TIME is running out for a lucky lottery winner who scooped a massive multi-million dollar windfall.
A Lotto player won a massive $6.3 million jackpot earlier this week but has not yet claimed their prize.
GettyDollar banknotes, $100 dollar bills, money background (stock)[/caption] GettyThe lottery ticket was won at a gas station in St Louis (stock)[/caption]The win was made in the draw on March 19 and they beat the odds of one in 3.5 million to take home the top prize.
But the moment the winning numbers were drawn, the countdown began on when the prize would expire.
Under state law, the winner from St Louis, Missouri, has 180 days from the day of the draw to claim their prize.
This means the unknown winner has until September 15 to come forward.
If they fail to do so, they will lose the cash for good.
Lottery officials state: “Any prize money that is unclaimed 180 days after the draw date of a ticket’s last winning play will go to benefit Missouri public education.”
After making the staggering win on a $1 ticket, the return is too much to risk losing.
So, here are the details you need to know to see if you are the winner.
The ticket was purchased at the Rocket gas station located at 463 Hawk Ridge Trail, Lake St Louis.
And the numbers were: 05, 08, 30, 32, 39, 40.
If you win a jackpot, officials say players must sign the back of their physical ticket if they have one, keep it secure, and keep news of their win to themselves.
The winner must then schedule an appointment with the Missouri Lottery Office and there they will decide to claim their money in annual payments of 24 years or in a lump sum.
Both options will be subject to state and federal tax with the lump sum being approximately half of the advertised prize amount.
Those who want to choose the cash option have just 60 days from the draw date to do so.
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 miss this deadline, they will be stuck with the annual payments.
Meanwhile, a Powerball player has just days left to claim their $100,000 win.
Officials have issued a frantic three-step warning in a desperate bid to help the winner claim their cash.
The lucky player scooped the win in a draw on March 23, 2024 and must claim the cash today.
All Powerball players in Illinois are urged to check old pockets and hidden safe places for the ticket as well as any digital versions.
The winning numbers were: 06, 23, 25, 34, 51 and Powerball 03.
Meanwhile, Rosemary Casarotti has been unmasked as the $1.2 billion Mega Millions jackpot winner but she immediately lost half her cash.
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