TWO unclaimed lottery tickets worth hundreds of thousands of dollars still have yet to be claimed.
The deadline to come forward and get the prize money gets closer by the day as officials continue the search for the winners.
GettyTwo lottery winners are running out of time to claim the same prize (stock image)[/caption] The lucky players landed a combined $806,000 earlier this month (stock image)Getty Images - GettyWhile playing the Fantasy 5 game in Georgia earlier this month, not one but two players happened to land the jackpot for the same drawing, per the Georgia Lottery website.
Each had a ticket matching all five numbers 09, 10, 12, 27, and 28.
Georgia Lottery officials confirmed that one ticket was bought in person at a Citgo Quik Market in Alpharetta, about 30 miles north of Atlanta.
The other was purchased online through the Georgia Lottery mobile application.
To have a single player win the Fantasy 5 jackpot is already unlikely, with odds of one in 850,668.
With both winning the jackpot on the same night, it was staggering.
Each could walk away with a $403,000 jackpot, a combined $806,000 total.
Of course, that’s contingent on them coming forward before time runs out to claim the win.
ACT FAST
Georgia is one of several states that only offers players 180 days to claim wins.
Others offer up to one year.
Still, that means the deadline for both Fantasy 5 jackpot winners to claim their prizes is July 18, 2025.
It would be July 19, but that date falls on a Saturday this year.
Given that the prize amount for each player is well over $601, they must either sign and submit the ticket and a claim form by mail or head in person to a Georgia Lottery District Office.
If heading to an office, players must schedule a claim appointment.
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.
Should neither player come forward by July 18, the $806,000 will be re-distributed to the state’s education fund for the HOPE and Pre-K programs.
MONEY MOVES
Assuming they do, the Georgia winners will instantly lose out on thousands depending on how they choose to receive the funds.
They can either have the cash split up through several years of annuity payments or take a lump sum all at once.
Most players choose the lump sum — despite controversy among experts — which has significant tax implications.
The federal government imposes a 24% tax on lottery winnings above $5,000 and states choose their rates.
Georgia’s is 5.75%, meaning about $119,892 would be taken out of each winner’s total.
They’d really only walk away with around $283,000, or $566,000 combined.
A lottery expert recently told The U.S. Sun in an exclusive interview that there are several reasons why it would take so long for winners to come forward.
Another recently won prize in Texas worth $1 million is also still unclaimed.
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