MEGA Millions players have been warned to double-check their tickets as time is running out to claim a $40,000 prize.
The lottery prize was revealed months ago, but the ticket holder has yet to come forward and claim the money.
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North Dakota Lottery Officials confirmed the Mega Millions receipt was purchased at a Pinnacle Express gas station in Stanley, a city near the state’s northwest border with Canada.
It was for the December 12, 2023 draw, and matched four numbers and the Mega Ball to qualify for the $40,000 prize.
The result of the draw showed the numbers 8-23-44-45-53 and a Mega Ball of 3.
North Dakota Lottery winners have a period of 180 days from the time of the drawing to claim their money.
This means that the $40,000 will expire for the December 12, 2023 winner on June 9, 2024, just a few days from now.
If the player doesn’t show up on time, the money will be confiscated and kept by officials to be put into the state’s general fund to help residents through various programs, according to the North Dakota Lottery. website.
Given that the prize is more than US$600, the player must first validate the prize at a lottery outlet, such as the gas station where he purchased it.
They would then need to go to the North Dakota Lottery headquarters in Bismarck to get the $40,000.
The player also has a crucial decision to make about how they will receive the funds.
Choosing to receive all the money at once through a one-time distribution or opting for annuity payments can drastically affect your net worth.
Many lottery winners choose the lump sum but see heavy taxes and lose a lot of money from the pot instantly.
MISSING FUNDS
The federal government has imposed a tax on lottery winnings of 24%.
North Dakota too imposes a 2.9% state tax on the money.
This means the player would see about $10,516 going to the federal and state governments.
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 needed 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 take the fixed amount or take the annual fee.
The actual take-home amount would be about $29,484.
That’s still a significant return on investment for what the unnamed player paid for the ticket, if he shows up on time.
STILL OUT THERE
They also beat incredible odds.
Those who win the Mega Millions jackpot prize have a 1 in 302,575,350 chance.
Other Mega Millions tickets remain unclaimed in several states, with the clock ticking for winners to come forward.
A $1 million ticket from February in Rhode Island still has no identified winner.
Texas Lottery officials are also looking for a $3 million winner who has not yet come forward.
Remember to gamble responsibly
A responsible player is someone who:
- Set time and monetary limits before playing
- Only games with money they can lose
- Never chase your losses
- Don’t play if you are upset, irritated or depressed
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.
This story originally appeared on The-sun.com read the full story
