Unclaimed Powerball Prize of $560,000: Check Your Tickets from Local Grocery Store!
According to The Sun, Lottery officials are actively searching for a recent six-figure Powerball prize winner who has yet to claim their winnings. The winning ticket was drawn on October 16, with numbers 4, 30, 39, 44, 60, and a red Powerball of 11.
A Smaller Win in California
Although no one won the jackpot, which has now climbed to $437 million for the upcoming drawing on October 19, a lucky California resident matched all five white balls and won a substantial $562,699. According to Fox 11, the winning ticket was purchased at Quality Market grocery store in Newcastle, located approximately 30 miles outside of Sacramento.
Double-Check Your Tickets
California Lottery officials are urging all players to double-check their tickets to see if they are the fortunate winner. The unnamed player must sign the back of their ticket as soon as they confirm their win. To claim the prize, they will need to visit a Lottery District Office in person during business hours and submit a claim form along with the winning ticket.
Claim Deadline Approaches
Winners have a limited time to come forward. They must claim their prize within 180 days of the drawing date; in this case, that deadline is April 14, 2025. If the winner does not claim their prize in time, the funds will be forfeited and re-distributed to California Public Schools.
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Options for Receiving the Prize
If the winner steps forward, they will face an important decision on how to receive their prize. There are two options available:
- Lump Sum Payment: Winners can opt for a one-time lump sum distribution, allowing them immediate access to the full amount. However, this option comes with significant tax implications. The federal government imposes a 24% tax on lottery winnings over $5,000. Since California does not tax lottery winnings, the $562,699 prize would result in a net payout of around $427,651 after federal taxes.
- Annuity Payments: Alternatively, winners can choose to receive their prize in annuity payments spread over several years. This option provides a steady income stream and acts as a safeguard against financial mismanagement. Even if the winner spends their cash from one year, they would continue to receive annual payments.
A Valuable Return on Investment
Regardless of the payment method, the $562,699 prize is a significant return on investment for the cost of a Powerball ticket. As officials continue to search for the elusive winner, players are reminded to check their tickets carefully.
