LOTERY officials have warned customers that a life-changing pot of cash has gone unclaimed for almost a year.
Illinois officials said Lucky Day Lottery players should check their tickets to see if they won a six-figure prize.
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Winners have one year to redeem Lucky Day prizes, according to the agency website.
A winning Lucky Day ticket was purchased on June 26, 2023 and has not been claimed.
If the winner does not claim the prize by the same date this year, they will no longer be eligible to receive their winnings.
The winning ticket is worth $450,000 before taxes.
Kostner Korner in Skokie, Illinois, a small food market, sold the ticket.
Several other tickets remain unclaimed across the state, but players have more time to collect money.
A $100,000 prize will expire in September. Another ticket worth US$250,000 will be eliminated in October.
Meanwhile, the state said three other winners, including two worth more than $1 million, were announced last month.
INSIDE THE LUCKY DAY
Illinois sells Lucky Day tickets for $1 each.
Players must select five numbers between one and 45.
The agency allows players to select a single ticket or subscribe to the full five figures for an entire year.
However, the odds of players winning the full $250,000 jackpot are one in 1,221,759.
Lottery players struggling with gambling addiction can call the National Gambling Hotline at 1-800-522-4700 or visit the National Council on Problem Gambling website.
COLLECT THE WINNINGS
Illinois winners can get their winnings in four ways.
Taxes on $250,000 Lottery Winnings
Here’s how much a $250,000 lottery winner can expect to pay in taxes:
Lottery winners will have to give up a large portion of their winnings to the government.
First, some states retain the proceeds of earnings.
Illinois said it will take 4.95% of the winning ticket.
That would reduce ticket earnings to about $236,250.
The federal government will also impose a standard tax rate of 24% on initial income.
Both taxes combined would reduce the premium to $176,250.
The state also mentioned that lottery winnings can be treated as income and be subject to additional taxes at the end of the year.
Source: Bet on Illinois
Some winners have the option to return to the retailer where they made their purchase to claim small prizes.
Other winners may claim their prizes via electronic claim, by mail or by scheduling an appointment at a Claims Center.
Illinois has claims centers in Chicago, Des Plaines, Rockford, Fairview Heights and Springfield.
At Claim Centers, winners will be able to make direct deposits, request anonymity for prizes over $250,000, and redeem multiple winning tickets at once.
However, the agency said winners should speak to financial professionals before withdrawing their winnings.
“We strongly suggest that players contact a financial planner, tax attorney or preparer, the Internal Revenue Service and/or the Illinois Department of Revenue for more information,” the agency wrote.
This story originally appeared on The-sun.com read the full story
