The appeal of EuroMillions among lottery players stems from the massive jackpot of €250 million, or is it £191 million? Are you confused? Well, it gets trickier because the main jackpot amount is not the only difference.
You might have noticed that other EuroMillions lottery results have prize tiers with varying values across the old continent. This fact is something often overlooked by players from the nine European participating countries. We decided to clarify the situation and reveal why the prize amounts do not align across Europe.
Credit: EuroMillions website
Quick Jump
The Pound vs. Euro Dynamic
Considering EuroMillions is a European lottery game, it was logical for the organizers to embrace the Euro as the base currency for the lottery. After all, seven of the nine participating nations used the Euro. The problem arises with the United Kingdom and Switzerland, two European countries preferring an independent monetary policy.
Because one Euro does not equal one Pound in value, the prizes will not have identical numerical value. The EuroMillions jackpot is calculated by the exchange rate on the day of the draw. This rule creates the perception there are two different jackpots. To be diligent, we have to point out that the jackpot is CHF 235 million for Swiss players.
How the Exchange Rate Erodes or Pumps Up Jackpots
Currencies tend to gain and lose value, depending on various economic factors. The Euro and Pound are not immune to such fluctuations. The big question in the context of the EuroMillions is which side is the bigger loser when the exchange rate takes a dip.
We can offer real-life examples from the UK by comparing two life-changing wins. In 2012, Adrian and Gillian Bayford decided to use a EuroMillions number checker and inspect their ticket status, when they found out that the maximum jackpot of €190 million, or £148 million after currency conversion, was in their hands.
An identical €190 million max jackpot landed in the UK in 2019, claimed by an anonymous player. On this occasion, a favorable exchange rate increased the prize to £170 million. The math is simple! The 2019 winner took home £22 million more than the Bayfords won 2012, all thanks to the exchange rate.
It might be counterintuitive, but from a UK lottery player’s perspective, a weak Pound is a good thing. The reasoning is simple. The more Pounds you can purchase with a Euro translates into a larger jackpot in Sterling.
How Are Non-Jackpot Prizes Calculated
The currency exchange rate has a lesser effect on non-jackpot prizes, which are created from a pari-mutuel prize pool. The lower-tier EuroMillions prize amounts are calculated with a formula that includes a percentage of every country’s contribution.
The allocated prize amount per tier for every draw is divided by the number of winners. It’s not uncommon for a player who matched 2 numbers to win more than a player with 4 winning numbers, if the latter prize category has more winners than the former.
There are also supplementary games, and by buying a EuroMillions ticket you are automatically enrolled in those games. For example, the supplementary game in France is My Million, and 30 cents of every EuroMillions ticket sale goes to its prize fund.
Conclusion
It’s recommended to have a full grasp of the mechanics behind the EuroMillions lottery. We offered a crisp overview of why the jackpot amount varies between countries. You can bother with exchange rates, but before trying to predict the prize amount, don’t forget to buy a EuroMillions ticket at the best online lottery sites and play for massive jackpots.
