What Would You Actually Keep From a $90 Million Lotto Max Win?
You would keep the full $90 million: Canada does not tax lottery winnings. The catch is what comes next. The CRA taxes interest earned on the money, so $3.6 million a year at an assumed 4% return shrinks to about $1.67 million after tax in Ontario. A US winner of an advertised $90M jackpot would take roughly $23.9M after federal tax on the cash option.
The short answer: you keep all $90 million, then the taxman shows up yearly
A $90 million Lotto Max jackpot arrives as a single tax-free lump sum. The CRA lists lottery winnings of any amount as income you do not report. But the investment income the money earns is taxable, and at Ontario’s 2026 top rate of 53.53% more than half of every interest dollar goes to tax.
The search spike behind this story is simple: someone in Alberta matched all seven numbers in the Tuesday, Oct. 20, 2026 Lotto Max draw and won $90 million, the largest lottery prize ever offered in Canada. As of the latest reports we opened (21 October), the ticket holder had not yet come forward.
The trend headline is “$90 million winner.” The reality is better than in the US and similar to the UK: no tax on the win. What a winner actually *lives on* is the return on that money, and that is taxed like anyone else’s interest, at rates above 53% in Ontario, BC and Quebec.
Lottery jackpot after-tax calculator
Enter a jackpot, how many tickets share it and where you live. See the lump sum you keep, the after-tax income it could throw off each year, and how long it lasts at your spending rate. Estimates only, not financial advice.
- Your share of the jackpot
- $90,000,000
- Lump sum you keep
- $90,000,000
- Investment income a year (pre-tax)
- $3,600,000
- Investment income a year (after tax)
- $1,672,920
- How long the money lasts
- Indefinitely (principal never falls in nominal terms)
Estimates using top marginal rates applied to all investment income and an assumed nominal return, ignoring inflation. Canadian and UK lottery wins are not taxed; US wins are taxed federally (and by most states); non-residents face 30% US withholding. Not financial, tax or legal advice.
Who won the $90 million Lotto Max jackpot on October 20?
A single ticket sold in Alberta won the $90 million jackpot on Oct. 20, 2026. The winning numbers were 08, 15, 19, 23, 26, 28 and 34, bonus 38. The jackpot had sat at the $90 million cap after going unwon in earlier draws, including Friday, Oct. 16.
Daily Hive, citing OLG, reported that the winning ticket was bought in Alberta and that the holder “has yet to come forward.” In Western Canada the prize is paid by the Western Canada Lottery Corporation (WCLC), which withholds the retailer location of a major win until the prize is claimed and paid.
The jackpot rolled over for several draws before it was won. It had already reached the cap, so instead of growing, extra money went into secondary prizes: Maxmillions ($1 million prizes offered once the jackpot reaches $50 million) and Maxplus ($100,000 prizes, one per $1 million of jackpot, so 90 at $90 million).
For context, the previous biggest single-ticket haul was the $80 million jackpot from the Dec. 30, 2025 draw, sold in London, Ontario and claimed in April 2026 by two friends who also collected a second prize of about $403,000.
Why was the Lotto Max jackpot stuck at $90 million?
$90 million is the Lotto Max jackpot cap, raised from $80 million in April 2026. The new format started with the Tuesday, April 14, 2026 draw and also raised the price of a play from $5 to $6, the first increase since the game launched in 2009.
BCLC says each $6 play now includes four selections of seven numbers from 1 to 52 (previously three selections from 1 to 50). Draws stay on Tuesdays and Fridays. Maxmillions still kick in at $50 million, and the new Maxplus $100,000 prizes are added in every draw.
Lotto Max jackpot cap, 2009–2026 ($ millions)
Source: BCLC (2026 change); Wikipedia summary of Lotto Max game history (earlier caps)View the data
| Label | Value |
|---|---|
| 2009 | $50M |
| 2015 | $60M |
| 2019 | $70M |
| 2024 | $80M |
| 2026 | $90M |
Largest Lotto Max jackpots won ($ millions)
Source: Wikipedia (2015–2024); CP24 (Dec 2025); Daily Hive citing OLG (Oct 2026)View the data
| Label | Value |
|---|---|
| Jul 2015 | $55M |
| Sep 2015 | $60M |
| Jun 2019 | $65M |
| Sep 2024 | $80M |
| Dec 2025 | $80M |
| Oct 2026 | $90M |
What are the odds of winning the Lotto Max jackpot?
