EuroMillions Taxes vs Other Lotteries
EuroMillions offers some of the largest jackpots in the world, and the fact that prizes are not taxed in six of the nine countries makes it stand out even more in comparison with some of the other big lotteries.
American games such as Powerball and Mega Millions, for example, have tax obligations at both a state and federal level, so although these games regularly offer the biggest jackpots out of any lottery in the world, the payouts can end up significantly lower than the pre-draw estimate.
New Yorkers suffer heavier taxes than anyone else in the U.S. In August 2018, one player from the state won a Powerball jackpot advertised at $245.6 million, but they ended up walking away with a significantly lower sum. They opted to take a cash lump sum of $147 million, which worked out as a final payout of $99.4 million – around 40% of the advertised jackpot – after taxes had been deducted.
In EuroMillions, you will be given the specified amount with no deductions if you play in a country which does not tax winnings, such as the UK. The UK player who anonymously claimed £121 million in April 2018, for example, received a much larger payout than the $245 million Powerball winner, even though at first glance it would seem they had not won as much.