Michigan Lottery: Lotto 47 jackpot at $7.95 million for next drawing

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The Michigan Lottery's Lotto 47 jackpot is now estimated at $7.95 million after no one matched all the winning numbers drawn Wednesday.

Here's what you need to know before the next Lotto 47 drawing:

What is Lotto 47?

Lotto 47 is a draw game with an instant win option. Players select six numbers from one to 47 for a chance to win a jackpot starting at $1 million. The jackpot grows until someone wins it. The game is only available in Michigan.

Numbers are drawn every Wednesday and Saturday. Anyone who matches all six numbers wins the jackpot. Players matching three, four and five numbers also win prizes. The overall odds of winning are 1 in 47.

How much do Lotto 47 tickets cost?

Tickets for Lotto 47 cost $1.

When is the next Lotto 47 drawing?

The next Lotto 47 drawing is Saturday, Aug. 12. Drawings are held at 7:29 p.m. every Wednesday and Saturday.

How late can you buy a Lotto 47 ticket?

In-store and online tickets sales for the current draw are available until 7:08 p.m. the night of the drawing.

What are the Lotto 47 prizes?

The prizes for the regular Lotto 47 drawing are:

• Match 6 of 6: Jackpot
• Match 5 of 6: $2,500
• Match 4 of 6: $100
• Match 3 of 6: $5

What are the odds of winning the Lotto 47 jackpot?

The odds of winning the Lotto 47 jackpot are 1 in 10,737,573.

What's the Double Play Drawing?

Lotto 47 players have a second chance to win up to $1.5 million each drawing by adding Double Play to a wager for $1 more per panel per draw. Players can win prizes in the regular drawing, the Double Play drawing or both. Double Play drawings occur after the Lotto 47 drawing.

The second set of winning numbers is drawn from the pool of numbers for each game, so players can match the same numbers in both the regular drawing and the Double Play drawing. The Double Play option is only available on in-store purchases.

The overall odds of winning are 1 in 47.

What's the EZmatch?

Players can select EZmatch for a chance to win up to $500 instantly. Match any of your EZ match numbers with any of your Lotto 47 numbers and win the amount shown next to the EZmatch number instantly. EZmatch adds $1 more per ticket and is only available on in-store purchases.

The overall odds of winning are 1 in 5.

How do I find the winning Lotto 47 numbers?

The winning Lotto 47 numbers can be found on the Michigan Lottery website or app.

What happens if you win the Lotto 47 jackpot?

Jackpot winners can choose either a cash option or an annual payout over the next 30 years. When the winner chooses the cash option, they will receive their share of the prize pool in one lump-sum payment.

If two or more persons match all six winning numbers, the jackpot is shared equally among winning persons.

Jackpot winners have 60 days from the date they claim their prize to request the cash option method of payment.

Winners should sign the back of their ticket immediately, according to the Michigan Lottery.

Lotto 47 tickets are valid for one year from the drawing date.