After World War II came to an end, things began to settle down. The same applied to the lottery in Hungary and it began to operate once again. While there were some cool lottery games offered in Hungary, things didn’t really become interesting and appealing enough until 1957. This is when lottery took a major step forward in the country with the introduction of the OtosLotto. It is one of the oldest lotteries not just in Hungary, but also in Europe. It is undeniably a very cool game and can give people the opportunity to play for massive jackpots, which has added to its demand.
Therefore, it is not surprising to know that the lottery has succeeded in persisting for nearly 60 years. Also recognized by the name of ‘Lotto 5’ because of the way it is played, OtosLotto hasn’t changed a lot over the years. There was one major modification that was made to the lottery and this was done back in 1993. In fact, the popularity of the lottery was boosted even more after this change because it increased the size of the prizes available. Furthermore, it also provided lottery players a greater number of ways to win a prize thereby enabling it to gain more fans from all over the world.
However, those who have just come to know about the OtosLotto often wonder if it is a scam or authentic because the jackpots may come off as too good to be true. A national entity known by the name of Szerencsejáték operates the OtosLotto and it came into existence in 1991. This organization is responsible for some of the most popular lotteries in the country including OtosLotto, GolToto, Toto, EuroJackpot and HatosLotto.
As far as the OtosLotto is concerned, it follows a defined set of rules, which makes it incredibly easy to understand even for novices who are not familiar with the lottery. To start with, people have to choose five numbers between the range of 1 and 90. While this might be considered a big number range, the big prizes make up for them. All five numbers have to be matched in order to take home the jackpot. In 1993, the feature of the Joker was introduced in the OtosLotto, which means that people have a chance to win additional prizes as well. A joker number has to be chosen between the range of 0 and 9.
The draw for the Joker is conducted right after the main draw of the OtosLotto and winning tickets are the ones that are able to match 2, 3, 4, 5 or all six of the numbers drawn. There is a minimum guaranteed jackpot in the OtosLotto, which is around 60,000,000 HUF and when converted to USD, this amounts to $220,000. The prizes of the lower tiers are just as lucrative due to which this game is quite popular. The price of an OtosLotto ticket is approximately 225 HUF and you have to pay an additional HUF 200 to participate in the Joker draw. If you convert these costs into USD, you will know exactly how low priced the tickets are.
OtosLotto Ticket Price and Prizes
The price of the main draw is $0.8 whereas the Joker costs you $0.72. This makes the tickets really affordable and gives everyone the opportunity to participate in the OtosLotto. If players decide to buy their tickets to the game five weeks in advance, it will not cost them more than $10. Like many other lottery games, if the jackpot of the OtosLotto is unclaimed, it is rolled over to the next draw. However, there is one thing unique about this particular lottery game; it is not just the jackpots that’s rolled over but prizes from other tiers are also given the same treatment, which includes tier 2, 3 and 4.
The rollover of secondary prizes is not a feature that you will find in many other lottery games and this adds another element of appeal to OtosLotto. There is no jackpot cap and the prize can continue to rollover and accumulate for a period of one year. If it still remains unclaimed during this time, then the jackpot is rolled down and it increases the secondary prizes available. The draw for the OtosLotto is conducted every Saturday between 6:30 PM and 7:30 PM and it is recommended that tickets should be bought a few hours before the draw to ensure they are processed and deemed valid. If you get late, the ticket becomes eligible for next week’s draw.
But, what are the chances of winning a prize in the OtosLotto? Let’s take a look at the odds of winning any prize:
- The odds of matching all five of the main numbers drawn and taking home the jackpot are a bit on the competitive side as they are 1 in 43,949,268.
- The second prize can be won by matching four main numbers in the draw and the odds of this happening are 1 in 103,410.
- You have to match three numbers for winning the third tier prize as well and the odds of doing so are 1 in 1,231.
- The fourth tier prize requires players to match two numbers in the main draw and the chances of any player accomplishing this are 1 in 44.
Apart from these, these overall odds of winning any prize in the OtosLotto are 1 in 43. Yes, for some categories, the odds may seem difficult, but the prizes are considerable and the cost of the ticket is also low, which makes it a worthwhile decision. The total prize fund is divided into four prize divisions and this is how the divisions are made:
- As mentioned above, five numbers have to be matched for the first prize and it is 30% of the prize fund. This is the biggest amount you can win in the OtosLotto.
- Four numbers have to be matched for the second prize and the prize given out is 17% of the remaining prize fund, which is still hefty.
