POWERBALL players have been urged to check their numbers as a $100,000 prize remains up for grabs.
And, the winning slip was bought ahead of a draw on January 4 at a store in Ohio.
GettyA Powerball prize worth $100,000 is up for grabs[/caption]It was purchased at a Country Foods Store in South Webster.
The ticket was sold just days after a prize worth $138 million went unclaimed and expired.
The player, who remains unknown, matched four numbers and landed the Power Play option, which meant the sum was worth $100,000.
Their prize doubled thanks to the extra dollar they spent on the Power play.
Usually, Powerball players that match four numbers take home $50,000 before tax.
Lottery players who land more than $5,000 must pay a tax of 24% to the federal government.
That is before state taxes are wiped from the prize.
In Ohio, the state taxes players at a rate of 3.5%.
The ticket holder has 180 days to come forward and claim their sum.
Powerball players must defy the odds of one in around 292.2 million in order to land the jackpot.
They have more chance of winning the Powerball jackpot than other games, such as the Mega Millions.
The odds of winning the Mega Millions stand at more than one in 300 million.
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.
This is a developing story…
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