Siblings win $25k a year for life after using identical lottery tactic – but their strategy slashed the prize in half

SIBLINGS walked away with $25,000 a year for life using an identical lotto strategy, however, their tactics slashed their winnings in half.

William Fralick and his sister Pamela McClure won the grand prize last month in the Lucky For Life Lottery game.

Massachusetts Lottery

Massachusetts Lottery

The winning numbers for the August 25 drawing were 8-17-19-29-31, which the siblings were able to match, however, they didn’t get the Lucky Ball of 12.

Fralick and McClure played the same numbers, telling CBS News that it represented their family members’ birthdays.

They both chose to take their winnings in the form of a lump-sum payment of $390,000 before taxes with Fralick putting the money into savings.

McClure hasn’t revealed what she’ll do with the money .

Their winnings will be cut significantly after taxes are taken into account.

Fralick bought his ticket at a Star Food Mart in Brockton, Massachusetts – about 25 miles south of Boston.

Meanwhile, McClure bought her winning ticket at a 7-Eleven in Abington.

Each store will receive a $5,000 bonus for selling the winning tickets .

Another Massachusetts man won a $2.64 million Megabucks jackpot after using numbers from a combination of his wife’s old phone number and her favorite numbers.

The Massachusetts Lottery is expected to move online in late 2025, said lotto officials.

Money from the online ticket sales will go toward early childhood education and care in the state.

MAJOR DECISION

Lotto winners can receive their prizes in one of two ways: an annuity or lump sum.

However, each of these methods can impact how much money winners will receive.

By picking an annuity, winners will receive their payment in small increments – often lasting over 30 years.

Meanwhile, a lump sum pays the winner all at once, however, taxes will cut out a chunk of the money .

This means as much as 24% of the prize goes directly to Uncle Sam.

Top lottery winners in the US

Millions dream of winning the lottery and finding fame and fortune. These are the biggest winners in US lottery history.

• Edwin Castro – $2.04 billion, Powerball, Nov. 8, 2022, in California.
• Theodorus Struyck – $1.765 billion, Powerball, Oct. 11, 2023, in California.
• Unknown winner – $1.602 billion, Mega Millions, Aug. 8, 2023, in Florida.
• Marvin and Mae Acosta from Los Angeles, California, John and Lisa Robinson from Munford, Tennessee, and Maureen Smith and David Kaltschmidt from Melbourne Beach, Florida – $1.586 billion, Powerball, Jan. 13, 2016.
• Unknown winner – $1.537 billion, Mega Millions, Oct. 23, 2018, from South Carolina.
• Unknown winner – he sued the mother of his child to keep his identity hidden – $1.348 billion, Mega Millions, Jan. 13, 2023, from Maine.
• Unknown winner – $1.337 billion, Mega Millions, July 29, 2022, from Illinois.
• Cheng and Duanpen Saephan , and Laiza Liem Chao – $1.326 billion, Powerball, April 7, 2024, from Oregon.
• Yanira Alvarez – $1.08 billion Powerball, July 19, 2023 in California.
• Wolverine FLL Lottery Club – $1.05 billion, Mega Millions, Jan. 22, 2021, from Michigan.
• Unknown winner – $842.4 million Powerball, Jan. 1, 2024, from Michigan.

Annuities give winners time to set up a financial plan required to take on the life-changing amount of money.

However, a lump sum comes with the luxury of only being taxed once.

Inflation is also something to consider when choosing a payment option as payouts don’t adjust with the value of a dollar.

This can result in winners getting less valuable money toward the end of the annuity.

However, each state and game pays out its prizes differently.

A lotto player should check with their state’s game to confirm payment policies.

A financial advisor can also help players weigh the pros and cons of each option.

Getty

Getty