LOTTO chiefs have issued a three-step warning as two Powerball prizes worth more than $1 million have gone unclaimed.
The two lucky slips were sold in the same state.
Lotto chiefs have issued a three-step warning as two Powerball prizes worth more than $1 million have gone unclaimed[/caption]
The Kentucky Lottery said a whopping $1 million winning ticket was sold.
The lucky ticked was purchased at an Owensboro Kroger on Starlite Drive.
The Powerball numbers were 33 – 35 – 58 – 61 – 69, Powerball 25.
It matched every number except the Powerball.
And another winning ticket worth an eye-watering $50,000 was sold in Louisville at Cox’s Smokers Outlet on Westport Road.
The lucky ticket matched four of the white balls.
Kentucky Lottery has issued a three-step warning to the winners.
The first is to sign the back of their tickets immediately.
Secondly, keep tickets in a secure location.
And lastly, claim the prize within 180 days of the drawing.
Lucky winners have to claim their prize at the lottery headquarters at 1011 W. Main Street in Louisville.
They’re also told to contact the Kentucky Lottery at 1-877-789-4532 to make an appointment to claim their amazing prize.
WINNER WINNER
The US Sun recently covered another major lottery win that is yet to find a home.
Another Powerball player, this time in Illinois, picked up the $1 million jackpot, but is yet to show themselves.
The ticket was bought at a Jewel-Osco location in the suburban area of Melrose Park, Illinois, as reported by NBC Chicago.
This slip was bought on December 21 , 2024.
Much like the West Virginia winner, this leaves plenty of time for a winner to be found, but the quicker the better.
In the Mega Millions, a $1 million ticket purchased Tony’s Fresh Market, located in the 4600 block of West Belmont Illinois.
And even more amazingly, a $1.1 million slip was sold a Miska’s Liquor store, Illinois, too.
It was bought on September 8, 2024.
When and if these players come forward, they have the choice to receive their cash in one lump sum or in instalments.
This will effect how much tax they pay, as The US Sun reports that any money won from gambling must be submitted on a tax return.
This includes money that you won and loss while trying to earn your fortune on the slots.
It also includes prizes, like on a game show for example, and noncash ones like if you win a gift card.
Lottery winnings: 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.
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.
