Powerball ticket worth $2 million remains unclaimed and anonymous winner made single decision to get more cash
Even if they aren’t aware of it yet, one lucky lottery winner is sure to have a very happy Christmas.
The anonymous player’s $1 million prize was doubled when they won a whopping $2 million in the Powerball of December 21.
Even though no one was able to win the jackpot this time, he or she matched all five of the white balls in the draw.
The red Powerball was 1, and the winning white ball numbers were 1, 12, 17, 21, and 58.
The ticket was purchased in New Jersey, and the person who bought it also paid for Power Play, which increased their prize by 100%.
When five balls are matched using Power Play, the jackpot is automatically quadrupled to $2 million. This extra feature costs $1 every play.
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The multiplier for other non-jackpot prizes is chosen at random and can vary by 2, 3, 4, 5, or 10.
Now, the unidentified winner has a year from the December 21 draw date to receive their award.
In the same draw, a second winner—this time from Idaho—also took home $2 million.
Additionally, they doubled their money by choosing Power Play and accurately matching the five white balls.
On December 21, someone in Illinois matches all five white balls, making them $1 million richer.
The jackpot has increased to $103 million for the upcoming draw on December 23 because it was not won during Saturday’s draw.
The Powerball website states that this has a monetary value of $47 million.
CASHING IN
The winner will not be able to claim their prize at the location where they purchased their ticket due to the substantial sum of money involved.
To get the prize money, you will need to fill out a claim form.
These can be purchased at the Trenton, New Jersey, lottery headquarters, lottery shops, or the lottery’s website.
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. 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.
There are differing views among experts over whether to take an annuity or a lump sum.
Before scheduling a time to make their claim in person, the winner must sign the back of the ticket.
WHAT HAPPENS IF DEADLINE NOT MET?
If the winner doesn t come forward before the deadline, they forfeit their right to the prize.
In such cases a proportion of the prize money then goes to each state in which Powerball is played.
This is then used to fund public works and could find its way back into other lottery games.
Powerball draws take place on Monday, Wednesday and Saturday, with the Saturday evening draw attracting the most players.
Another lucky lottery customer in Missouri is sitting on $1 million and doesn t know it after purchasing a winning ticket in the Mega Millions draw six weeks ago.
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Meanwhile in Florida another Mega Millions winner is set to become $5 million richer when they claim their prize from the December 10 draw.
Responsible gambling
Remember to gamble responsiblyA responsible gambler is someone 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
-
National Council on Problem Gambling
-
Gamble Aware
www.begambleaware.org
For help with a gambling problem, call the National Gambling Helpline on1-800-522-4700or go toncpgambling.org/chat
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