Lottery player wins $1 million prize with $10 ticket that ‘caught her eye’ at Walmart – but $289,500 was taken from her

A LUCKY lottery player has won the top prize of $1 million on a scratch card.

The Illinois native will lose nearly 30% of earnings due to federal and state taxes.

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“I was at Walmart the other night when I saw the new Celebration Instant Tickets and they caught my eye, so I bought a $10 one,” explained the lucky winner.

“I didn’t think anything about it. In fact, I put it in my bag and forgot about it until the next morning.”

“I started scratching the ticket and saw that it had a corresponding number for one million dollars. I thought it was a mistake,” she added.

Like other gambling winnings, lottery prizes are taxable income.

Illinois winners receive a state tax rate of nearly 5% and a federal tax rate of 24%.

WINNER WINNER

The winning scratch-off ticket was purchased at Walmart, located at 1050 North Rohlwing Road in Addison, Illinois.

For selling the winning ticket, the store will receive a sales bonus of one percent of the prize value.

“I have five children, ten grandchildren and two great-grandchildren. My husband and I were married for forty-nine years until he passed away in October,” the winner shared.

“He was the breadwinner and took care of all of us. I truly believe this winning ticket is his blessing.”

The Illinois Lottery was founded in 1974 and has contributed more than $24 billion to support public education in Illinois for nearly 40 years, according to the website.

In 1974, Illinois became the first state to broadcast a cartoon live on television.

HOW TO CLAIM

The Illinois Lottery asks winners to sign the back of their tickets if purchased at retail.

Winners can redeem their prizes at retail, at a Claim Center, by mail or via an e-Claim.

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 get the lump sum or take the annual fee.

Winners must also ensure that they claim their prize on time:

• Mega Millions, Powerball, Lotto, Lucky Day Lotto, Pick 3, Pick 4 and Fast Play prizes must be claimed within one year of the drawing date.

• Mega Millions, Powerball and Lotto winners can choose a one-time payment or annual payments. To opt for cash payment, the prize must be claimed within 60 days from the date of the draw. Winners who claim after this period may only receive the annual fee payment.

• Instant Ticket prizes must be redeemed within one year of the game’s announced end date; you can check the end dates here.

Players who won $600 or less can only claim their prizes at an Illinois Lottery location. Most Illinois Lottery retailers will carry winning tickets of $600 or less.

Winners who wish to redeem their prizes at a Claims Center must simply make an appointment.

To make an appointment, winners must select a Claim Center location, date and time from the hours available that day at the Illinois Lottery website.

Winners must also bring a completed claim form and winner questionnaire, a valid photo ID, proof of Social Security and the signed winning ticket to their appointment.

To claim by mail, winners must place their ticket, claim form and winner questionnaire in an envelope addressed to the Illinois Lottery Claims Department at PO Box 19080, Springfield, Illinois 62794-9912.

Meanwhile, Delaware officials asked lottery players to double-check their tickets for unclaimed prizes worth more than $300,000.

And a father-son duo won a massive $1 million jackpot on a scratch-off ticket, but instantly lost half the winnings.