A POWERBALL player is sitting on a life-changing jackpot as a whopping $1 million prize still remains unclaimed.
The anonymous would-be millionaire bought the Powerball slip at a convenience store in December, but time is running out for them to claim their cash before the ticket expires.
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It was sold at Jewel Food Store in the Chicago suburb of Melrose Park in Illinois.
But Powerball rules stipulate that players only have one year to come forward to cash in.
According to the lottery website, the slip was bought on December 21, 2024.
And given how large the amount is, the winner is being encouraged to come forward as quickly as possible.
But this isn’t the only prize in the millions that still needs an owner.
In the Mega Millions, a ticket worth $344 million was drawn at a Casey’s General Store in Illinois on March 25, 2025.
And in another Mega Millions a ticket worth $1 million was drawn at a Tony’s Finer Foods in Chicago on February 25, 2025.
Billions in lottery winnings go unclaimed every year, but it might not be for the reason you think.
Lotto players may hear that the top prize for a given drawing has been won – then throw away their ticket that could be a winner on a secondary prize.
Those secondary prizes can be as high as $1 million in some cases.
Players who believe they are sitting on the fortunes must complete three crucial steps to claim their cash.
The player must first sign the back of the ticket
This is vital to ensure that the money is distributed to the person who bought the ticket and played the game.
Next the player must either make an appointment and head in person to get the cash through an Illinois Lottery claim center or mail the ticket in.
Assuming they complete the initial steps and connect with lottery officials, they’ll face the third and most crucial one — how they want to obtain their money.
This is always offered through a one-time lump sum distribution or annuity payments split over several years.
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.
The debate over which option is better has been going on for years.
But many players choose to elect the lump sum, so they can make money off the money.
You can head to the Illinois Lottery website to find out more information.
Remember to gamble responsibly
A responsible gambler is someone who:
- Establishes time and monetary limits before playing
- Only gambles with money they can afford to lose
- Never chase their losses
- Doesn’t gamble if they’re upset, angry, 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.
