LUCKY PICK: Powerball warning to check numbers for unclaimed $560,000 prize up for grabs – and ticket was sold at a grocery store
According to The Sun, Lottery officials are on the lookout for a recent six-figure Powerball prize winner who has yet to come forward following the drawing on October 16. The winning numbers drawn that day were 4, 30, 39, 44, 60, with a red Powerball of 11.
A Close Call for Jackpot Hopefuls
While no one claimed the jackpot, which has now climbed to an impressive $437 million for the next drawing on October 19, a California resident did score a smaller victory worth $562,699, according to Fox 11. This prize indicates that the winner matched all five white balls but missed the red Powerball.
California Lottery officials are urging players to double-check their tickets to see if they are the lucky winner. The winning ticket was purchased at Quality Market grocery store in Newcastle, located about 30 miles from Sacramento.
Claiming the Prize
The unidentified winner must sign the back of their ticket as soon as they confirm their win. After that, they will need to visit a Lottery District Office in person during business hours to file a claim form and collect their prize.
It’s important to note that if the winner does not come forward within 180 days from the drawing date—by April 14, 2025—the funds will be forfeited and re-distributed to California public schools.
Prize Payment Options
If the winner claims their prize in time, they will face a crucial decision regarding how to receive their winnings. There are two options available:
- Lump Sum Payment: This allows the winner to receive the entire amount upfront. This option offers the freedom to invest the money immediately, ideally with the help of a financial advisor. However, winners must be aware that opting for a lump sum involves significant tax deductions.
- Annuity Payments: This option provides a consistent annual income spread over several years, acting as a safeguard against potential financial mistakes. Even if the winner spends their cash in one year, they will still receive the same amount in subsequent years.
Understanding Tax Implications
Winners who choose the lump sum must account for taxes, as the federal government imposes a 24% tax on lottery winnings over $5,000. Fortunately for California residents, the state does not tax lottery winnings.
This means the $562,699 Powerball winner from October 16 would take home approximately $427,651 after a tax deduction of $135,047. While this is still a substantial amount, it’s worth noting how tax deductions can impact the final take-home total.
