I Had to ‘Scan My Ticket Seven Times’ But Won the $40,000 Mega Millions Prize – Then I Lost Almost $10,000 Immediately

An Illinois resident is $40,000 richer after winning big in the Mega Millions lottery.

Lucky lottery winner Jessica is from Cicero, which is just 15 minutes from Chicago.

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His victory came in the May 17 draw. The winning numbers were 8, 17, 40, 60, 70 and the Mega Ball was 3.

She said the first thing she will do with the money is buy as many tacos as she can.

Jessica found out she won when she was home and was in shock.

“I couldn’t believe I won! I scanned the ticket seven times to be sure,” she said.

However, Illinois charges a 4.5% state tax on lottery winnings over $1,000.

Additionally, there is a 24% federal tax on all lottery winnings.

With these penalties, she lost about US$10,000 of her prize.

Aaron, also an Illinois resident, also won the lottery, taking home a whopping $100,000.

The St. Charles resident lives about 45 miles west of Chicago and found out he won via email.

Aaron told lottery officials that he was about to leave the house and go to work when he decided to check his email.

Incredibly, there was a message stating that your Powerball ticket was a winner.

He was ecstatic and said he would use the money to treat his family to a steak dinner and a magical trip to Disney World.

But, like Jessica, he ended up handing over about $28,000 due to taxes.

IN DISPUTE

It may be hard to imagine, but every year millions of dollars in lottery prizes go unclaimed.

A winning Mega Millions ticket from the December 12th drawing worth $40,000 expires on June 9th.

The player purchased the ticket in Stanley, North Dakota, at a Pinnacle Express convenience store.

Lottery winnings: lump sum or annual fee?

Players who win big on lottery tickets typically have a choice to make: lump sum or annual fee?

Both payment methods can affect how much money you receive from your prize.

Annuities are paid slowly in increments, usually over 30 years.

Lump sums are paid all at once, but in smaller amounts since taxes are withheld all at once. This means 24% of your prize goes to Uncle Sam immediately. Many states also tax earnings.

Annuities can give winners time to create the financial infrastructure necessary to receive a life-changing amount of money, but lump sums have the advantage of being taxed only once.

It’s also worth considering inflation when making a choice, as payments don’t adjust to the value of a dollar. This means you will likely receive less valuable money at the end of an annuity.

Each state and game pays 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 differing opinions on the possibility of get the lump sum or take the annual fee.

Another Mega Millions prize worth $1 million also went unclaimed.

Rhode Island Lottery officials asked players to check their tickets from the Feb. 2 drawing.

The winning ticket was purchased at a Stop & Shop in Bristol and the winning numbers were 11, 22, 42, 64, 69 and 18.

Fortunately, the winner has a full year to claim the prize.

Playing the lottery is fun, but it is a form of gambling with inherent risks.

If you or someone you know is struggling with gambling addiction, call the National Gambling Helpline at 1-800-522-4700 or visit the National Council on Problem Gambling online.

A lottery player left his winning $4 million ticket in a drawer for months before realizing he had won.

And see the strategy used by a lottery player who won twice.