- The third prize is won by matching three numbers and its prize is 18% of the remaining prize fund.
- The last prize is 35% of the remaining money and can be taken home by matching just two numbers.
Playing OtosLotto Online
Before the existence of the internet, it was only possible for the residents of Hungary to participate in the OtosLotto because the tickets could only be purchased at retail outlets. However, since the advent of the internet and the concept of online lotteries, it has now become possible for tickets to be bought online and the results can also be checked in the same way. Therefore, this means that geographical restrictions can now be eliminated and foreign lottery players can also participate in the OtosLotto.
These players are treated in the same way as that of residents of Hungary or of other European Union countries. Prizes for the OtosLotto have to be claimed within 90 days of the date of the draw, for both local and foreign players. This is a standard practice implemented by most European lotteries. If the prize is not claimed within this time, it will be used for improving the social welfare or can also be donated to a number of other funds that will benefit the people of the country.
All the prizes of the OtosLotto jackpot are paid out by Szerencsejáték, including the jackpot, and they are given out in the form of lump sum. An annuity option is not available to the players. Local players have the option of visiting any retail outlet that sells OtosLotto tickets for claiming smaller prizes, which are approximately 200,000 HUF i.e. $720. Specialized procedures have been established in the case of larger prizes. Typically, winners will be required to place a call to Szerencsejáték and then make appropriate arrangements for collecting the large sum.
Moving onto taxes, the good news is that lottery winnings from OtosLotto or other lotteries are not subjected to any tax in Hungary. Nevertheless, international players should check the laws in their own country as they may have to pay taxes there. In addition, they should also be aware of the commission or fee charged by the online lottery service they use for participating in the OtosLotto so they don’t have to deal with any surprises later on.
Playing the OtosLotto online is not only great for international players, but can also offer advantages to local players as well. First and foremost, it saves them from the hassle of having to find an authorized retailer who sells OtosLotto tickets. They can simply use the services of online lottery agents to buy the tickets for them. Just like they don’t have to buy tickets, they don’t need to watch the actual draw either. In case they don’t find the time or forget to watch it, OtosLotto draw results can be checked online with ease.
Plus, lottery services will usually notify players before the draw and will also inform them if they have won anything after the draw. That’s not all; collecting winnings is also easier than ever if you play OtosLotto online. Prizes are automatically transferred into your account and there is no need to make any arrangements or visit a store for collecting your winnings. The most important benefit is the convenience and security that players can enjoy. You don’t have to worry about losing your OtosLotto tickets or having them stolen because you have an e-copy as proof of your purchase.
The same cannot be said if you are buying tickets from the store, which can easily be misplaced. In the situation where you do end up winning the OtosLotto jackpot, it is recommended that you don’t claim your prize immediately. As you have 90 days available for claiming your winnings, this time should be used in the best possible way. There are steps that should be taken in order to ensure you have a plan to deal with your winnings and now blow them away immediately. There are lots of winners out there who don’t take these steps and lose their winnings within a few years.
What To Do If You Win The OtosLotto Jackpot
The key is to hire experts who can assist them in managing their money in the best possible way.
OtosLotto has massive prizes and the expertise of lawyers, accountants and financial advisors can aid winners in managing their winnings. Therefore, you need to hire a complete team to aid you in making decisions in order to make the money last for as long as possible. It is also not a good idea to quit your job immediately, especially if you don’t want other people knowing that you won the OtosLotto jackpot or other prize.
A normal routine should be followed as much as possible. Winners should also think about using their winnings to pay off their debt and invest whatever they can in feasible instruments in order to increase their wealth. If you do want to spend, instead of buying assets such as cars that depreciate, it is better to buy items like jewelry or art that will increase in value with time and offer better returns. You also need to learn to say no to friends, family and relatives who will start coming to you for handouts. It is difficult, but should be done in order to avoid problems in the future.
In a nutshell, OtosLotto provides you with an exciting and fun opportunity to participate in the lottery and you can potentially win a great jackpot if you play the game right. It is one of the oldest lotteries in Hungary and Europe as well and equally popular. The proceeds from the tickets, after deduction of the prize fund, are used for various causes and charities that help the citizens of the country. With no taxation and rollover limit, the prizes players can take home from the OtosLotto are spectacular. Also, the addition of the joker can help people in winning bigger and better prizes and enjoy them in the form of lump sums, as per the rules of OtosLotto.