The Virginia State Lottery has announced it is offering a cash prize of $2.5 million to win the largest lottery prize in state history, with a $1 million prize for the first prize winner.
The Virginia Lottery said on Monday that it had reached a $5 million agreement with the Commonwealth of Virginia to award $1.5 billion to the winner of the 2016 Virginia Lotteries Biggest Lotto and Cash Prize, which is set to be awarded on December 31, 2020.
The Biggest Lottery winner will be paid $2 million.
The cash prize is valued at $1,000,000 per win, with $500,000 awarded to the first to reach $5,000.
The state lottery said that the winner will receive a $500 gift card, which can be redeemed for any number of merchandise, games, merchandise, and prizes.
In a statement, the lottery said it was thrilled to have reached an agreement with Virginia to be named the winner.
“We are thrilled that we have found a partner in Virginia that will be the most generous and generous in terms of matching the prize money awarded to our Biggest prize winner, the Virginia Lotters Biggest Winner,” the lottery wrote in a statement.
“With that said, the Commonwealth’s participation in the Biggest Prize will not be affected by the Big Lottery’s agreement with Virginias lottery.
The winner will not have to pay a penny for their winning ticket.
The prize is the largest in the history of the state lottery and the second largest in Virginia state history.
The $1 billion, 10-year contract with the state was reached after Virginia lawmakers passed a bill last month that created the $5 billion state lottery.
The deal is expected to give state officials $7 billion to support infrastructure and public safety.