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Should You Buy Lottery Tickets Online?

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While the lottery may offer a chance to become rich, winning a ticket represents a net cost of more than the expected gain. Accordingly, lottery purchases are not rational for people who would maximize their utility. Although lottery winnings are highly unlikely to lead to wealth, they provide a thrill and the fantasy of becoming wealthy. There are various ways to determine whether lottery winnings are a wise investment, but if you want to win big, you should not buy lottery tickets.

Most online lottery sites offer their players easy access to their lottery games, including the ability to use credit cards. If you win a prize over $650, the online lottery website will send you a W2-G form. Once you hit the jackpot, the lottery site will automatically withhold 24% federal and state tax from the winner’s prize. Ultimately, online lottery play is the safest way to enjoy the lottery, and you can do it from anywhere at any time.

Online lottery play is legal in the majority of states. Only five states have no lottery. Most states that have legalized online lottery play did so through a legislative process. Most states have added language similar to “including sales over the Internet,” but this avoids the possibility that a future administration will challenge the legality of the online games. However, Washington D.C. and Rhode Island have chosen not to go through this process, citing that existing laws already provided sufficient leeway.