Lottery winner wins $150,000 prize in $10 scratch-off – but takes home just two-thirds of the money after tough decision

A LUCKY lottery player won a $150,000 prize on a $10 scratch card, but was only able to collect a share of the winnings after making a difficult decision.

O lottery the player secured the funds after purchasing a Lady Luck 50X scratch card at a Minit Mart in Rittman, Ohioabout 21 miles southwest of Akron.

two

two

The unidentified customer won $150,000 after playing the $10 game, according to a Ohio Lottery.

However, the winner will only receive $108,000 due to state and federal taxes totaling 28%.

According to the press release, Lady Luck 50X costs $10 and has a top prize of $500,000.

On June 10, 2024, three top prizes would remain up for grabs.

According to Lady Luck 50X Page on the Ohio Lottery website, the overall odds of winning the game are 1 in 3.66.

Players can win up to $500,000.

However, it appears this number is before taxes.

LADY LUCK OR LOSS?

Taxes will leave the Lady Luck winner $42,000 less than the original prize value.

US lottery winners are subject to federal taxes. Depending on the state, they are also sometimes subject to state taxes.

According to DinheiroFitthe federal government instantly withholds 24% of lottery jackpot winnings.

Winners may have to pay additional federal taxes based on their general tax brackets.

Each US state also has its own rules. Some charge income tax and tax part of the winner’s prize, while others do not charge overall income tax, but winners still have to pay federal taxes.

According to BetOhioOhio will withhold taxes of 4% for prizes over $600 in its lottery, and federal regulations will withhold taxes between 24% and 28%.

According to the establishment, fees change based on details and winners’ ultimate liability is based on their overall income.

Winners will also be able to pay more if they choose to receive their winnings as a lump sum rather than annuity payments.

CLAIMING THE MONEY

According to Ohio Lottery websitePrizes up to $599 can be claimed at any Ohio Lottery retailer.

Winnings of up to $25,000 can be claimed through the mobile withdrawal feature available on the Ohio Lottery mobile app, at one of seven Ohio Lottery Racinos, or via direct deposit at any Ohio Lottery regional office.

Prizes up to $5,000 can be redeemed at Super Retailer stores or a regional Ohio Lottery office as a prepaid debit card, according to the website.

Mega Millions, Powerball and Classic Lotto jackpot winners should contact their nearest Ohio Lottery regional office to schedule a time to submit their claim.

Ohio scratch-off tickets must be cashed within 180 days of the close of the game to be valid.