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| Odds of Winning the Set For Life Lottery |
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The first ever Set For Life draw
took place on Monday 19th March 2019. The draw is at 8pm every Monday and
Thursday.
How to Play
You have to pick five main numbers from
1 to 47, and one number called the ‘Life Ball’ number from 1 to 10.
Each line played costs £1.50.
How much is paid out
This
will vary from week to week as it depends on how many people have winning
combinations. Camelot have designed Set For Life to payout about 54% of the
ticket sales in prizes which is in line with most lotteries.
Does the
Jackpot rollover
In fixed prize lotteries the jackpot does not rollover
and that is the case here, the Set For Life jackpot will not
rollover.
Are Set For Life prizes tax free
If you are a UK tax
payer then under the current tax rules all the prizes are tax free. If you win
the Set For Life top prize you have to complete an Annuity Application and if
you are not resident in the United Kingdom or the Isle of Man you will not be
entitled to a policy. Camelot’s decision will be final in any case where
residency is an issue.
What happens if the Set For Life jackpot
winner dies
If a winner dies once the annuity policy paying out the
monthly payments has started, the winner’s estate will receive a lump sum
payment equal to the cost of the policy paid by Camelot. In most cases this
will be more than the total amount of monthly payouts that the winner would
have received.
Here are the odds of winning the Set For Life prizes and
their expected payouts: |
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Main
Numbers |
Life
Ball |
Odds |
Prize |
| 5 |
1 |
1 in 15,339,391 |
£10,000 every month for 30
years |
| 5 |
0 |
1 in 1,533,940 |
£10,000 every month for 1
year |
| 4 |
1 |
1 in 73,046 |
£250 |
| 4 |
0 |
1 in 7,305 |
£50 |
| 3 |
1 |
1 in 1,783 |
£30 |
| 3 |
0 |
1 in 179 |
£20 |
| 2 |
1 |
1 in 135 |
£10 |
| 2 |
0 |
1 in 14 |
£5 |
| Any Prize |
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1 in 13.4 |
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Set For Life Lottery Prize
capping
Prize capping takes place when popular number combinations come
up and the result there are more Set For Life prize winners than Camelot are
prepared to pay out.
Set For Life Match 5 + Life Ball (the top Prize)
Prize Capping
The amount of money available to pay winning Set For Life
Entries in the Match 5 + Life Ball Prize category is limited to £16
million. In the event that £16 million is not enough to pay all winners
of the Set For Life top prize then £16 million will be divided between
all winners. Winners will get the option of taking a one-off lump sum cash
payment or request an annuity using the Capped Prize Amount .
Set For
Life Match 5 Prize Capping
The amount of money available to pay winning Set
For Life Entries in the Match 5 prize category is limited to £2 million.
In the event that £2 million is not enough to pay all winners of the Set
For Life second prize then £2 million will be divided between all
winners. Each winning Set For Life Entry in the Match 5 Prize category will
receive the Second Prize capped amount in equal monthly payments over a period
of one year. |
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