WINNING a big prize on the lottery must feel as if all your birthdays and Christmases have come at once.
Well for one Indiana woman that was pretty much the case.
Emily Hickox scooped $500,000 in the Michigan Lottery and she found out on Christmas Day – which is also her birthday!
She won top prize on the Detroit Lions Instant Win ticket, but it very nearly didn’t happen.
“My cousin purchased the ticket for the white elephant gift exchange at our family Christmas party,” explained Emily.
“My dad actually won the ticket in the gift exchange, and I won the gift he brought, a flashlight.
“He wanted his gift back, so we made an agreement after the game to trade gifts.”
Scratching off the ticket the accidental lottery winner thought she had won a less valuable prize.
“I downloaded the Michigan Lottery app and created an account to check the ticket on the app scanner,” said Emily.
“I was expecting to see $50,000, so when I saw the extra zero, I was speechless! I couldn’t comprehend that I’d just won $500,000!”
The winning ticket was bought at the Meijer store on 10 Mile Road in Rockford, Michigan,
Commenting on the win lottery commissioner Suzanna Shkreli said: “We love hearing all of the fun and exciting ways our players find out they’ve won big prizes, and a win like this is what every Lottery player dreams of!”
She added: “Winning a prize of $500,000 is a thrill in itself, combined with the excitement of winning on Christmas, and your birthday, from a ticket you received as a gift makes it even more incredible.”
WINNING GAME
The Detroit Lions instant game costs $5 and has overall odds of 1 in 3.95.
Prizes range from $5 up to the jackpot of $500,000 – and there are three of these.
Players must match any of their numbers to any of the winning numbers to win the prize shown.
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.
The game launched in September and so far more than $21 million have been won.
Other recent instant wins include the player in Connecticut who won twice with two tickets he purchased in the same place.
The lucky lotto winner scooped $200,000 on a Cash Royale ticket then a few days later won $750,000 on a $1,000,000 Jumbo Cash ticket.
Meanwhile, a Powerball prize dating back to March last year still has not been claimed.
The $50,000 winning ticket was purchased at a Super One Foods outlet in Baxter – around 130 miles from Minneapolis, Minnesota – and is still up for grabs.
Players are being urged to check their old tickets and soon – the deadline for claiming the cash is a year after the draw, so there’s just weeks left before the ticket expires.
Responsible gambling
Remember to gamble responsibly
A responsible gambler is someone who:
- Establishes time and monetary limits before playing
- Only gambles with money they can afford to lose
- Never chase their losses
- Doesn’t gamble if they’re upset, angry, or depressed
- National Council on Problem Gambling – https://www.ncpgambling.org/
- Gamble Aware – www.begambleaware.org
For help with a gambling problem, call the National Gambling Helpline on 1-800-522-4700 or go to ncpgambling.org/chat
