South Korea is found on the Korean peninsula on the southern half and it is an eastern Asian nation. This nation is known for green and hilly country side spread with cherry trees, the coastal fishing villages, subtropical islands, the old Buddhist temples made centuries ago and the high technology cities like Seoul its capital.
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(South Korea) The economy of this country is the fourth largest in Asia and the in the world it is the 11th largest. It has a mixed system of economy in which, the family-owned conglomerates called Chaebols dominates it. This country is famous for its remarkable rise to a developed country in just a generation because it was known to be one of the poorest countries in the world. Due to fast development, this country will remain one of the fastest developed countries in the world. With this, many of its inhabitants enjoys this development by carrying out some out some extra activities such as gambling with the most common and well-known lotto 6/45 betting system.
In South Korea, lottery has a very long and colorful background. A widely played lotto in the country is lotto 6/45 which is one of the newest lottery games. This lottery has become a favorite to most South Koreans since it was founded in 2002 and has offered many wonderful jackpots (world class).
Brief Overview of Lotto Korea
This is a standard six number game that started in 2002 and it features an additional free ball. One of this games peculiarities is the fact that the tickets cost less than 1 dollar when purchased locally and this has increased the popularity of this game over the past years.
The only day in the week that the draws take place is on Saturday and at 8:40pm. SBS is a local private channel which shows the draws live each week. The game has created over 4,789 jackpot winners since 2002 and over 1.066 million prize winners overall since the day of its creation.
How to Play South Korea Lotto 6/45
There is nothing complicated about this lotto game. You have to choose 6 numbers from a group of 1-45 and have to purchase at least one ticket for a shot at winning the jackpot. If all your numbers match the numbers drawn, you obtain the top prize.
If no one wins the jackpot it will roll over. For this reason South Korea’s Lotto 6/45 has offered many large jackpots. The game also had overall good odds and sometimes more than one player will win the jackpot. When there are many winners, the amount will be divided to all the persons who have won. In South Korea you must be at least 18 years of age in order to play this game.
Odds and Prizes
The winning odds of the jackpot are 1 in 8,145,060. In 2003, there was a big jackpot won and it is the biggest in the history of the game. After a set of rollovers, approximately 70 million US dollars was reached. This lucky draw had 13 winners of the top prize and each of the winners ended up with approximately 5.4 million US dollars.
So many criticisms were made about lotto 6/45 after the massive jackpot came into existence. Some of these criticisms were the huge prize had led to “lotto fever”, bringing a lot of individuals to spend a lot of money on tickets.
The price of a ticket was approximately 2 dollars at the time. This price was brought down due to social pressure and this also led to the reduction of the massive jackpots.
Also in 2003, an single ticket holder won a prize worth 40 million US dollars which was a great achievement at the time. The winner also happened to be a soldier and quit his job immediately.
Lottery winners are protected by strict rules kept in place by South Korean law. Press conferences and other media events built around winners are restricted as to maintain winner privacy. In addition to the jackpot, there are 4 additional prize tiers to lotto 6/45.
People can win as much as 47,000 US dollars in the smaller prize divisions. There are two much smaller prizes apart from the main prizes. 50,000 South Korean won (43.75 US dollars) is won by players matching four numbers out of the six and players matching 3 numbers out of 6 get a 5,000 South Korean won prize (4.37 US dollars).
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What Winners Should Know
By viewing the live draw on TV or visiting the South Korea Lotto 6/45 official website, you can confirm the winning numbers and determine if you are a winner or not. If you are a winner, you need to prevent others from cashing out your prize by signing on the back of your ticket.
Smaller prizes can be cashed out at any Nonghyup Bank location throughout South Korea. All prizes are given in the form of cash lump sum. While playing this game, you should know that taxes apply in South Korea on the lottery prizes.
There are up to 22 percent taxes applied to a sum of 50 million won and 33 percent applied to any prize that exceeds this amount.
Is South Korea Lotto 6/45 a scam?
This game can be played legitimately by anybody over the age of 18 in South Korea and has an existence of about 15 years and is %100 safe to play. This lottery is an official game in South Korea. You do not have to worry about anything if you want to try out this game because it is controlled by a national legislative framework.
Online Lottery in Korea
Although many South Koreans are glad enough with their own local lottery games, many of them prefer to play American, Spanish, European and Australian lotteries such as the Powerball, Mega Millions, Euromillions, Oz Lotto and Loteria de Navidad as these lotto games have bigger jackpots. Here on Lottosend online lottery players from Korea can safely ans securely purchase tickets through the Lottosend website.
Every week many South Koreans choose to play lotto online and have the chance to have a grab at the bigger and more exciting lottery jackpots such as the upcoming $193,000,000 US Powerball jackpot draw that is happening right now in a few hours!
We wish the best of luck to South Korean lottery players and hope that you win the jackpot today!