The odds of winning the Lotto Max jackpot are 1 in 33,446,140 per $6 play. That is slightly longer than the old 1 in 33,294,800, even though each play now has four selections. The odds of winning any prize improved from about 1 in 7 to about 1 in 5.8.
The math checks out. There are 133,784,560 ways to choose 7 numbers from 52. Divide by four selections per play and you get exactly 33,446,140. Under the old game, 99,884,400 combinations divided by three selections gave 33,294,800. In other words, the jackpot got about 0.5% harder to hit while the ticket got 20% more expensive.
| Match | Prize | Odds (1 in) |
|---|---|---|
| 7/7 | Jackpot ($10M–$90M) | 33,446,140 |
| 6/7 + bonus | Share of prize pool | 4,778,020 |
| 6/7 | Share of prize pool | 108,591 |
| 5/7 + bonus | Share of prize pool | 36,197 |
| 5/7 | Share of prize pool | 1,684 |
| 4/7 + bonus | Share of prize pool | 1,010 |
| 4/7 or 3/7 + bonus | $20 | 72.2 |
| 3/7 | Free play | 7.0 |
| Any prize | 5.8 |
Is a $6 Lotto Max ticket worth it at a $90 million jackpot?
At $90 million, the jackpot alone is worth about $2.69 of each $6 play in expected value. Adding the Oct. 20 draw’s 20 Maxmillions and 90 Maxplus prizes lifts that to about $3.56, or 59% of the ticket price, before smaller prizes and before any risk of splitting.
Expected value is what a ticket returns on average over millions of plays. It ignores taxes (none apply in Canada) and assumes nobody shares your numbers.
- Jackpot $90,000,000 ÷ 33,446,140 = $2.69 per play.
- Maxmillions + Maxplus Each of the 20 Maxmillions ($1M) and 90 Maxplus ($100,000) sets has the same 4-in-133,784,560 chance per play. $29,000,000 ÷ 33,446,140 = $0.87.
- Fixed small prizes $20 × (1 ÷ 72.2) = $0.28, plus a free play about 1 time in 7. Even valuing that free play at a full $6 (generous), all of this totals about $4.69, or 78% of $6.
- Pool prizes The 6/7 and 5/7 tiers pay a share of a pool that depends on sales and the number of winners, so we leave them out. They add relatively little at these odds.
Are lottery winnings taxed in Canada?
No. The CRA lists “lottery winnings of any amount” as income you do not report or pay tax on. WCLC says all its cash prizes are tax-free within Canada, and OLG says lottery wins in Ontario are generally not taxed. The exception: “any interest that you earn when you invest lottery winnings must be reported.”
That is the key distinction. The $90 million cheque is a windfall. The moment it sits in a high-interest savings account, a GIC or a portfolio, the income it produces is taxed at your normal marginal rate, and at $3.6 million a year you are deep in the top bracket. In 2026 the top bracket starts at $253,414 of income in Ontario and Quebec, $265,545 in BC and $370,220 in Alberta.
Interest is the least tax-friendly kind of investment income. Sun Life’s 2026 tax card puts Ontario’s top rate at 53.53% on interest, but 39.34% on eligible Canadian dividends and 26.76% on capital gains. How the money is invested changes the yearly tax bill a lot.
Top 2026 combined marginal tax rate on interest income, by province
Source: Sun Life Global Investments, 2026 Quick Reference Tax Card (rates as of Jan. 1, 2026)View the data
| Label | Value |
|---|---|
| Newfoundland & Labrador | 54.80% |
| Nova Scotia | 54.00% |
| Ontario | 53.53% |
| British Columbia | 53.50% |
| Quebec | 53.31% |
| New Brunswick | 52.50% |
| PEI | 52.00% |
| Manitoba | 50.40% |
| Alberta | 48.00% |
| Saskatchewan | 47.50% |
How much interest does $90 million earn after tax?
