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POWERBALL players have been urged to double check their tickets as a prize worth $1 million is still up for grabs.
Officials confirmed that one player bought the winning slip at a Harris Teeter store in Ashburn, Virginia, about 30 miles from Washington, D.C.
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The Powerball ticket was bought ahead of Monday night’s draw.
And the gambler came agonizingly close to winning the $184 million jackpot but missed out by just one number.
They matched the first five numbers in the draw and are in line to pocket $1 million.
But, the winner is set to lose thousands of dollars before walking away with their prize.
Gamblers who win more than $5,000 must pay a 24% tax to the federal government.
Then, state officials in Virginia hold back 4%.
Virginia officials have urged the ticket holder to sign the back of the slip before claiming their prize.
The clock has started to tick as they have around 180 days to come forward.
Some states give players a maximum of 90 days to claim their prize, while others have a more lenient deadline — up to a year.
The Harris Teeter store, which sold the ticket, will also profit from a $10,000 bonus.
The odds of matching five numbers on the Powerball are one in 11.6 million.
But players must defy the odds of one in 292.2 million to scoop the jackpot.
The estimated jackpot stands at $196 million, and the next draw will take place today.
It has an estimated cash value of $90.7 million.
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.
Jackpot winners face a choice when it comes to claiming their prize.
They can either receive their prize in one swoop, known as the lump sum, or in the form of staggered payments.
Financial advisers have previously told The U.S. Sun gamblers should think twice before they take the lump sum.
Robert Pagliarini warned players who take the lump sum are under pressure to make their prize last.
“The real advantage of [taking] the annuity is that every year you get a new check,” he said.
“You can screw up year after year and make bad decisions.”
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.
