Lottery Singapore is the only legal lottery in Singapore and operated by Singapore Pools. It offers a range of different lottery games, including Big Sweep, 4D and Toto.
Winnings in the lottery are a windfall and not an income, meaning you do not need to declare them in your Income Tax Return. In addition, the winnings are also tax-exempt.
A winning lottery ticket could help you get a new car, home or even a new job! But there are also some things to keep in mind before grabbing that lottery ticket.
Sudden wealth is a dangerous thing to be in, especially for those with poor financial literacy or who are not able to handle their money well. In fact, a study found that sudden wealth can make people lose up to 70% of their fortune.
In order to avoid the dangers of sudden wealth, you should seek guidance from a professional or a financial education agency before investing your lottery winnings in anything. You could also look into financial planning services in Singapore to guide you on how to manage your finances better.
The Math Behind Toto and 4D in Singapore
Toto is a popular game in Singapore, with the prize pool being set at 54% of sales for each draw. The game involves buying a set of six numbers chosen from 1 to 49 and matching all of them in a random drawing.