POWERBALL players have been urged to check their numbers after one ticket worth $500,000 was sold.
Lotto bosses have issued an urgent appeal as no one has come forward to collect the winnings so far.
Powerball players in Kentucky are being advised to check their tickets[/caption]
The life-changing stub was nabbed in southeastern Kentucky as part of the Powerball Double Play drawing on October 12.
The winning numbers for this draw were 18, 22, 32, 41 and 49.
However, the lucky player did not match the red No. 24 Powerball, ultimately limiting the second-tier prize to $500,000.
Players have 180 days to redeem the ticket.
They are advised to sign the backs of their ticket, keep it in a secure location and claim their prize at the Kentucky Lottery’s headquarters in Louisville.
MEGA CHANGES
Recently Mega Millions has announced that a price of a ticket will more than double next year as a part of a overhaul.
Starting in April 2025, tickets will increase from $2 to $5, Mega Millions announced.
The increase will mark the second price adjustment since the lottery game launched in 2002, Mega Millions said.
Other changes to debut in the spring include no breakeven prizes.
Mega Millions said the overhauled game will result in jackpots that start larger, grow faster and are bigger more frequently, as well as better odds of winning the jackpot.
Joshua Johnston, lead director of the Mega Millions Consortium said: “We are creating a game that both our existing players and people new to Mega Millions will love and get excited about playing.
“We expect more billion-dollar jackpots than ever before, meaning creating more billionaires and many more millionaires as the jackpots climb, plus this game will continue the important legacy of supporting great causes everywhere Mega Millions is played.”
LUMP SUM OR ANNUITY?
Players who win big on lottery tickets typically have a choice to make: lump sum or annuity?
The two payout methods can impact how much money you get from your prize.
Annuities pay out slowly in increments, often over 30 years.
Lump sums pay all at once but in a smaller amount, as taxes are withheld in one go. That means 24% of your prize goes to Uncle Sam right away. Many states tax winnings as well.
Top lottery winners in the US
MILLIONS dream of winning the lottery and finding fame and fortune. These are the biggest winners in US lottery history.
- Edwin Castro – $2.04 billion, Powerball, Nov. 8, 2022, in California.
- Theodorus Struyck – $1.765 billion, Powerball, Oct. 11, 2023, in California.
- Unknown winner – $1.602 billion, Mega Millions, Aug. 8, 2023, in Florida.
- Marvin and Mae Acosta from Los Angeles, California, John and Lisa Robinson from Munford, Tennessee, and Maureen Smith and David Kaltschmidt from Melbourne Beach, Florida – $1.586 billion, Powerball, Jan. 13, 2016.
- Unknown winner – $1.537 billion, Mega Millions, Oct. 23, 2018, from South Carolina.
- Unknown winner – he sued the mother of his child to keep his identity hidden – $1.348 billion, Mega Millions, Jan. 13, 2023, from Maine.
- Unknown winner – $1.337 billion, Mega Millions, July 29, 2022, from Illinois.
- Cheng and Duanpen Saephan, and Laiza Liem Chao – $1.326 billion, Powerball, April 7, 2024, from Oregon.
- Yanira Alvarez – $1.08 billion Powerball, July 19, 2023 in California.
- Wolverine FLL Lottery Club – $1.05 billion, Mega Millions, Jan. 22, 2021, from Michigan.
- Unknown winner – $842.4 million Powerball, Jan. 1, 2024, from Michigan.
Annuities can provide winners time to set up the financial infrastructure required to take in a life-changing amount of money, but lump sums have the benefit of being taxed only once.
Inflation is also worth considering when making a choice, as payouts do not adjust with the value of a dollar.
That means that you’ll likely be getting less valuable money towards the end of an annuity.
Each state and game pays out prizes differently, so it’s best to check with your state’s lottery to confirm payment policies. A financial advisor can also help you weigh the pros and cons of each option.
Experts have varying opinions on whether to take the lump sum or take the annuity.
