No Tax for G.O.B. Million Dollar Lottery Winners
On Saturday, thousands of Belizeans held their breath as the winners of the Government’s ‘One and a Million Anniversary Jackpot’ were announced. Fourteen lucky people had the winning numbers, 3-4-4-6, and each walked away with seventy-one thousand, four hundred and twenty-eight dollars after splitting the prize. The lottery sold one hundred and eighty-four thousand, eight hundred and twenty tickets, just shy of the two hundred-thousand-dollar mark, resulting in a loss of about seventy-six thousand dollars for the Belize Government Lotteries Limited. Despite this, managing director Janel Espat called the event a success. In an interview with News Five, she mentioned that the winners, who came from all over the country, varied in age and gender. Here’s more on that.
On the Phone: Janel Espat
On the Phone: Janel Espat, Managing Director, Belize Government Lotteries Ltd.
“It was very successful for the intention that it was done for. We were raffling a million dollars. Our sales amounted to nine hundred and twenty-four thousand, one hundred and forty dollars, so we were just about seventy-six thousand short of breaking even. However, in the larger scope of looking at it our. Payout is usually somewhere around the average of seventy percent. So this is about an eight percent payout for us. It’s significantly low. It is unfortunate that we were not able to make profit from the raffle because we intended to contribute any profits from the game to a charitable organization. So, unfortunately, we’ll be unable to do that. However, the intention was also to give back to Our supporters to the people of Belize and we are very happy with the results. We’re grateful that we have been able to do that. In all there were fourteen winners. So each person will be receiving a total of seventy-one thousand, four hundred and twenty-eight dollars and fifty-seven cents.”
Britney Gordon
“How much can we expect them to take home after tax?”
On the Phone: Janel Espat
“No, it’s actually tax-free. All winnings from the government lottery games are tax free, so no taxes will be deducted.”
Britney Gordon
“All right. And I know today was a very busy day, you said because the winners are coming in. How has that been? What’s the reception like from those people?”
On the Phone: Janel Espat
“It has been exciting. It has been heartwarming. We’ve already paid out to ten of the fourteen winners. Everyone is so excited and happy to be collecting these winnings and it makes us feel So happy to be able to do this for the people of Belize and it comes at the perfect time right for the Christmas holidays.”
For more information:
Poll Shows Majority of Belizeans Skip One & a Million Jackpot Ticket
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