Lottery player wins $500,000 jackpot after ‘logic’ led him to buy $2 ticket – but he immediately lost $160,000

A LUCKY lottery player won $500,000 after making a logical choice to buy a $2 ticket.

The new winner also explained how he wanted to use his money.

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A Baltimore man won the half-million jackpot on June 3, according to Maryland Lottery.

He played Multi-Match, the twice-weekly state jackpot game that costs $2 a ticket.

The winning quick-pick ticket was purchased at Royal Farms in Glen Burnie – about 13 miles south of Baltimore.

The lucky winner plans to put his money to good use.

“It goes into retirement savings,” he told the channel after claiming the prize.

“I’ll let it start working for me.”

Although most of his money goes into savings, he also has other plans for that.

The Baltimore man plans to donate money to charities that support ALS research, provide meals for the hungry, a children’s hospital and the Prevention of Cruelty to Animals.

He also set aside enough to travel and have a celebratory dinner.

DEDUCTION of $160,000

When a player wins, they can choose between two options to determine how they want to receive their money.

They could get it as a lump sum, subject to state and federal taxes, or annuity payments over 30 years.

The lottery winner chose a one-time payment, meaning his $500,000 winnings were deducted at both the federal, 24%, and state, 8.95%.

His decision to take home a lump sum cost him $164,750.

If he had chosen to receive his money over 30 years, he would have received $16,667 per year.

Top US Lottery Winners

Millions dream of winning the lottery and finding fame and fortune. These are the biggest winners in US lottery history.

• Edwin Castro – $2.04 billion, Powerball, November 8, 2022, in California.
• Theodorus Struyck – $1.765 billion, Powerball, October 11, 2023, California.
• Unknown Winner – $1.602 Billion, Mega Millions, August 8, 2023, Florida.
• Marvin and Mae Acosta of Los Angeles, California, John and Lisa Robinson of Munford, Tennessee, and Maureen Smith and David Kaltschmidt of Melbourne Beach, Florida – $1.586 billion, Powerball, January 13, 2016.
• Unknown Winner – $1.537 Billion, Mega Millions, October 23, 2018, from South Carolina.
• Winner unknown – he sued his child’s mother to keep his identity hidden – $1.348 billion, Mega Millions, January 13, 2023, from Maine.
• Unknown Winner – $1.337 Billion, Mega Millions, July 29, 2022, from Illinois.
• Cheng and Duanpen Saephan and Laiza Liem Chao – $1.326 billion, Powerball, April 7, 2024, from Oregon.
• Yanira Álvarez – $1.08 billion Powerball, July 19, 2023 in California.
• Wolverine FLL Lottery Club – $1.05 Billion, Mega Millions, January 22, 2021, from Michigan.
• Winner unknown – $842.4 million Powerball, January 1, 2024, from Michigan.

MULTI-GAME

The Maryland Multi-Match jackpot increases each time there is no winner who matches all six numbers drawn.

However, tickets are only sold in Maryland, so the prize is not that big, but the chances of winning are greater.

“You have a slightly higher percentage chance of winning,” said a fan of the game, according to the outlet.

Ticket for the game includes three sets of six numbers from 1 to 43.

If all six numbers drawn match all six numbers in a line on the ticket, the player is the jackpot winner.

The odds of getting all six in any row are still high, at 1 in about 6 million.

However, each ticket has three sets of six numbers, reducing the odds to 1 in about 2 million per ticket.