Monday, April 30, 2012

Is is Time for a Euro Millions Super Draw?

Expect to see a Euro Millions Super Draw during May 2012

One of the special features of the Euro Millions lottery is the Super Draw. These are named "Super" because the minimum jackpot prize is typically set at €100 million, regardless the level of the previous jackpot.

In these drawings, only the Jackpot prize amount is increased.

What if there is no winner?
What happens to the Super Draw Jackpot prize it there is no jackpot winner depends on the Super Draw designation:
  • Super Draw One means that the jackpot will roll forward to the following drawing; and
  • Super Draw Two means the jackpot prize will be allocated to the winners of the next lowest tier in which there is a winner.
How are these funded?
After every Euro Millions drawing, 50% of the gross ticket revenue is allocated to the Common Prize Fund. Of this, 8.6% is placed in the EuroMillions Reserve Fund (also called the Booster Fund).

When the amount of money in the booster fund is sufficient, it is withdrawn and used for a Super Draw.

On the average, approximately €1million are added to the booster fund after each drawing. This means, it will take about a year for €100 million to accumulate.

To make Super Draws more frequent, the Super Draws are typically designated after the anticipated jackpot reaches €40M to €50M and the booster fund contains the remainder.

Why now?
The last Super Draw was held on October 4, 2011, approximately 6 months ago.

At present, we have calculate the value of the Reserve Fund to be around €57 million, which means that we would expect to see a new Euro Millions Super Draw sometime soon in the month of May 2012 (or whenever the jackpot nears €50 million).

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