Anonymous Mega Millions player is stuck with an unclaimed 7.5 million ticket – the money will be gone in a few days
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Anonymous Mega Millions player is stuck with an unclaimed $197.5 million ticket – the money will be gone in a few days

Posted on by Amelia Pressman

MEGA Millions players have been urged to check their numbers as a prize worth a whopping $197.5 million still remains unclaimed.

The ticket was purchased in California in advance of a December 8, 2023 drawing.

A Mega Millions prize worth $197.5 million remains unclaimed

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A Mega Millions prize worth $197.5 million remains unclaimedPhoto credit: Getty

The note was purchased at a Chevron gas station in Encino — about 20 miles from Los Angeles — USA Today reported.

Players in California have up to a year before they can claim their jackpot, but the deadline is fast approaching.

If the ticket holder does not step forward, the money disappears.

The player, who has not yet been named, has until December 7th to come forward, meaning the clock is ticking.

Two winners hit the jackpot, which at the time was $395 million.

One player stepped forward and claimed his share of the pot, but the second prize went unclaimed.

“We have no way of knowing who has the second jackpot hole on this incredible evening,” said Carolyn Becker of the California Lottery.

She revealed how the money would be spent if it went unclaimed.

“Although it is a shame for potential winners when a winning ticket expires, it is a helpful boost for California’s public schools.

“Any unclaimed prize money ultimately goes toward public education, so we can still feel good about it at the end of the day.”

The time period for claiming prizes depends on where the ticket was purchased.

Players in California can wait a full year before reporting, but in most states the deadline is 180 days.

In Florida, players have 60 days to report.

If the ticket holder of the $197.5 million prize steps forward, he will face federal taxes.

Lottery winnings: lump sum or pension?

Players who win big on lottery tickets usually have a choice: lump sum or pension?

The two withdrawal methods can affect how much money you receive from your prize.

Pensions are paid out slowly and gradually, often over a period of 30 years.

Lump sums are paid out all at once, but in a smaller amount because the taxes are withheld all at once. This means 24% of your prize immediately goes to Uncle Sam. Many states also tax profits.

Annuities can give winners time to build the financial infrastructure needed to borrow a life-changing amount of money. However, lump sum amounts have the advantage that they are only taxed once.

Inflation is also important to consider when choosing, as payouts do not adjust based on the value of a dollar. This means you’re likely to receive less valuable money toward the end of retirement.

Each state and each game pays prizes differently. Therefore, 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 different opinions about whether to use the lump sum or the pension.

Thanks to a 24% federal tax rate, they will lose some of their profits.

Her new wealth will also likely move her into the highest income tax bracket.

However, the lottery player gets a reprieve because California does not impose state-level taxes on lottery winners.

The $197.5 million sum isn’t the only big lottery prize that remains unclaimed.

A Powerball prize worth $138 million is still up for grabs.

The winning ticket was purchased at a Walmart store in Ohio and the ticket holder only has until December 30th.

Top lottery winners in the USA

Millions dream of winning the lottery and achieving fame and fortune. These are the biggest winners in US lottery history.

  • Edwin Castro – $2.04 billion, Powerball, November 8, 2022, in California.
  • Theodorus Struyck – $1.765 billion, Powerball, October 11, 2023, in California.
  • Unknown winner – $1.602 billion, Mega Millions, August 8, 2023, in Florida.
  • Marvin and Mae Acosta of Los Angeles, California, John and Lisa Robinson of Munford, Tennessee, and Maureen Smith and David Kaltschmidt of Melbourne Beach, Florida – $1.586 billion, Powerball, January 13, 2016.
  • Unknown Winner – $1.537 Billion, Mega Millions, October 23, 2018, from South Carolina.
  • Unknown winner – he sued the mother of his child to keep his identity secret – $1.348 billion, Mega Millions, January 13, 2023, from Maine.
  • Unknown winner – $1.337 billion, Mega Millions, July 29, 2022, from Illinois.
  • Cheng and Duanpen Saephan and Laiza Liem Chao – $1.326 billion, Powerball, April 7, 2024, from Oregon.
  • Yanira Alvarez – $1.08 billion Powerball, July 19, 2023 in California.
  • Wolverine FLL Lottery Club – $1.05 billion, Mega Millions, January 22, 2021, from Michigan.
  • Unknown winner – $842.4 million Powerball, January 1, 2024, from Michigan.

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