A TENNESSEE woman wasn’t too shocked to discover she had won the lottery with a scratch-off ticket.
She managed to take home a massive $1 million lottery prize – but lost a good chunk of it in the process.
Karen H. of Shelby County, home to Memphis, described her million-dollar win in last week’s Tennessee Lottery as a thrilling experience.
She added, however, that it was not entirely unexpected, because Tennessee Lottery.
“I always believed I would win,” said Karen, a project manager at a marketing company, explaining how she always knew she would win.
“I surround myself with good thoughts and wonderful things manifest in my life.”
Karen secured the seven-figure prize with a 100X instant ticket she played while visiting the Nashville area.
She bought the winning ticket at M&M Martin in Nashville.
Karen was among several Tennessee Lottery winners across the state who collectively received $21,851,709 from May 26 to June 1, 2024.
SMALL LOSS
Despite her big win, Karen also suffered some losses when it came to her earnings.
In Tennessee, lottery winnings are exempt from state taxes, so wise voter.
However, they should note that federal income tax may still apply to their earnings.
These federal income taxes still apply to lottery winnings in all states.
As mentioned previously, lottery winnings are considered ordinary income for federal tax purposes.
The federal tax rate can reach 37% for amounts above certain thresholds, depending on the taxpayer’s filing status and other income.
For Karen, she ended up having to pay around $240,000 for her prize.
INCREASE YOUR RISK ODDS
Scratch cards offer a fun opportunity to try and win some quick cash without a significant investment.
Just like the lottery, they depend entirely on luck.
However, some strategies can increase your chances of winning scratch cards, for example. Casino.org.
The wide variety of scratch cards available today can be overwhelming, especially for those unfamiliar with them.
With so many different designs, prices, prizes and brands, making a decision can be challenging.
To increase your chances of winning, it is important to stay focused when purchasing scratch cards.
While it may be tempting to opt for cheaper tickets and buy several, they have lower premiums for a reason.
A better strategy is to buy fewer scratch cards at higher prices. In the case of scratch cards, quality really does trump quantity.
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.
Some scratch card players advocate a strategy of purchasing their scratch cards in large quantities.
Casino.org advises purchasing about five cards from the same game in a single trip, rather than purchasing one card at a time and making multiple visits over time.
They argue that manufacturers often distribute winning cards evenly across their lots.
Therefore, by buying in bulk, players believe they increase their chances of getting a winning card compared to spreading the same number of purchases over multiple visits.
However, it’s important to only employ this approach if it aligns with your budget.
Meanwhile, a North Carolina man secured a $100,000 jackpot with just a $20 investment on a scratch-off ticket.
And an unidentified winner walked away with a whopping $2 million prize on a $30 scratch-off ticket, boosted by another win.
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
