- Money
- News Money
BAD LUCK
An instant ticket player won one of three $4 million prizes
- Charlotte Maracina, Freelance News Reporter
- Charlotte Maracina, Freelance News Reporter
A LUCKY lottery player won $4 million after paying $10 for an instant ticket game.
The man, from Massachusetts, chose to receive the prize in a one time payment of $2.6 million before taxes.
1
Jason Coulstring, the lucky winner, bought his ticket at a nearby Superstore, a press release for the Massachusetts State Lottery states.
Coulstring spent just $10 on Massachusetts State Lottery’s newest instant ticket game, the $4 million Lion’s Share.
After winning, Coulstring could either accept a one time payment for $2.6 million or received the $4 million payment through several annual installments.
Coulstring opted to receive a one time payment of $2.6 million to help with his plans of purchasing a new car for his wife and renovating his home.
READ MORE ON LOTTERY WINNERS
Not only does Coulstring and his family benefit from the win, but the store that he bought the ticket at does too.
The store that sold the winning ticket will receive a $40,000 bonus from the lottery.
The $4 million Lion’s Share game was just released on April 16 and already 856 prizes worth $600 or more have been claimed, Mass Live reported.
There’s still two $4 million prizes to be claimed and four $1 million prizes left, the Massachusetts State Lottery reported.
Most read in Money
OH FLIP Fuddruckers CEO hits back at claims all locations are closing in 2024
SAD SIPS Costco member stunned after woman demands refund on 69 cent drink for its temp
The Massachusetts State Lottery first started in 1971 to generate local aid revenue for the state’s cities and towns and has since generated more than $32 billion in net profit for the state, the Massachusetts Government reported.
Coulstring isn’t the only lotto winner to cut his winnings in half by opting for a one time payment over several annual installments.
Lottery warning to check Powerball tickets for new unclaimed $215 million jackpot – and the ticket is a ‘quick pick’
Ceasar Rubio recently bought a $50 lotto ticket at an EP Mart in Raleigh, North Carolina.
After buying the ticket, Rubio discovered he won the million dollar jackpot.
When he went to claim the prize, he came to the same crossroads as Coulstring: divide his winnings nearly in half, taking home $600,000 immediately, or accept 20 annual installments of $50,000.
Rubio chose to accept the one time payment of $600,000.
After taxes, he took home a little bit over $429,000.
Many other lottery winners opt for the lump sum payments, too, but some financial advisors warn against this.
Andrew Stoltmann, an investment fraud attorney who has represented a handful of lottery winners, told CNBC he advises lottery winners to accept the yearly installments.
Read More on The US Sun
“We see common mistakes made by the winners who take the lump sum distribution,” Stoltmann said.
“If you take the distributions over 25 years, you can make those common mistakes the first couple of years and still have most of the money left over.”
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.
Topics
- Lotto
- Money US
- National Lottery
- US Lottery
NEW STORIES ON THE SUN
YOU MIGHT LIKE
RECOMMENDED FOR YOU
MORE FOR YOU
