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Eurojackpot! Hungarian wins €22.5 Million, the Largest Lottery Win in his Country’s History

Last week, a Hungarian lotto player won 22,569,528 euros (6,989,782,821 forint) in the Eurojackpot lottery, making him the winner of the largest jackpot in Hungarian history.

Hungarian taxes—15% of winnings—are collected by the Hungarian company that will transfer the money to the winner, Szerencsejáték Zrt. Even after taxes, however, the winner will still be left with over 19 million euro (5,941,315,398 forint) in his bank account; or rather, in his bank accounts, as the Hungarian National Deposit Insurance Fund (OBA) guarantees all accounts up to the value of roughly 97,000 euro (30 million forint), meaning the winner will likely have to open multiple bank accounts for his colossal winnings.

By way of comparison, Eurojackpot winners pay no taxes on their winnings in Slovakia, Sweden, Norway, Lithuania, Latvia, Iceland, Germany, Finland, Estonia, Denmark, or the Czech Republic. On the other hand, winners in the Netherlands lose 29% of their winnings to taxes.

Eurojackpot began in March 2012, and is currently playable in 16 countries throughout the EU. The first drawing in Hungary took place in October of 2014.

The odds of winning the grand prize of Eurojackpot are roughly 1 in 95 million.

The largest Eurojackpot ever paid out was 90 million euro, to a lotto player in the Czech Republic in 2015. The winner picked up his or her winnings three weeks after the numbers were drawn, and chose to remain anonymous.

Via origo.hu, hirado.hu, and lotto-news.de

Image via lotterytalk.com