Bank a Million Virginia Lottery

Bank a Million is the popular lottery from Virginia lottery offered to players to win up to $1 million and other great cash prizes in draws held every Wednesday and Saturday. This history of Virginia Lottery dates back to 1612 and for centuries the games were discontinued and again reborn in 1849 and again in latest lottery form in 1987. Therefore Virginia Lottery is very oldest in history.

Bank a Million is a draw lottery where there are 6 numbers which are picked plus a bonus ball which gives the players an extra chance to increase their prize level. When the bonus ball number appears in the first 6 numbers, it is considered a match and prizes can be increased. However, unlike in other lottery games, the number on the bonus ball does not determine who wins the top prize.

Like for example if you match 4 numbers, you get a $40 prize. When the bonus ball is drawn and you have it within your original 6 numbers, you match the 4 and the bonus ball. With this extra chance to match a number, your prize increases from $40 to $400. The most important thing to note is that your ticket has 6 numbers, but during the draw, 7 numbers are picked including the bonus ball hence giving you an extra chance to match a number.

How to Play Bank a Million

• You need to buy Bank a million lottery ticket to play this lotto game either online or from authorized retailer.
• Then on this playslip, you choose your own numbers depending on your preferences  from the pool of numbers ranging  from 1 to 40. If you do not wish to feel  picking the numbers manually then you can play Easy Pick where you allow the computer to randomly choose numbers for you based on its algorithm. While there is no guarantee that an Easy Pick will give you the winning numbers so is a manual pick.
• An alternative option when it comes to picking the number is to have a hybrid picking system where you choose some numbers and you allow the computer to fill the rest.
• Each ticket consists of 6 numbers and it costs $2.
• The drawings for Bank a Million are held each Wednesday and Saturday starting from 11 p.m.
• If you want to play the same numbers in more than one draw on the same ticket, Bank a Million allows you to do so. All you need is to buy a multi draw ticket which allows you to play anything up to 26 consecutive draws. However,  for every additional draw, the prize of the ticket increases beyond the usual $2.
• If you wish to buy the ticket and play for a future date all you need is to mark the playslip and inform the store clerk the specific draw you want to be entered in. If there are certain numbers you want repeated on more than one ticket, you can simply repeat your play and have the numbers printed on different tickets up to 20 times.

What you should know before you enter the draw of this lottery game

• As said above, draws for Bank a Million are held on Wednesdays and Saturdays at exactly 11p.m.
• The sale of tickets comes to a stop at 10.45 p.m. on the drawing nights hence you need to get your ticket early enough to avoid last minute rushes and disappointments.
• Bank a Million lottery tickets can only be cancelled by the retailer.
• Always use your playslip so as to verify the correctness of the numbers. When you are using optional plays such as multiple draws, future draws, and same ticket numbers, be careful to inform the clerk the options that you prefer.

Bank a Million Lottery Draw

The Lottery draws are held under rigid security procedures as well as in accordance to certain rules and standards. Two hours prior to a draw, three lottery officials report to the T.V. studio where the draw show is to be held and go over a checklist which includes a random selection of the ball sets as well as the draw machines to be used.

You can watch Bank a Million drawings LIVE on Wednesday and Saturday at 11:00 p.m. by clicking the red View Winning Numbers tab at the top of the page or by visiting on Facebook.com/valottery

Bank a Million Odds to Win

Here above in the picture you see the chart for all the eight ways to win a prize in Bank a Million.

You can control your wager and choose which top prize you want to win – $1,000,000; $500,000; or $250,000. You can choose to wager $2 on one set of numbers, $1 on two sets of numbers, or $.50 on four sets of numbers. Keep in mind, however, that no split bets are allowed. In other words, you can’t wager $1 on one set of numbers and then $.50 on two other sets of numbers. Each wager amount must total $2.

Then there is a draw of six balls 1 to 40. A seventh ball called the Bonus Ball will be drawn; you don’t select this ball on your playslip. The Bonus Ball offers you an additional chance to increase your prize.

After the drawing, check to see if the Bonus Ball number that we’ve drawn appears within the set of six numbers on your ticket. If it does, you’ve matched the Bonus Ball!

How to claim prizes in Bank a Million Lotto

The Virginia Lottery offers two convenient ways to claim your winnings : at customer service centers and prize zones. You can now choose a check or a Visa debit card for prizes from $10 to $5,000. Keep in mind the Visa debit cards cannot be reloaded with new funds

If your prize is $600 or less Virginia Lottery retailers may cash it. Keep in mind that many retailers don’t keep large amounts of cash available, for security reasons. Retailers can, however, pay you with a check or money order. If you prefer, you can take it to a Virginia Lottery customer service center, one of the prize zones or claim your prize through the mail. The lottery staff will issue you a check or a Visa debit card for your winnings. The only difference is that you’ll need to provide a valid government-issued photo ID and your social security number if the prize amount is greater than $100.

If you have won prize  more than $600 you can claim it at a Virginia Lottery customer service center or one of the prize zones. Again you need to bring a valid government-issued photo ID and your social security card or other proof of your social security number. Double check your photo ID and Social Security card to ensure your name is exactly the same on both documents as they need to match exactly to claim your winnings. When you get there, you’ll fill out a claim form or click here to get the form. If you have questions about what you need to claim, call 804-692-7000.

If you are not a U.S citizen but you reside in the U.S then just bring your green card (permanent resident card), a government-issued photo ID (a Visa will work) and an official document displaying your Social Security number.

You can also claim your prize through the mail. Sign your ticket and mail it to: Virginia Lottery Claims, P. O. Box 1254, Richmond, VA, 23218-1254. Be sure to complete the requested information on the back of the ticket so the Lottery knows where to send the check or Visa debit card. If the prize is more than $600, you’ll need to supply a copy of both your government-issued photo ID and your Social Security card. If the prize amount is $600 or less, just include your social security number. It’s a good idea to make copies of the front and back of the ticket, and use registered mail to make sure your ticket arrives safely.

Remember that drawing tickets expire 180 days after the drawing. Also lottery prizes are taxable. If you win more than $600 it will be reported to federal and state tax agencies. If you win more than $5,000, taxes will be withheld automatically. Currently, the Lottery is required to withhold 25% for federal taxes and 4% for state taxes. If you win a large prize, it’s a good idea to talk to a tax professional soon after your win to discuss how it will affect your tax situation.