Rhode Island hosts a unique event each year called the Wild Money Drawing. This exciting drawing gives residents the chance to win cash prizes up to $2 million! Keep reading to learn more about when and where the Wild Money Drawing takes place in Rhode Island.
What is the Wild Money Drawing?
The Wild Money Drawing is an annual event hosted by the Rhode Island Lottery. It offers a top prize of $2 million, with additional prize levels ranging from $20,000 up to $500,000.
To enter the Wild Money Drawing, players must purchase a $10 Wild Money ticket. This qualifies them for entry into the grand prize drawing, which takes place once a year. Thousands of Rhode Islanders buy Wild Money tickets each year for a chance to win these incredible cash prizes.
How the Wild Money Drawing Works
The Wild Money Drawing utilizes a random number generator to select each of the winning ticket numbers. All Wild Money tickets purchased during the purchase period are included in the drawing.
The lottery draws a 5-digit winning number to determine the $2 million grand prize winner. They also draw numbers to determine winners at the additional prize levels.
To win the top prize, players must match the first 5 numbers drawn. For the smaller prizes, players need to match a partial sequence of numbers. For example, matching just the first 2 numbers wins a $20,000 prize.
Prize Breakdown
Here is the full breakdown of prizes available in the Wild Money Drawing:
- $2 million grand prize for matching the complete 5-digit sequence
- $500,000 for matching the first 4 numbers
- $50,000 for matching the first 3 numbers
- $5,000 for matching the first 2 numbers
- $500 for matching just the first number
- $20,000 for matching the last 4 numbers
- $2,000 for matching the last 3 numbers
- $200 for matching the last 2 numbers
- $20 for matching just the last number
As you can see, the prize structure provides exciting potential payouts even if players don’t hit the full grand prize number. Matching just a portion of the sequence can still result in a nice cash windfall!
When Does the Drawing Take Place?
The Rhode Island Wild Money Drawing takes place once a year, with the drawing date set in advance. For 2023, the drawing is scheduled for Wednesday, May 3rd.
Leading up to the drawing date, there is about a six week period where players can purchase Wild Money tickets to qualify for entry. Sales generally begin in mid-March. The purchase deadline is always about one week before the scheduled drawing date.
2023 Wild Money Drawing Schedule
- Ticket Sales Begin: March 15
- Ticket Sales Deadline: April 26
- Drawing Date: May 3
Mark your calendars for Wednesday, May 3, 2023! That’s when the Rhode Island Lottery will hold the next Wild Money Drawing with millions in cash prizes up for grabs.
What Time is the Drawing Held?
The excitement builds all day long on Wild Money Drawing day. The Rhode Island Lottery hosts the drawing in the evening so that players can gather to watch the results live.
The official time for the 2023 drawing is 8:00 PM Eastern Time on Wednesday, May 3rd. At 8:00 PM sharp, the lottery begins announcing the winning Wild Money numbers.
Leading up to the big event, local TV stations and radio shows often provide coverage and build-up anticipation. Some venues around Rhode Island also host Wild Money Drawing watch parties.
How to Watch the Drawing
There are a few different ways to watch the results of the Wild Money Drawing:
- Tune in to local TV stations covering the live drawing
- Listen to local radio stations announcing the numbers
- Watch online via live streaming on the Rhode Island Lottery website
- Attend a Wild Money Drawing watch party
- Follow the Rhode Island Lottery Facebook page for prompt winner announcements
The lottery also posts the winning number combinations on their website as soon as they are drawn. Some local news outlets also display the numbers online and in their mobile apps.
Where Does the Drawing Take Place?
The Rhode Island Lottery hosts the Wild Money Drawing at their headquarters in Cranston, RI. The address is:
Rhode Island Lottery Headquarters
1425 Pontiac Avenue
Cranston, RI 02920
The lottery moved to this location in 2006 after outgrowing their previous building. The new headquarters provided additional capacity for major drawings like the Wild Money game.
The drawing studio at lottery headquarters is filled with excitement on the day of the event. Lottery officials, local dignitaries, and members of the media gather to watch the proceedings live.
Drawing Procedures
Strict security protocols are in place for the fairness and integrity of the drawing results. The entire process is overseen by government officials and accounting auditors.
The lottery utilizes a Random Number Generator to create the winning numbers. This specialized computer system relies on sophisticated algorithms and encryption to produce truly random sequences.
Lottery officials test the system thoroughly prior to the drawing date. The device is sealed and locked in between tests and audits to prevent tampering.
On drawing day, officials inspect the device once again before activating the system to generate the Wild Money numbers. The results are entered into a central computer monitored by the auditors.
Multiple individuals witness each step of the process to ensure proper protocols are followed. The public can have full confidence that the Wild Money Drawing results are fair and random.
Who Can Play and Win?
The Wild Money Drawing is open to all individuals who are at least 18 years of age. No state residency is required. Anyone across the United States can purchase a Wild Money ticket from an authorized Rhode Island Lottery retailer during the purchase period.
If you buy a ticket, you can win regardless of where you live. Prizes up to $599 can be claimed at any Rhode Island Lottery retailer. Larger prizes must be claimed directly at Lottery headquarters in Cranston.
Buying Tickets
You can buy Wild Money tickets at hundreds of lottery retailers across Rhode Island. Many convenience stores, gas stations, and grocery stores carry the game. Just look for the Wild Money point-of-sale displays.
