MEGA Millions players have been urged to check their numbers as a $1 million prize still remains up for grabs.
The winning slip was bought at a grocery store in Kansas City, Missouri, ahead of a draw that took place on Christmas Eve.
A Mega Millions ticket worth $1 million hasn’t been cashed in yetGettyOne player managed to match five numbers after buying the ticket from the Sunfresh outlet in the city.
The ticket holder has 180 days from the date of the draw to come forward.
Lotto officials have revealed the ticket expires on June 22, 2025.
If the prize remains unclaimed, then the money will be put toward the Missouri public education fund.
Mega Millions players have to defy the odds of one in around 12 million to match five balls and take home the $ 1 million prize.
The odds of winning any prize on the game of chance are one in 24.
But gamblers must defy the odds of one in around 302.6 million in order to take home the jackpot prize.
For months, the prize pot had been rolling over, reaching a whopping $1.22 billion in the process.
But the jackpot was won by a ticket holder in California on December 27.
Officials revealed that the ticket was sold at a Sunshine Food and Gas store in Cottonwood – located around 150 miles from Sacramento.
Store workers revealed that the outlet sold more than 1,000 tickets ahead of the draw.
The $1.22 billion sum was thought to be the fifth-highest jackpot in Mega Millions history.
The prize pot had an estimated cash value of $571.9 million.
But, the player, who hasn’t been named, will face a choice when it comes to claiming their prize.
They could either receive their prize as a lump sum or in installments, known as an annuity.
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.
If they take the lump sum, then millions of dollars will be wiped from the estimated $571.9 million pot.
The gambler will have to pay a total of 24% to the federal government in tax.
This is a requirement for lottery winners who take home more than $5,000.
But that is not the only tax they will have to pay.
The sheer size of the gambler’s victory could mean they’re pushed into the top income tax bracket.
However, the ticket holder will face a reprieve at the state level.
This is because, in California, they will not have to pay any taxes to the state.
This is a developing story…
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