LOTTERY officials in one state are still searching for a lucky winner after they landed a $1 million jackpot.
Time is slowly running out for the unidentified Mega Millions player to come forward and claim their life-changing money.
Per the Missouri (MO) Lottery, they purchased the ticket ahead of Thanksgiving for the November 15, 2024, drawing.
Results for that specific drawing showed 05, 17, 35, 55, 69, and a gold Mega Ball of 19.
To win the $1 million payout, the unknown player must match all five white balls, narrowly missing the Mega Ball and a multi-million-dollar payday.
Officials confirmed the winning ticket was bought at a QuikTrip gas station and convenience store in Kansas City.
Those who bought slips for the November 15, 2024, drawing around that time at a QuikTrip in Kansas City should double-check their numbers before it’s too late.
MO Lottery rules allow players a window of 180 days to come forward and claim prize money.
That means the ticket will expire on May 14, 2025, leaving players only a few months before the $1 million is forfeited and re-distributed.
Lottery prize money unclaimed after the deadline in Missouri is always used to benefit the state’s public education system instead.
CLAIMING PROCESS
Assuming the player comes forward by the deadline and is merely squaring away some decisions with a financial advisor, they must be sure to sign the back of the ticket first and foremost.
After that, given that the win is above $600, they must claim the prize in-person at a MO Lottery claim center.
While there, the player will be faced with a crucial decision of getting the $1 million all at once and upfront through a lump sum distribution, or split through annuity payments over several years.
Lottery experts and lawyers have debated which option is best for most players for years.
A lawyer previously told The U.S. Sun that the annuity payments are best, as they guarantee the winner consistent money should they make a poor financial decision one year, they still have more coming in.
Another lottery expert recently agreed that while annuity payments do effectively “guarantee wealth,” with the right financial planning, the lump sum has the potential for higher returns.
Lottery winnings: lump sum or annuity?
Players who win big on lottery tickets typically have a choice to make: lump sum or annuity?
The two payout methods can impact how much money you get from your prize.
Annuities pay out slowly in increments, often over 30 years.
Lump sums pay all at once but in a smaller amount, as taxes are withheld in one go. That means 24% of your prize goes to Uncle Sam right away. Many states tax winnings as well.
Annuities can provide winners time to set up the financial infrastructure required to take in a life-changing amount of money, but lump sums have the benefit of being taxed only once.
Inflation is also worth considering when making a choice, as payouts do not adjust with the value of a dollar. That means that you’ll likely be getting less valuable money towards the end of an annuity.
Each state and game pays out prizes differently, so it’s best to check with your state’s lottery to confirm payment policies. A financial advisor can also help you weigh the pros and cons of each option.
Experts have varying opinions on whether to take the lump sum or take the annuity.
GONE IN A FLASH
Many players still elect the lump sum for that reason, and assuming the Mega Millions winner does, they’ll lose out on thousands instantly to taxes.
The federal government imposes a 24% tax on all lottery wins over $5,000, with states left to determine their rates — Missouri’s is 4%.
Given that, $280,000, will be deducted from the pot before the player sees any cash.
They’ll really only walk away with $720,000.
That’s still a significant return on their investment for the ticket.
Other Mega Millions tickets remain unclaimed nationwide.
The $1.27 billion Mega Millions jackpot winner has yet to come forward to claim their win despite it being confirmed that the ticket was recently purchased in California
A lucky player also recently turned $30 into $600,000 with a 7-Eleven lottery purchase.
