Lottery warning to check ticket for unclaimed $1 million Mega Millions jackpot and it was bought at a convenience store

ONE lucky lottery winner unknowingly holds a million-dollar ticket.

A $1 million Mega Millions ticket purchased at an Illinois convenience store still needs to be claimed, according to the Illinois Lottery.

The ticket bought at Casey’s in Rockford, Illinois, matched Friday’s winning numbers of 2, 14, 33, 58 and 65, per the Illinois Lottery.

Not only will the winner take home a fortune, but the store will also be rewarded a $10,000 bonus for selling the golden ticket.

However, the lucky lotto winner may not actually end up walking away with the full jackpot prize.

When the winner does come forward, they will have a big decision to make: walk away with a lump-sum payment of around $500,000 or take the full $1 million in several installments.

LIFE-CHANGING CHOICES

Lottery winner Odessa Chamblee has to make this tough decision when she went to collect her $2 million winnings on July 30.

Chamblee won the major prize on a $20 100x The Cash scratch-off she bought at The Village Store in Hertford County, North Carolina.

The North Carolina woman had to decide whether to receive a one-time payment of $1.2 million or the full $2 million in $100,000 payments over 20 years.

Chamblee chose the one-time payment of $1.2 million and eventually walked away with $856,006 after taxes.

Further up north, a Massachusetts woman had to make the same life-changing decision.

Erin Cobb won $1 million playing a $50 Jaws scratch-off ticket she bought from a Stop & Shop in Pembroke, Massachusetts.

“This is life-changing,” lottery winner Erin Cobb told Mass Live.

“We will make the most of it, and will have some fun,” she said, adding that she will use the money to go on a nice family vacation.

Rather than taking home the full $1 million, Cobb decided to take the one-time lump-sum payment of $650,000, before taxes.

LAWYER'S ADVICE

Taking the one-time payment is a popular choice among lottery winners, but lawyers and financial experts often advise against doing so.

How to win the Mega Millions

There's several ways to win money from the Mega Millions. A player starts by picking five numbers between 1-70 and one Mega Ball number from 1 to 25. Then, when the numbers are drawn, players can win money from:

• Five white balls + One gold ball = Jackpot.
• Five white balls = $1 million.
• Four white balls + One gold ball = $10,000.
• Four white balls = $500.
• Three white balls + One gold ball = $200.
• Three white balls = $10.
• Two white balls + One gold ball= $10.
• One white ball + One gold ball = $4.
• One gold ball = $2.

According to the Powerball website, the lump-sum payment offers a full upfront prize, whereas the annuity payment offers one immediate payment followed by 29 annual payments.

Andrew Stoltman, a Chicago-based lawyer known for representing lottery winners, told CNBC that “virtually everybody who wins the lottery picks the lump sum distribution.”

“And I think that’s a mistake.”

Stoltman said most lottery winners lack the infrastructure to make financially wise decisions with their winnings, leading to poor spending.

Taking the annuity payments protects winners from financial mistakes, according to Stoltman.

Despite the lawyer’s advice, an Ohio woman opted for the lump sum payment of $7.5 million rather than taking the full $15 million she won.

Plus, a lottery winner won $1 million but experienced a devastating loss just weeks later.

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

If you or someone you know is struggling with gambling addiction, call the National Gambling Helpline at 1-800-522-4700 or visit the National Council on Problem Gambling online.