A $1MILLION Mega Millions jackpot is set to expire soon as Lottery officials urge the lucky ticket-holder to get in touch.
Millions of prize money is up for grabs and one winner has been warned to cash before the approaching deadline.
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The Missouri Lottery released the highly anticipated Mega Millions on November 15 last year.
However, the deadline is creeping up and the winner only has until May 14 this year to cash in their $1million prize.
The lucky numbers 5, 17, 35, 55, 69, and the Mega Ball 19 are on the ticket of one fortunate player – but they’ll have to claim it in the next two weeks or risk losing it all.
For anyone who purchased their ticket from QuikTrip, 10150 N.E. Cookingham Road, Kansas City, you might want to have a look at your numbers.
Lottery bosses urge users to check if they’re the winner as 180 days after the draw the cash will be donated to charity.
The Missouri Lottery website states: “Empty your drawers and check your pockets! You could have a winning ticket waiting to be claimed. All Draw Games unclaimed prizes of $50,000 or more are listed below.
“Any prize money that is unclaimed 180 days after the draw date of a ticket’s last winning play will go to benefit Missouri public education.”
The website also offers a range of advice for those who have managed to score a winning ticket.
It suggests to firstly sign the back of your ticket and put it in a safe place.
As that one small ticket is the only way for you to claim your prize you certainly don’t want to lose it.
Then, Missouri Lottery recommends getting professional tax and legal advice to help you decide the best way for you to claim your prize.
This could include choosing between payment plans.
For a Mega Millions jackpot, you can choose to receive the full amount in 30 yearly payments for 29 years or you can receive approximately half the advertised prize amount in one lump payment.
If you want more money you could go for the first option, if you’d like more cash immediately it’s better to go for the latter.
You’ll have exactly 60 days from the claiming date to choose the cash option.
Missouri Lottery urges winners to take their time on important decisions – an example is not dramatically quitting their job or moving state.
Yesterday Mega Millions lottery officials revealed that someone in Illinois scooped the huge win on Tuesday’s draw.
The fortunate lottery player correctly picked out the winning numbers and the Mega Ball to scoop the top prize.
However, with no one coming forward to claim the huge win, lottery officials in Illinois have issued more information about the winning ticket.
The unknown multi-millionaire purchased the ticket at Casey’s General Store in Cortland, Illinois with the numbers 1, 5, 17, 39, 62 and Mega Ball 8.
They have also been urged to come forward before the money is given away.
Lottery winnings: lump sum or annuity?
Players who win big on lottery tickets typically have a choice to make: lump sum or annuity?
The two payout methods can impact how much money you get from your prize.
Annuities pay out slowly in increments, often over 30 years.
Lump sums pay all at once but in a smaller amount, as taxes are withheld in one go. That means 24% of your prize goes to Uncle Sam right away. Many states tax winnings as well.
Annuities can provide winners time to set up the financial infrastructure required to take in a life-changing amount of money, but lump sums have the benefit of being taxed only once.
Inflation is also worth considering when making a choice, as payouts do not adjust with the value of a dollar. That means that you’ll likely be getting less valuable money towards the end of an annuity.
Each state and game pays out 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 varying opinions on whether to take the lump sum or take the annuity.
