Friday, May 31, 2024
HomeFinancialA $1 million Powerball ticket expires quickly. Many prizes go unclaimed

A $1 million Powerball ticket expires quickly. Many prizes go unclaimed


Justin Sullivan | Getty Pictures

Powerball gamers might need to be sure that they’re wanting extra carefully at their numbers after every drawing.

In about two weeks — on Could 5 — a ticket bought in Michigan a yr earlier and price $1 million will expire. And simply final month in Maryland, nobody got here ahead by the deadline to say a $10 million Powerball prize. 

“You have to test your ticket for all prize ranges,” stated Carole Gentry, spokesperson for Maryland Lottery and Gaming. “Simply because you have not received the jackpot doesn’t suggest you did not win one other prize.”

Extra from Private Finance:
1 in 5 workers runs out of money before payday, survey finds
Pooling money makes couples more likely to stay together
Heading to a new job? Don’t forget about your 401(k) plan

Powerball’s prime prize for Wednesday evening’s drawing is $370 million — making the unclaimed lower-tier prizes pale compared. But some jackpots even have gone unclaimed by their winners through the years in each Powerball and Mega Tens of millions. 

They vary from a ticket bought in Florida in 2013 that was value $16.5 million (representing one-third of a $50 million jackpot cut up 3 ways) to a $77.1 million prize in 2011, with the profitable ticket bought in Georgia.

And past the highest prizes, there are lesser quantities that can also find yourself unclaimed, whether or not resulting from lack of a ticket, forgetting to evaluation the profitable numbers or different mishaps.

On prime of the multi-state video games, there are state-specific lotteries with prizes that by no means make it within the palms of winners.

As an illustration, in California in 2016, nobody got here ahead with a profitable ticket for a single lottery prize value $63 million.

Every state that participates in Powerball and Mega Tens of millions has its personal guidelines for a way lengthy winners get to say their prizes. Some enable three or six months, whereas others present a full yr from the date of the drawing.

So what occurs to these unclaimed winnings? Typically talking, the cash goes again to the states promoting the tickets.

And from there, it relies on the state’s guidelines. In some jurisdictions, the funds should return to gamers within the type of bonus prizes or second-chance contests. Elsewhere, the unclaimed quantities additionally might go towards particular functions comparable to training funding.

The prospect of profitable Mega Tens of millions is 1 in about 302 million. For Powerball, it is 1 in 292 million.



Source link

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Recent Comments