I thought I won $100 on a lotto ticket – four small numbers meant my jackpot was worth 500 times more | XY04MJ2 | 2024-04-27 17:08:01
I thought I won $100 on a lotto ticket – four small numbers meant my jackpot was worth 500 times more | XY04MJ2 | 2024-04-27 17:08:01
A LUCKY gambler who thought she had won a small prize was left stunned when she realized the actual amount was much bigger.
The player, of Missouri, tested her luck on the Powerball and came up trumps in the draw on April 6.
She thought she had pocketed $100, but she actually matched four numbers as well as the Powerball, per the Missouri Lottery.
The winner ended up scooping a prize 500 times more than what she initially thought.
"It was shocking," she admitted.
"I guess it is a little bit life-changing."
She was just one number away from taking home the top prize — a staggering $1.33 billion.
The odds of winning $50,000 on the Powerball are around 1 in 913,000, according to the lottery.
Ticket holders must defy odds of more than 1 in 292.2 million if they want to take home the grand prize.
The current Powerball jackpot stands at $149 million and the next draw takes place on Saturday evening.
It has an estimated cash prize of $68.8 million.
There were no Powerball players who matched five numbers on Wednesday night.
Players in 45 states, Washington DC, Puerto Rico, and the US Virgin Islands can play Powerball.
<!-- End of Brightcove Player --> And the game costs just $2 to play.
Jackpot winners often face the conundrum of how to receive their prize if they land the bumper amount.
They can either receive their prize as one sum or in installments over 29 years.
Experts have recommended the route winners should go down.
Edwin Castro, who scooped a $2 billion Powerball jackpot in November 2022, opted to receive his prize as a lump sum.
<p class="article__content--intro"> Millions dream of winning the lottery and finding fame and fortune. These are the biggest winners in US lottery history. </p> </div> </div> The prize was cut to $997.6 million before taxes.
But lotto winners don't just have to pay federal taxes on their prize, they may have to pay a state tax.
The IRS taxes winners at 24%, and state jurisdictions may also take a proportion of the winnings.
In New York, winners are hit with a tax rate of 10.9%.
But gamblers in California and Florida are not subject to a state lottery tax.
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