No 1 in Gambling

MIDDLESEX, ENGLAND, June 12, 2010 /24-7PressRelease/ -- As the world prepares for the start of the biggest live sporting event to kick off on Friday, online casinos are certainly getting in on all the action with a flurry of promotions being offered. A standout one would be the Soccer Fever Promotion set to take place from the 18th of June to the 10th of July 2010 at all Fortune Lounge Online Casinos, including Royal Vegas Online Casino and Platinum Play Online Casino.

The promotion takes place during the Round of 16, where players are able to choose a team that they think has the best prospect of winning the match they are playing, and win in weekly tournaments if their prediction was correct.

Prizes in the promotion include triple Bonus Rewards Points and up to 10,000 casino credits.

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Winnings are not necessarily paid out in a lump sum, contrary to the expectation of many lottery participants. In certain countries, such as the USA, the winner gets to choose between an annuity payment and a one-time payment. The one-time payment is much smaller, indeed often only half, of the advertised lottery jackpot, even before applying any withholding tax to which the prize may be subject. The annuity option provides regular payments over a period that may range from 10 to 40 years.

In some online lotteries, the annual payments can be as little as $25,000 over 40 years, with a balloon payment in the final year. This type of installment payment is often made through investment in government-backed securities. Online lotteries pay the winners through their insurance backup. However, many winners choose to take the lump-sum payment, since they believe they can get a better rate of return on their investment elsewhere.

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