Powerball player sitting on $150k ticket – the slip was sold at a bar

POWERBALL players have been urged to double check their tickets as a slip now worth $150,000 hasn’t yet been cashed in. 

But, the lottery prize could’ve been so much more as the mystery gambler was just one number away from landing the jackpot.

They shattered odds of around one in 913,000 by matching four numbers and the Powerball. 

The player spent just $3 to achieve the feat, as reported by the Tri State Alert.

They forked out $2 on one line for the Powerball draw, buying the ticket from a bar and grill restaurant. 

But, the player decided to spend one extra dollar on the Power Play option.

This additional feature gives players the opportunity to multiply their non-jackpot prizes.

Lotto chiefs revealed the standard $50,000 prize for matching four numbers and the Powerball was trebled as the Power Play on March 29 was three.

The ticket was bought in Gettysburg, Pennsylvania – located around 140 miles from Philadelphia.

It’s not only the player who is set to benefit. The restaurant, the Blue and Gray Bar and Grill, is in line to pocket a $500 reward.

Winners in Pennsylvania have one year to come forward and claim their respective prizes.

The mystery player should sign the back of their ticket, officials have warned. 

But, when they come forward, they will face at least two deductions.

Winners who pocket more than $5,000 will have to pay 24% in tax to the federal government.

This means that almost $12,500 will be cut from the player’s prize pot. 

There will be deductions at the state level too. 

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.

In Pennsylvania, winners must pay 3.07% when it comes to state income tax. 

The rate is one of the lowest in the US. Winners in New York, for example, must pay 10.9% on their winnings. 

Those in New York City risk having to pay an additional 3.87%. 

Players in a select number of states enjoy a reprieve that not all gamblers can take advantage of.

Californians and Texans who test their luck on popular lottery games will not have to pay tax at the state level.

The rule also applies to winners in South Dakota, Tennessee, Washington and Wyoming.

MEGA MILLIONS CHANGES

Meanwhile, Mega Millions players will notice a number of differences ahead of Tuesday night’s draw.

The long-awaited price rise has since come into effect. 

Bosses first revealed plans to increase the price of a ticket to $5 in October and the change came into force on April 5.

The price hike from $2 to $5 has caused controversy, with some players expressing caution. 

“I probably will not buy very often anymore. $2 is okay. $5 is getting kind of steep, but maybe it only takes one,” gambler Fran Askins told the NBC affiliate KSBY-TV.

It’s not the only Mega Millions change, however.

Players will be boosted by the fact that their chances of winning have now improved.

Previously, the odds of winning the Mega Millions were one in more than 300 million.

Now, gamblers have a one in 290.4 million of hitting the top prize.

Prizes now range from the jackpot to $10.

This means that breakeven prizes have now been eliminated.

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