If you WIN BIG on this lottery, it is advised you get proper financial advice to decide on the$1,000 a day option or the $7 Million* lump-sum payout.
The Canada-Wide Daily Grand Lottery at a glance:
- Game launches on October 18, 2016 with the first draw on October 20, 2016
- Cost: $3 per selection
- The prize payouts are fixed amounts and the top 2 prizes are shared by the winning tickets
If 2 tickets match all numbers, then each is worth $3.5 Million - Daily Grand will be drawn every Monday and Thursday and players can buy tickets up until 7:30 PT / 10:30 ET on draw day at a lottery retailer
The grand prize for the game is $1,000 a day for the life of the winner - Winners entitled to claim an annuity prize have the option to choose the annuity or a single lump-sum cash payment:
• Top prize: $1,000 a DAY for LIFE or lump sum cash payment of $7,000,000*.
• Secondary prize: $25,000 a YEAR for LIFE or lump sum cash payment of $500,000. - Six numbers are drawn – five main numbers from 1-49 and one Grand number from 1-7
- To win the top prize, a player must match all five main numbers and the Grand number
- Odds of winning the top prize are 1 in 13,348,188 per $3 play
- Odds of winning the second prize are 1 in 2,224,698 per $3 play
- Odds of winning any prize are 1 in 6.8 per $3 play
The $1,000 a day prize is designed to help you dream and get you to buy a $3 ticket, but comes with tax complications as annuities are taxable. A $1,000 a day payout is $365,000 paid out in a year’s time. The $7 Million (shared by winning tickets) lump-sum payout is all TAX FREE. Put it in the bank; you have to pay tax on the interest made on the $7 Million.
| Match | Prize Amount | Odds* / $3 Selection |
|---|---|---|
| 5/5 + 1/1 | $1,000 a DAY for LIFE or single lump-sum cash payment of $7,000,000 |
1 in 13,348,188 |
| 5/5 + 0/1 | $25,000 a YEAR for LIFE or single lump-sum cash payment of $500,000 |
1 in 2,224,698 |
| 4/5 + 1/1 | $1,000 | 1 in 60,674 |
| 4/5 + 0/1 | $500 | 1 in 10,112 |
| 3/5 + 1/1 | $100 | 1 in 1,411 |
| 3/5 + 0/1 | $20 | 1 in 235.2 |
| 2/5 + 1/1 | $10 | 1 in 100.8 |
| 1/5 + 1/1 | $4 | 1 in 19.7 |
| 0/5 + 1/1 | $3 Free Play | 1 in 12.3 |
[FREE-catalogue]
With the odds and possible combinations of Daily Grand Lottery (1 in 13,348,188 per $3 play) compared to Lotto 649 (1 in 1 in 13,983,816 per $3 play), with very similar odds and tickets both costing $3, we feel Lotto 649 is a better choice as there is no cap on the prize amounts to be won. If this lottery was to cost $1 or $2 it in my mind would have a greater success. Only time will tell if CANADA plays this lottery. The first winner of this new lottery will be over publicized to get people to buy tickets. Canada needs a country-wide Lotto – with tickets costing $1 with no cap on the jackpot drawn once a week – like the good old days of lotteries in Canada.
It could even be called WIN BIG for a BUCK – and the domain WinBIG.ca is for sale for $100,000 USD plus GST/ HST. WINK WINK NUDGE NUDGE – OLG.
[winbig-460-02]
Personal tax ESTIMATOR on $365,000 ($1,000 a day) with an AFTER TAX value and DAILY amount after tax calculation based on June 2015 rates. Please consult with Revenue Canada or a TAX Adviser for current rates. These values are meant for provincial comparisons and may not be valid in the future. |
||||
| Province | Tax Payable | After-Tax | Tax Rate | DAILY |
| Alberta | $130,279 | $234,721 | 35.69% | $643.07 |
| British Columbia | $143,711 | $221,289 | 39.37% | $606.27 |
| Manitoba | $152,092 | $212,908 | 41.67% | $583.31 |
| New Brunswick | $164,598 | $200,402 | 45.10% | $549.05 |
| Newfoundland & Lab. | $141,068 | $223,932 | 38.65% | $613.51 |
| Northwest Territories | $137,307 | $227,693 | 37.62% | $623.82 |
| Nova Scotia | $160,329 | $204,671 | 43.93% | $560.74 |
| Nunavut | $128,303 | $236,697 | 35.15% | $648.48 |
| Ontario | $153,569 | $211,431 | 42.07% | $579.26 |
| Prince Edward Island | $154,810 | $210,190 | 42.41% | $575.86 |
| Quebec | $162,793 | $202,207 | 44.60% | $553.99 |
| Saskatchewan | $142,921 | $222,079 | 39.16% | $608.44 |
| Yukon | $133,789 | $231,211 | 36.65% | $633.45 |
A Lucky Black Squirrel (Lottery Charm®) pin was used to hold the winning grand prize ticket for the lottery (previously known as Dream Of A Lifetime Lottery) on a corkboard in the office of LotteryCharms.com® creator Ric Wallace.
* * * SHOP ONLINE * * *
LUCKY PINS | LUCKY COINS | LOTTO BOOKS | MAGNETS
If you were to win The Canadian Daily Grand Lottery and live in New Brunswick you could save $34,319 in TAXES a year going to Revenue Canada by moving to Alberta. You could save more if you moved to Nunavut (not much there). If you are the top prize winner and do not want to move to ALBERTA, take the $7 Million cash option, and stay close to family, friends and PARTY with the $7 Million if there are no other shared winning tickets.
| Where to live and pay the least amount of TAX on a $1,000 a day annuity. | ||||
| Province | Tax Payable | After-Tax | Tax Rate | DAILY |
| Nunavut | $128,303 | $236,697 | 35.15% | $648.48 |
| Alberta | $130,279 | $234,721 | 35.69% | $643.07 |
| Yukon | $133,789 | $231,211 | 36.65% | $633.45 |
| Northwest Territories | $137,307 | $227,693 | 37.62% | $623.82 |
| Newfoundland & Labrador | $141,068 | $223,932 | 38.65% | $613.51 |
| Saskatchewan | $142,921 | $222,079 | 39.16% | $608.44 |
| British Columbia | $143,711 | $221,289 | 39.37% | $606.27 |
| Manitoba | $152,092 | $212,908 | 41.67% | $583.31 |
| Ontario | $153,569 | $211,431 | 42.07% | $579.26 |
| Prince Edward Island | $154,810 | $210,190 | 42.41% | $575.86 |
| Nova Scotia | $160,329 | $204,671 | 43.93% | $560.74 |
| Quebec | $162,793 | $202,207 | 44.60% | $553.99 |
| New Brunswick | $164,598 | $200,402 | 45.10% | $549.05 |
