The toto jackpot is a prize that can be won on Toto, a Singapore lottery game. To win, you need to match the numbers that are drawn in the draw. The jackpot prizes range from S$1 to S$9 million.
Toto is a pari-mutuel game, which means that the payout % of the games are not changing. However, the prizes for Toto are based on a percentage of the total income from the betting pool and the number of winners.
A toto jackpot can be won by matching three of the six Toto numbers that are drawn. If a punter wins, they can choose to receive the prize in cash or a cheque.
Getting the toto jackpot is not as easy as it looks. The odds of winning the jackpot are about 1 in 14 million.
It is important to note that the jackpot does not snowball after the fourth consecutive draw. This is because the jackpot amount will cascade if there is no Group 1 winner after the four draws.
This means that if there is no Group 1 winner after four draws, the jackpot prize will not increase beyond 38% of the prize pool for the fourth draw plus the amounts snowballed from the previous three draws. If there is a Group 1 winner after the fifth draw, the prize money will then cascade again and be shared equally amongst the winning Toto entries.