LOTTO247

Lotto247: How To Withdraw Your Winnings?

Whether to cut losses or to secure your winnings, you will want to know everything about Lotto247’s withdrawal processes - hence, this article.

lotto247 withdraw

I will admit - there are different reasons that lead to a player wanting to withdraw funds.

Perhaps, you want to cut your losses. Respect.

Perhaps, you won a few prizes and want to play defense. Respect.

Perhaps, you won the jackpot, still ecstatic, but still in your wits and needs the step-by-step process on exactly how to withdraw your winnings.

Whatever your reasons may be, and I hope it's the 3rd on the list above, I took the liberty to put together everything you need to know about withdrawals - how to withdraw, different options and methods, wait time, minimum amount, and everything else that I think could help.

Withdrawal Method: How To Withdraw Money From Lotto247?

Requesting for a withdrawal is fairly easy.

1) Login to your account.

NOTE: To login, you’ll need to go to Lotto247.com, and enter your credentials - just like what you do with facebook.

Login

2) Click My Account > Withdrawal.

Withdrawal

3) Choose Your Prefered Withdrawal Method

Choose Your Prefered Withdrawal Method

4) Enter:

- How much are you withdrawing;
- Any required information with respect to the payout method chosen.

Enter

NOTE


Depending on the chosen payout method, you’ll need to follow the prompt, enter the required information, and click next until you reach the confirmation page.

Withdrawal Limits

Taxation

Are your winnings taxable? Depends.

It depends on the lottery and where it originates. Some countries tax lottery winnings, some don't. Local indian taxes don't apply.

Now, while I don't have a list of countries that would demand taxes out of your winnings, feel free to email info@lotto247.com about whether taxation applies to your winnings, or not.

Minimum Amount

Of course, sky's the limit as to how much you can win from Lotto247 and its lotteries. However, there's a limit as to the lowest possible win that you can request a withdrawal for - including that trigger when they call to congratulate you that you won.

LotteryCurrenciesMinimum WithdrawalsLotto247 Will Call If You Win
SuperEna Max£/$/€£10, €12 and US $15.£/$/€200 or more
Cash4Life€10.00€200 or more
Powerball£/$/€€10.00£/$/€200 or more
Mega Millions Max£/$/€£10, €12 and US $15.£/$/€200 or more
Powerball Plus£/$/€£10, €12 and US $15.£/$/€200 or more
SuperEna Lotto£/$/€£10, €12 and US $15.£/$/€200 or more
Mega Millions£/$/€£10, €12 and US $15.£/$/€200 or more
OZ Powerball£/$/€£10, €12 and US $15.£/$/€200 or more
France Loto£/$/€£10, €12 and US $15.£/$/€200 or more
EuroJackpot£/$/€£10, €12 and US $15.£/$/€200 or more
La Primitiva£/$/€£10, €12 and US $15.£/$/€200 or more
El Gordo£/$/€£10, €12 and US $15.£/$/€200 or more
Oz Lotto£/$/€£10, €12 and US $15.£/$/€200 or more
UK Lottery£/$/€£10, €12 and US $15.£/$/€200 or more
6aus49 Lotto£/$/€£10, €12 and US $15.£/$/€200 or more
Mega-Sena£/$/€£10, €12 and US $15.£/$/€200 or more
EuroMillions£/$/€£10, €12 and US $15.£/$/€200 or more

Wait Time

Even if Lotto247 has 500,000 customers they deal with, your winnings are guaranteed - no matter how big or small. In fact, in Lotto247's first 5 years, they've awarded over USD 3 Million. Your winnings are guaranteed. There's no doubt about that.

There is, however, a time factor on when you'll receive it when you request a withdrawal depending on the amount of withdrawal, you will need to wait for at least 2 weeks; and, for large withdrawals, give them 4 weeks to complete the process.

Withdrawal Options: Lump-sum Payout Option Vs Annuity Pay-out Option

Let’s imagine - you won the jackpot. You won big. What now?

Depending on the lottery you won the jackpot on, you are likely to have at least one option for a payout - the lump-sum payout where you get the whole jackpot amount in one big bang!

However, some lotteries do offer the annuity pay-out option. Which begs the question - what on earth is an annuity pay-out option?

There are 3 items that will help me illustrate the annuity pay-out option:

  1. You’ll receive a percentage of your winnings upfront.
  2. You’ll receive yearly payments in a predetermined number of years.
  3. The yearly payment increments by 4% each year which makes your final payout the biggest you’ll receive.

    For a complete list of lotteries and their withdrawal options please see below.

    Lotteries’s Withdrawal Options

    LotteryPayout Options
    SuperEna MaxLump-sum Payout or Annuity Payout
    Cash4LifeAnnuity Payout for Jackpot and 2nd Prize; the rest, lump-sum payout.
    PowerballLump-sum Payout or Annuity Payout
    Mega Millions MaxLump-sum Payout or Annuity Payout
    Powerball PlusLump-sum Payout or Annuity Payout
    SuperEna LottoLump-sum Payout, by default; Annuity Payout is still possible under exceptional circumstances.
    Mega MillionsLump-sum Payout or Annuity Payout
    OZ PowerballLump-sum Payout, by default; Annuity Payout is still possible under exceptional circumstances.
    France LotoLump-sum Payout, by default; Annuity Payout is still possible under exceptional circumstances.
    EuroJackpotLump-sum Payout, by default; Annuity Payout is still possible under exceptional circumstances.
    La PrimitivaLump-sum Payout, by default; Annuity Payout is still possible under exceptional circumstances.
    El GordoLump-sum Payout, by default; Annuity Payout is still possible under exceptional circumstances.
    Oz LottoLump-sum Payout, by default; Annuity Payout is still possible under exceptional circumstances.
    UK LotteryLump-sum Payout, by default; Annuity Payout is still possible under exceptional circumstances.
    6aus49 LottoLump-sum Payout, by default; Annuity Payout is still possible under exceptional circumstances.
    Mega-SenaLump-sum Payout, by default; Annuity Payout is still possible under exceptional circumstances.
    EuroMillionsLump-sum Payout, by default; Annuity Payout is still possible under exceptional circumstances.

    Conclusion

    There are a few things I want someone who read this article to get from reading this article:

    1. Depending on the amount that you’re requesting to withdraw, you’ll have to be patient as it may take at least 2 weeks to complete the request.
    2. Some lotteries have an annuity payout option, and some have it triggered on special circumstances by which Lotto247 reserves the right to decide on.
    3. Majority of the lotteries in Lotto247 have a minimum withdrawal amount set at £10, €12, or US $15.
    4. Taxes applied on your winnings depend on where the lottery originated.

    Whether you’re doing this to protect your funds from losses, which happens to the best of us; or, you won big time and now you’re taking home the bacon; I’d say you are a winner either way.

    Congratulations! I hope you win more!

    -LOTTO247

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