At an assumed 4% return, $90 million earns $3.6 million a year, which becomes about $1.67 million after tax in Ontario, $1.67 million in BC, $1.68 million in Quebec and $1.87 million in Alberta. That is roughly $139,000 to $156,000 a month to spend without touching the principal.
| Province | Top rate | Yearly interest | Tax | After tax / year | After tax / month |
|---|---|---|---|---|---|
| Ontario | 53.53% | $3,600,000 | $1,927,080 | $1,672,920 | $139,410 |
| British Columbia | 53.50% | $3,600,000 | $1,926,000 | $1,674,000 | $139,500 |
| Quebec | 53.31% | $3,600,000 | $1,919,160 | $1,680,840 | $140,070 |
| Alberta | 48.00% | $3,600,000 | $1,728,000 | $1,872,000 | $156,000 |
Two simplifications push these numbers slightly in the cautious direction. We applied the top rate to every dollar, though the first roughly $250,000 to $370,000 is taxed at lower rates. And we treat the 4% as pure interest. A mix of dividends and capital gains would be taxed less each year.
Lotto Max vs Powerball: how much would a US winner keep?
A US winner of an advertised $90 million jackpot would keep about $23.9 million after federal tax, a quarter of what a Canadian keeps. US jackpots are advertised as annuity totals; the lump-sum cash option was about 42% of the advertised figure in October 2026, and the IRS then taxes it at up to 37%, plus any state tax.
Here is the arithmetic. Powerball’s Oct. 21, 2026 jackpot was advertised at $639 million with a cash value of $269.0 million, or 42.1%. Applied to $90 million, the cash option would be about $37.9 million. The IRS requires 24% withholding on lottery winnings above $5,000, so about $9.1M is taken at claim time. But the top 2026 federal rate is 37% (on income over $640,600 for single filers), so the winner owes another 13% (about $4.9M) when filing. Federal tax totals about $14.0M, leaving $23.9M before state tax.
In the UK, the Gambling Commission says gambling winnings are tax-free “regardless of the amount won,” so a UK jackpot is kept in full like Canada’s. Savings interest above allowances is taxed, at 45% for additional-rate taxpayers in 2026–27 (income over £125,140).
What you keep from a $90M advertised jackpot (lump sum, $ millions)
Source: KalQLater calc using CRA, UK Gambling Commission, Powerball (cash ratio, 21 Oct 2026), IRS W-2G instructions and 2026 bracketsView the data
| Label | Value |
|---|---|
| Canada | $90.0M |
| UK | $90.0M |
| US cash option, before tax | $37.9M |
| Canadian buying in US (30% withheld) | $26.5M |
| US resident after 37% federal | $23.9M |
| Canada | United States | United Kingdom | |
|---|---|---|---|
| Tax on the win | None | Federal income tax up to 37% + state | None |
| Withholding at claim | None | 24% (30% for foreign winners) | None |
| Payout form | Lump sum | Annuity or cash option | Lump sum |
| Tax on investment income | Yes, top rate 47.5%–54.8% by province | Yes, ordinary or investment rates | Yes, 45% top savings rate |
How long would $90 million last?
Spent from a mattress, $90 million lasts 90 years at $1 million a year and 18 years at $5 million. Invested at 4% with Ontario-rate tax on the interest, it never runs out at up to about $1.67 million a year of spending, and lasts about 22 years at $5 million.
| Spend per year | No return | 4% return, taxed at 53.53% (Ontario) |
|---|---|---|
| $500,000 | 180 years | Never runs out |
| $1,000,000 | 90 years | Never runs out |
| $1,500,000 | 60 years | Never runs out |
| $2,000,000 | 45 years | About 98 years |
| $3,000,000 | 30 years | About 44 years |
| $5,000,000 | 18 years | About 22 years |
| $10,000,000 | 9 years | About 10 years |
The break-even point is the after-tax return: 4% × (1 − 0.5353) = 1.8588% a year, or $1,672,920 on $90 million. Spend less and the pot never shrinks in nominal terms. Spend more and the gap compounds quickly.
What should you do if you win a big Lotto Max jackpot?
Sign the ticket, keep it safe and claim within one year of the draw date. Big prizes cannot be paid at a store: OLG pays only prizes under $1,000 at retail, and WCLC requires a winner interview and photo for claims of $10,000 or more.
- 1Sign and secure the ticket
WCLC advises printing your legal name, address and phone number on the back and storing a large winning ticket somewhere safe.