Sales begin around March 15 each year at 5:00 AM local time. You can generally buy tickets up until around 9:00 PM on the purchase deadline date in late April.
Tickets cost $10 each and print on demand from the lottery terminal. Be sure to sign the back of your ticket for security purposes. Then keep it safe until after the drawing.
Claiming Prizes
For small prizes up to $599, you can cash in your winning Wild Money ticket at any authorized lottery retailer. They will verify your ticket and pay out your prize amount.
For larger prizes of $600 or more, you must claim your prize directly at Rhode Island Lottery headquarters. Bring a valid photo ID and your original signed ticket.
You have one year from the date of the drawing to claim any Wild Money prizes. Be sure to check your tickets promptly after the May event!
Odds of Winning
With thousands of tickets sold, the odds of winning the Rhode Island Wild Money top prize are around 1 in 500,000. However, the overall odds of taking home any prize amount are much better at around 1 in 32.
Here is a table summarizing the odds of winning at each prize level:
| Prize Amount | Odds of Winning |
|---|---|
| $2,000,000 (Grand Prize) | 1 in 500,000 |
| $500,000 | 1 in 167,000 |
| $50,000 | 1 in 21,000 |
| $5,000 | 1 in 2,100 |
| $500 | 1 in 210 |
| $20,000 | 1 in 21,000 |
| $2,000 | 1 in 2,100 |
| $200 | 1 in 210 |
| $20 | 1 in 21 |
| Any Prize | 1 in 32 |
As you can see, matching even just a portion of the number sequence comes with a solid shot at a nice prize. The overall 1 in 32 odds of winning any amount make the Wild Money Drawing great entertainment value for just a $10 ticket.
Taxes on Winnings
For United States citizens, Wild Money Drawing prizes are subject to tax withholding. Non-resident aliens are subject to 30% withholding per IRS regulations.
The Rhode Island Lottery will withhold taxes from prizes over $600. Here are the withholding rates:
- Prizes $600 – $1499: 5% withholding
- Prizes $1500 – $4999: 7% withholding
- Prizes $5000+: 24% withholding
For example, the cash payout on the $2 million grand prize would come to about $1.52 million after taxes. Still an amazing windfall!
Consult a tax professional to determine your specific tax liability. You may owe additional taxes beyond the withholding when you file your returns for the year.
Set Aside Funds for Taxes
Be sure to set aside a portion of any major Wild Money prizes to cover your tax bill. Work with a financial advisor to determine an appropriate amount. You don’t want to spend all the money and then get hit with a huge tax payment.
Responsible money management is key after a big lottery win. Don’t overspend too quickly. Invest wisely. Set aside ample funds for taxes.
History of Winners
Since the Wild Money Drawing began in 1992, it has created dozens of big winners across Rhode Island and surrounding states. Here is a quick history of recent grand prize winners:
- 2022 – $2 million won by a man in Providence, RI
- 2021 – $2 million won by a couple in Seekonk, MA
- 2020 – $2 million won by a woman in Warwick, RI
- 2019 – $2 million won by a man in Attleboro, MA
- 2018 – $2 million won by a retiree in Cranston, RI
As you can see, the grand prize often lands right in Rhode Island but has also been claimed by out-of-state ticket holders. Wherever you live, you could be the next Wild Money millionaire!
Smaller Prize Winners
While the top prize understandably garners attention, thousands of others have won smaller prizes in the Wild Money Drawing. Just in the most recent 2022 drawing, over 5,000 lucky players matched some portion of the number sequence.
Prizes from $20 up to the $500,000 level are not uncommon. Matching just 2 or 3 numbers is still a thrilling win.
Will 2023 be your year to score a major Wild Money victory? It could happen with just one lucky $10 ticket!
Why Play the Wild Money Drawing?
The Rhode Island Wild Money Drawing provides an exciting chance to win life-changing prizes. Here are some top reasons to play:
- Millions in total prizes up for grabs
- Fantastic 1 in 32 overall odds of winning
- Drawing for just $10 per ticket
- Prize levels from $20 up to $2 million
- Purchase tickets conveniently across Rhode Island
- climax of excitement surrounding the live drawing event
- All drawing proceeds support vital state programs
For just the cost of a movie ticket, you could have a shot at becoming a millionaire! The Wild Money Drawing delivers outstanding entertainment value and helps raise funds for worthy causes across the state.
Where Do Drawing Proceeds Go?
All proceeds from the Rhode Island Lottery, including Wild Money ticket sales, benefit key state programs and services. The majority of funds support education initiatives.
Since the lottery began in 1974, over $9 billion has gone to vital state causes. Just in fiscal year 2022, more than $400 million in lottery profits were transferred to the state’s general fund.
So when you play the Wild Money Drawing, you’re not only having fun and pursuing possible prizes, but also directly supporting important initiatives across Rhode Island. It’s a win-win!
Conclusion
The Rhode Island Wild Money Drawing offers the chance to win incredible prizes reaching $2 million. Taking place each May, it culminates in an exciting live drawing event at lottery headquarters.
With excellent odds and millions in cash on the line, the Wild Money Drawing is a Rhode Island tradition not to be missed. Be sure to buy your tickets after mid-March and tune in to the big drawing on May 3rd for your shot at victory!
