LOTTERY officials gave players just a few weeks to claim a $50,000 prize.
A winning Powerball ticket was sold earlier this year, but the owner has yet to comment.
Lottery officials in Louisiana are asking players to check their tickets.
That’s because a $50,000 prize will expire within weeks.
The winning ticket for the draw held on January 20th was purchased at a Diaz Market convenience store in Mandeville.
However, five months later, the owner of the ticket has still not made himself known.
Now there are just a few weeks left until the prize expires.
Under Louisiana Lottery rules, players have 180 days from the draw date to claim their tickets.
This means the winner has until July 18th to present themselves.
Otherwise, the prize will expire forever.
The winning ticket matched four of the five drawn white ball numbers and the red Powerball number to win $50,000
The winning numbers in the draw were 16, 31, 34, 47, 65 and the Powerball was 10
“We look forward to the winner coming forward to claim this prize. In the meantime, the individual should treat the ticket as money,” said lottery president Rose Hudson.
“It’s also a good idea to sign the back of the ticket for security reasons.”
TAX TIMES
Whoever claims the $50,000 won’t get to keep it all.
The IRS deducts 24% of lottery winnings for federal taxes.
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.
Louisiana holds 4.25% state taxes on all lottery prizes of $5,000 or more.
The winner will also have to decide whether to receive a smaller prize upfront, as a lump sum, or a smaller amount over time in the form of annuity payments.
Responsible gaming
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
- National Problem Gaming Council –
- Game Aware – www.begambleaware.org
For help with a gambling problem, call the National Gambling Helpline at 1-800-522-4700 or go to ncpgambling.org/chat
Lottery officials are warning players to check their numbers for an unclaimed $200,000 Mega Millions prize.
Meanwhile, players are being asked to check their coat pockets for an unclaimed Powerball ticket worth $100,000.
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