Lottery agency sweetens the Sunday pot

Sunday is the Día del Trabajo and the state lottery agency is giving Costa Ricans and residents a chance to become capitalists.

The top prize in the Sunday lottery is 200 million colons, some $377,000.

Of course this is a marketing ploy for people to participate in what has been called the voluntary tax on stupidity.

The agency, the Junta de Protección Social distributes a large quantity of the money collected to 400 charities and non-profit organizations. So the return on a lottery investment is only a percentage of the amount paid.

But the Junta plans two identical issues of 100,000 full tickets each. A full entero of 10 tickets costs 12,000 colons, 4,000 colons more than the usual Sunday lottery. But a 1,200-colon investment in just one-tenth of a lottery ticket or what is called a fraction would mean a 20 million-colon prize if the ticket is a winner.  That’s about $38,000, which is tax-free in Costa Rica.

Expats who win should see their accountant or perhaps the Panamà law firm of Mossack Fonseca & Co.

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