Powerball warning as prizes worth $150k still remain unclaimed – they’re on the verge of becoming worthless

POWERBALL players have been warned to check their numbers after two prizes worth a combined $150,000 remain unclaimed.

Lotto chiefs warn that the money will become worthless if players do not come forward in weeks.

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One of the tickets was bought at a Shell gas station in Worcester, Massachusetts , while the other was bought at a liquor store in Chelmsford, per Boston CBS affiliate WBZ .

The ticket bought in Worcester was purchased ahead of the October 2, 2023 draw.

This means the prize will expire on October 2 if the player doesn’t come forward.

The ticket bought in Chelmsford, worth $50,000, will expire on October 7.

If the prizes are not claimed, then the money will be reallocated to a pot for towns and cities in the state.

Powerball players in Massachusetts have one year to claim their prizes.

However, the deadline is not the same for all US states.

In Louisiana , for example, gamblers have 180 days to claim their prizes.

Some states, such as New Mexico, only have deadlines of 90 days.

Top Florida attorney Walt Blenner told The U.S. Sun winners shouldn’t really wait before cashing in their ticket.

He alluded to the risks that players could face if they delay coming forward.

“Rule number one: Get everything together, redeem the ticket, and get out of dodge,” he said.

Lotto players have also been urged to sign the back of their tickets before coming forward.

And lawyers have advised they should store their tickets in a fireproof location.

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.

Attorneys from Phillips & Hunt recommended winners shouldn’t post about their success on Facebook.

They should avoid uploading pictures to social networks at all costs.

Lotto algorithm founder Jared James recommended five moves lotto winners should make .

He has urged winners to insulate themselves, building up the best team of financial advisers and attorneys.

“It takes a little effort but it’s going to be worth it in the long run,” James said.

He also warned players to stay humble and be disciplined.

Lotto winners often face a dilemma on how they want to receive their prize – either as a lump sum or in installments.

Lawyers have chimed in and offered their views on which option is better.

Andrew Stoltmann, a lawyer, told The U.S. Sun that around 90% of winners make the mistake of taking the lump sum.

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

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 .