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All About Lottery Prizes

What was the biggest prize in history?

On February 18, 2006 a group of eight Nebraska coworkers won the largest jackpot ever. The group elected to receive a lump sum payment of $177.3 million (or $22.2 million each) in lieu of an annuity that would have paid out $365 million over a 30 year period. The winning Powerball ticket was purchased in Lincoln, Nebraska.

What will happen if I win a big prize?

Winners of large prizes must bring the winning ticket to lottery headquarters — the amount at which you must show up in person varies from jurisdiction to jurisdiction. The ticket will be examined by lottery security staff for authentication. The lottery usually gives some advice on seeking financial and legal advice along with some practical advice like getting an unlisted phone number. All but a very few states and provinces have laws that require the lottery to make public the name and city of every winner (to assure the public that there are real winners). The lottery will ask the winner to participate in a press conference. Most take that option. It really is a good idea to get it over with since the press is likely to pursue your story until they get some questions answered. After a few weeks the excitement usually dies down and you can go about your life.

Can winners remain anonymous?

Usually no. State and provincial lawmakers want the public to know that the lottery is honestly run and so require that at a minimum the name of the winner and their city of residence be made public. This way the public can be reassured that the prize really was paid out to a real person.

What if the holder of an annuity lottery prize dies before collecting it all?

In this case the prize is considered to be part of the estate and is passed along to the winner’s heirs. Contrary to popular belief, the prize does not revert to the government. The only exceptions are “win for life” games where a prize is guaranteed for the rest of the winner’s life. In this case the payments stop with the winner’s death.

How long do I have to claim my prize?

The time to claim a prize varies from place to place, but typically is between six months and one year. However, sometimes prizes must be claimed within 30 days of winning, so be sure to know what time frame is applicable to your game and state.

What happens to prizes that aren’t claimed?

The disposition of unclaimed prizes varies from lottery to lottery and is governed by the laws of that state or province. In some cases all unclaimed prizes reenter the prize pool and increase the payout on future games. In other cases the money goes to the government to benefit the causes the lottery supports.

This information was found at www.naspl.org (North American Association of State and Provincial Lotteries)

Buying Lottery Tickets

If you wish to play your own state lottery or any other lotteries simply log onto Lucky Lotto. This site offers the player the opportunity to play most state lotteries from the comfort of their own home. Make sure to visit www.luckylotto.com for all of your custom lottery news and check out our new LuckyLotto lucky lottery number generator!