AN ANONYMOUS winner took home a whopping $2 million in a $30 scratch card after winning another prize.
The Maryland resident is an avid lottery player who often buys cheaper, instant-win tickets.
But she was on a “winning streak” and feeling lucky after winning $100 on a $5 scratch-off.
The player, who chose to remain anonymous, picked up a $30 Mega Money scratch card and immediately realized she had won.
She started scratching the ticket while she was on break from work and noticed that the first two lines were full of $50,000 prizes.
She was so excited that she decided to save it and finish it at home so as not to attract attention.
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“I had to take it home and scratch it later.”
Each of the 40 numbers on the card revealed a prize of US$50,000, for a total value of US$2 million.
“There were a lot of prizes worth US$50,000 and I knew I won US$2 million,” said the winner. lottery employees.
“I was shaken and crying.”
She plans to put her new fortune in the bank and put a down payment on a new house.
However, Maryland charges an 8.75% tax on lottery prizes. When added to the 24% federal tax, the winner lost nearly $480,000 of her prize money to taxes.
UNCLAIMED MONEY
It can be difficult to imagine winning the lottery and not claiming your prize right away.
But this is the case for thousands of lottery winners. Every year, millions of winners let their prizes expire before they receive their money.
In Texas, lottery officials are searching for the winner of a whopping $3 million prize.
The prize comes from the Mega Millions draw on May 24th.
The winning ticket was purchased at Polar Express #3 on Blalock Road in Houston.
Lottery winnings: lump sum or annual fee?
Players who win big on lottery tickets often 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.
All the numbers matched, except for the Mega Ball, which would have won them the jackpot of US$453 million.
However, they used the Megaplier bonus, which increased their prize from $1 million to $3 million.
A lottery winner in North Carolina lost a quarter of his “life-changing” prize money due to a major choice.
Another winner said it was “crazy” that she won $120,000 after changing her number-picking strategy.
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