- 2Mind the one-year deadline
OLG gives “exactly one year from the draw date” for lottery terminal tickets; WCLC says to claim within a year of the draw. For the Oct. 20, 2026 draw, that means by Oct. 20, 2027.
- 3Expect publicity
WCLC says it has no obligation to pay unless the winner lets it publish their name, town and a recent photo. OLG requires a photo of major winners and lists wins of $1,000 or more online. Rules differ by province, so ask your lottery about any exceptions.
- 4Settle group and family claims in writing
OLG requires a signed group list for shared tickets. Ontario also checks prize claims of $1,000 or more against Family Responsibility Office arrears.
- 5Get independent advice before spending
A tax lawyer and a fee-only financial planner can help with investment mix, gifts, estate planning and the tax on investment income. The London, Ontario $80M winners said they wanted expert advice and to plan for future generations.
- 6Park the money while you plan
There is no tax deadline on the win itself, so there is no rush. Keep in mind that deposit insurance limits are far below $90M per institution.
Claims vs evidence
“The $90M Lotto Max winner will lose half to taxes.”
CRA: lottery winnings of any amount are not taxed. Only income earned on the money is taxed.
False“The winner can live tax-free forever.”
CRA requires interest on invested winnings to be reported; at 2026 top rates up to 53.53% in Ontario.
Misleading“The $90M jackpot is the biggest in Canadian history.”
It is the largest lottery prize ever offered in Canada, above the previous $80M cap; the previous biggest single win was $80M.
True“The new $6 Lotto Max gives you better odds.”
Odds of any prize improved to about 1 in 5.8, but jackpot odds got slightly longer: 1 in 33,446,140 vs 1 in 33,294,800.
Partly true“A $90M jackpot makes a ticket a good bet.”
KalQLater estimates about $3.56 of value per $6 play from the jackpot plus Maxmillions and Maxplus, before split risk.
False“A US winner keeps about the same as a Canadian.”
Cash option about 42% of the advertised jackpot, then up to 37% federal tax: about $23.9M from $90M.
FalseFrequently asked questions
Do you pay tax on a $90 million Lotto Max win in Canada?
No. The Canada Revenue Agency lists lottery winnings of any amount as non-taxable, and WCLC says all its cash prizes are tax-free within Canada. You receive the full $90 million. However, interest, dividends and capital gains earned after you invest it are taxable.
How much interest would $90 million earn a year?
At an assumed 4%, $90 million earns $3.6 million a year before tax. Taxed at Ontario’s 2026 top rate of 53.53%, that leaves $1,672,920, or about $139,400 a month. In Alberta, with a 48% top rate, it leaves $1,872,000.
Where was the $90 million Lotto Max ticket sold?
The winning ticket for the Oct. 20, 2026 draw was sold in Alberta, according to reports citing OLG. As of 21 October, the winner had not come forward, and the exact retailer had not been confirmed. WCLC withholds the store location until a major prize is claimed and paid.
What are the odds of winning Lotto Max?
Since April 14, 2026, the odds of winning the jackpot are 1 in 33,446,140 per $6 play, which includes four selections of seven numbers from 1 to 52. The odds of winning any prize are about 1 in 5.8.
What is the Lotto Max jackpot cap?
The cap is $90 million, up from $80 million, starting with the April 14, 2026 draw. Once the jackpot reaches $50 million, $1 million Maxmillions prizes are added, and every draw now also has one $100,000 Maxplus prize per $1 million of jackpot.
How long do you have to claim a Lotto Max prize?
One year from the draw date. OLG says customers have exactly one year to claim terminal lottery prizes, and WCLC says to claim within a year of the draw. A winner of the Oct. 20, 2026 draw has until Oct. 20, 2027.
Can a lottery winner stay anonymous in Canada?
Usually not by default. WCLC says it need not pay a prize unless the winner allows publication of their name, town and photo, and requires an interview and photo for claims of $10,000 or more. OLG requires a photo of major winners. Rules vary by province.
Would a Canadian pay tax on a US Powerball win?
Not in Canada: the CRA says US lottery winnings are not taxable in Canada. But the IRS generally withholds 30% from gambling winnings paid to foreign persons, and the CRA does not allow a Canadian credit for that withholding.
