It's sure to be a very happy Christmas for one lucky lottery winner – even though they don't know it yet.
The unidentified player won a whopping $2 million in Powerball on December 21, doubling his initial prize of $1 million.
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He or she matched all five white balls in the draw – although no one was able to hit the jackpot this time.
The winning white ball numbers were 1, 12, 17, 21 and 58, and the red Powerball numbers were 1.
Everyone who purchased the ticket, which was purchased in New Jersey, also paid for the Power Play, so their prize increased by 100%.
This optional feature costs $1 per play, and if five balls are matched using Power Play, the prize is automatically doubled to $2 million.
With other non-jackpot jackpots, the multiplier varies by 2, 3, 4, 5 or 10 times and is chosen at random each time.
The anonymous winner now has one year from the December 21 drawing date to claim their prize.
The second winner, this time in Idaho, also took home $2 million in the same drawing.
They also correctly matched the five white balls and doubled their money by choosing a Power Play.
While in Illinois, someone became $1 million richer after matching all five white balls on December 21.
The jackpot was not won during Saturday's drawing, so it now increases to $103 million for the next drawing on December 23.
The cash value is $47 million, according to the Powerball website.
Exchange money
Due to the amount of money involved, the winner will not be able to claim their prize at the location where they purchased their ticket.
A claim form must be completed in order to receive the prize money.
It is available on the New Jersey Lottery website, from lottery retailers or from New Jersey Lottery headquarters in Trenton.
Lottery winnings: lump sum or annuity?
Players who win large sums of money on lottery tickets usually have a choice: lump sum or annuity?
Both payment methods can affect the amount of money you get from your prize.
Annuities are paid out slowly in increments, often over 30 years.
Lump sums are paid all at once but in a smaller amount, as taxes are withheld all at once. This means that 24% of your prize goes to Uncle Sam immediately. Many states tax gains as well.
Pensions can buy winners time to build the financial infrastructure needed to receive a life-changing sum of money, but lump sums have the advantage of being taxed only once.
Inflation is also worth taking into account when making a decision, as payments do not adjust to the value of the dollar. This means you'll likely have less money back at the end of the annuity.
Each state and game pays jackpots differently, so it's best to check your state's lottery to confirm payout policies. A financial advisor can also help you weigh the pros and cons of each option.
Experts have varying opinions on whether you should take a lump sum or take an annuity.
The winner must sign the back of the ticket before scheduling an appointment to submit their claim in person.
What happens if the deadline is not met?
If the winner does not apply before the deadline, he or she forfeits the right to the prize.
In such cases, a percentage of the prize money goes to each state in which Powerball is played.
This is then used to fund public works and can find its way back into other lotteries.
Powerball drawings are held on Mondays, Wednesdays and Saturdays, with the Saturday evening drawing attracting the largest number of players.
Another lucky lottery customer in Missouri has $1 million and doesn't even know it after purchasing a winning ticket in the Mega Millions drawing six weeks ago.
Meanwhile, another Mega Millions winner in Florida is set to become $5 million richer when he claims his prize in the December 10 drawing.
Responsible gambling
Remember to gamble responsibly
A responsible gambler is someone who:
- Sets time and financial limits before playing
- Only gamble with money they can afford to lose
- Never chase their losses
- He does not gamble if he is upset, angry, or depressed
- National Council on Problem Gambling – https://www.ncpgambling.org/
- Gamble Aware – www.begambleaware.org
To get help with problem gambling, call the National Gambling Helpline at 1-800-522-4700 or go to ncpgambling.org/chat
