SuperLotto Plus is a lotto game played in the style of Mega Millions. The game began in 1986 as California Super Lotto. In 2000, the name was changed to SuperLotto Plus. Its starting jackpot is $7 million (annuitized); a cash option is available for jackpot winners.
SuperLotto Plus is drawn every Wednesday and Saturday.
While the cash option usually is chosen, the SuperLotto Plus annuity is graduated. As of the May 11, 2013 drawing, the advertised annuity jackpot represents a 30-payment graduated annuity stream, similar to that of Mega Millions, partly in response to low long-term interest rates. The cash value is now guaranteed. The graduated payments begin at 1.81% of the jackpot amount and rise exponentially such that the final payout is 5.56% (more than triple that of the first payment) of the advertised jackpot amount. Previously, the first payment was 2.5% of the annuity value (or share) of the jackpot, with the second installment 2.7%. The remaining 24 payments increased by 0.1 percentage point yearly, so that the final (26th) installment represented 5.1% of the annuity.
Five numbers are selected from a set of 47 balls, while a Mega Number is chosen from a second set, of 27 balls. (This Mega Number is not to be confused with the gold-colored ball in Mega Millions, which also is known as the Mega Number.)
The California Lottery has offered a number of jackpot games, beginning with its "6-49" game in 1986, which became a 53-number game (drawing a seventh, "bonus" ball) in 1990, then changed again, to a 51-number game. The current variant, 5/47 + 1/27, began in 2000.
On February 16, 2002, the California Lottery's then-highest payout of $193 million was split by three tickets. Other big jackpots include $72 million in 2007 and $56 million in 1995.
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