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Every 1st and 16th of the month, all Thais are looking forward to becoming millionaires because it is the day everyone calls “The Lottery Drawing Day” or “Government Lottery Drawing Day”. Do you know how many chances you have to win a prize? If you’re curious, ACU PAY will reveal this secret to you.
For the publication of the government lottery, the Lottery Office has set a quota for printing per period not exceeding 100 million copies by dividing the printing management into 100 sets of the lottery. Each set of the lottery will have 1 million copies. That means winning a government lottery like the 1st prize is 0.0001% probability, or 1 in a million, which is a very small chance. The chances of winning the lottery prizes are as follows.
Prizes | Chances to win the prize |
1st Prize | 0.0001% |
2nd Prize | 0.0005% |
3rd Prize | 0.0010% |
4th Prize | 0.0050% |
5th Prize | 0.0100% |
1st side Prize | 0.0002% |
The Last Three Digits Prize | 0.4000% |
The Last Two Digits Prize | 1.0000% |
The lucky person who won the government lottery must also be taxed. The tax rate varies according to the type of prize, divided as follows.
If we win the Government Lottery (normal type), the winner will be taxed a withholding tax of 0.5% of the prize money when we redeem the prize as follows.
If you win a special charity lottery, the winner will be taxed a withholding tax at 1% of the prize money when you redeem the prize.
Both types of lottery will be exempted from personal income tax, which will prevent you from having to file the annual personal income tax again.
In conclusion, the odds of winning a particular prize are only 1.4%. On the other hand, the odds of not winning a prize are 98.6%. Despite the small odds of winning a prize, we risk it every month and hope that one day the 0.0001% chance will be ours, right?
References from
news.ch7 / wayaccounting
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