The online lottery market is expected to grow at a CAGR of 8% during the forecast period. The market is driven by rising digitization, technological advances and increasing internet accessibility.
Buying Lottery Tickets Online
The main advantage of playing online is that it allows players to play popular lotteries around the world from the comfort of their own homes. You can play all your favorite games, check your winning numbers and see past results at the click of a button.
Online Pools and Subscription Services
A lot of lottery sites offer subscription services that allow you to buy your tickets for a number of drawings at once. This saves you the hassle of going out to your local store every time you want to play and gives you the opportunity to increase your odds of winning by allowing you to play more tickets than you would on your own.
Many online lottery sites offer lottery syndicates, which are groups of players who buy tickets together to maximize their chances of winning. This can be a great way to extend your lottery bankroll and improve your chances of winning, especially in jackpot-rich states like New Hampshire.
Tax Payments on Prizes of $600 or Less
The good news is that state-operated online lotteries will handle your tax payments on prizes of $600 or less. They will send you a W2-G form to fill out and submit, and they’ll automatically withhold 24% federal tax.