Man claims $500k lottery prize after playing since game for 10 years – but missing number kept him from ‘getting it all’
A Kentucky guy eventually won the lottery prize after participating in a well-known lottery game.
Since the launch of the lottery Lucky For Life game in March 2015, Billy Glenn of Lexington has been a participant.
Glenn told lottery authorities, “I’ve been playing for nine years, seven months, and 29 days since the day I won Lucky For Life.”
Glenn matched the five white ball numbers in the drawing on November 19 and bought the winning ticket at Southland BP.
He won the second prize in the game, which is $25,000 per year for the rest of his life.
Glenn discovered the first five numbers matched while looking at the other set, but he didn’t have the Lucky Ball number 13 on that line.
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Glenn remarked, “I was that close to getting it all.”
The second reward, which is $25,000 annually for life, has a minimum payout of $500,000 after 20 years.
Glenn opted for the $390,000 cash option award.
Nevertheless, the total earnings after taxes amount $280,804.32.
WHAT IS LUCKY FOR LIFE?
In Kentucky, there is a lottery draw game called Lucky For Life where players can win $1,000 every day for the rest of their lives.
With daily drawings at 10:35 p.m. ET or 9:35 p.m. CT, each play costs $2.
I went to the store to return carton of orange juice and came back with $315 million – I thought it was a mistake
To play, select one Lucky Ball from 1 to 18 and five white balls from 1 to 48.
Additionally, players can choose Quick Pick, in which the numbers are chosen at random by the computer.
GET YOUR MONEY
The following working day following the drawing is when prizes can be claimed.
All prizes, though, have to be claimed within 180 days following the date of the drawing.
Please be aware that a play slip is not proof of a winning ticket or the numbers chosen.
Lottery winnings: lump sum or annuity?
When lottery players win large sums of money, they usually have to decide between an annuity and a lump payment.
The amount of money you receive from your reward may vary depending on the two payout options.
Annuities typically pay out over a 30-year period in gradual increments.
Because taxes are withheld all at once, lump sum payments are made all at once but in smaller amounts. In other words, Uncle Sam immediately receives 24 percent of your award. Winnings are also taxed in many states.
While lump amounts have the advantage of just being taxed once, annuities can provide winners time to build up the financial infrastructure needed to receive a life-altering quantity of money.
When choosing, it’s also important to take inflation into account because distributions don’t change in value with the dollar. This implies that when an annuity comes to a conclusion, you will probably receive less valuable money.
It’s best to confirm payment terms with your state lottery as each state and game has distinct prize payout policies. You can evaluate the advantages and disadvantages of each choice with the assistance of a financial expert.
There are differing views among experts over whether to take an annuity or a lump sum.
To claim a prize, players need to show a valid ticket.
A direct deposit of up to $600 will be made into the online account of the winner.
Winners of prizes over $600 will get an email with details on how to submit claims and get their money.
Remember that playing the lottery carries some inherent risks, so you should only purchase a ticket if you can afford it.
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Recently, a 46-year-old Michigan lottery winner believed they had won $2 million, but they were soon compelled to give up $700,000.
Additionally, another fortunate winner in Missouri has not yet been announced.
Do not forget to gamble sensibly.An individual who gambles responsibly is one who:
- Establishes time and monetary limits before playing
- Only gambles with money they can afford to lose
- Never chase their losses
- Doesn t gamble if they re upset, angry, or depressed
Visit the National Council on Problem Gambling online or give the National Gambling Helpline a call at 1-800-522-4700 if you or someone you know is battling with a gambling addiction.
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