How we built this analysis
- Jackpot odds: C(52,7) = 133,784,560 combinations ÷ 4 selections per play = 33,446,140, matching BCLC’s published figure. Old format: C(50,7) = 99,884,400 ÷ 3 = 33,294,800.
- Expected value per $6 play: $90,000,000 ÷ 33,446,140 = $2.69; Maxmillions and Maxplus ($20M + $9M offered on Oct. 20 per CP24) ÷ 33,446,140 = $0.87; $20 prize × 1/72.2 = $0.28; free play valued at $6 × 1/7 = $0.86. Pool tiers excluded; no split assumed.
- Interest example: $90,000,000 × 4% = $3,600,000; tax = interest × 2026 top combined rate (ON 53.53%, BC 53.50%, QC 53.31%, AB 48.00%, Sun Life tax card). Applying the top rate to all income slightly overstates tax.
- US comparison: cash ratio = $269.0M ÷ $639M = 42.1% (Powerball, 21 Oct 2026); $90M × 42.1% = $37.89M; federal tax at 37% = $14.02M, leaving $23.87M; 24% withholding = $9.09M. Foreign-winner 30% withholding = $11.37M, leaving $26.52M. State taxes excluded.
- Years money lasts: with no return, years = $90M ÷ spending. With return, net rate r = 4% × (1 − 0.5353) = 1.8588%; years = −ln(1 − r × 90M ÷ spending) ÷ ln(1 + r) when spending exceeds $1,672,920; otherwise the principal never falls. Nominal dollars, spending at year end, no inflation.
- All figures are as of 23 October 2026 and in Canadian dollars except US and UK examples, which use the same nominal amount for illustration without currency conversion.
Limitations
We could not confirm from an official lottery release where in Alberta the Oct. 20 ticket was sold or whether it has been claimed. The 4% return is an assumption, not a forecast, and real portfolios mix interest, dividends and capital gains that are taxed differently. Tax calculations use top marginal rates as a simplification, ignore alternative minimum tax, OAS clawback and US state taxes, and the US cash ratio changes with interest rates. Expected-value figures exclude pool prizes and split risk. This is general information, not financial, tax or legal advice; a winner should consult qualified professionals.
Spotted an error? See our corrections policy. Read how we work in our methodology and editorial standards.
Sources
- British Columbia Lottery Corporation (BCLC)The new Lotto Max is here$6 price, 4 selections from 1–52, $90M cap, Maxplus, jackpot odds 1 in 33,446,140
- BCLC Retailer HubNew LOTTO MAX launch preparation (April 2026)Odds for every prize tier
- Canada Revenue AgencyAmounts that are not reported or taxedLottery winnings not taxed; interest on invested winnings taxable
- Canada Revenue AgencyCanadian residents going down southUS lottery winnings not taxable in Canada; no credit for US tax withheld
- Western Canada Lottery CorporationFrequently Asked QuestionsPrizes tax-free in Canada, one-year claim, publicity and photo rules
- Ontario Lottery and Gaming Corporation (OLG)Winners FAQsOne-year claim period, retail limit, photo requirement, group claims
- Sun Life Global Investments2026 Quick Reference Tax Card2026 top combined marginal rates and thresholds by province
- Internal Revenue ServiceInstructions for Forms W-2G and 5754 (Rev. January 2026)24% gambling withholding, $5,000 threshold, 30% for foreign persons
- Internal Revenue ServiceIRS releases tax inflation adjustments for tax year 202637% top rate above $640,600 (single), $768,700 (joint)
- Powerball (Multi-State Lottery Association)Powerball draw result, Wed, Oct 21, 2026$639M estimated jackpot, $269.0M cash value
- UK Gambling CommissionWinnings from gambling for customersUK gambling winnings tax-free regardless of amount
- HM Treasury / GOV.UKBudget 2025: Annex A rates and allowances2026–27 savings additional rate 45%
- Daily HiveSomeone in Canada finally won the record-setting $90 million Lotto Max jackpotOct. 20 winning numbers, Alberta ticket, unclaimed as of report
- CP24$80M Lotto Max ticket sold in London, Ont. claimed by two friendsPrevious $80M win and winners’ plans
- WikipediaLotto MaxJackpot cap history and largest past jackpots (secondary summary)