unclaimed Powerball jackpot

Unclaimed Powerball jackpot

Record Powerball winners is idle for 4 months

USA PowerBall lottery representatives from the State of New Jersey are still waiting for the holder of the unclaimed Powerball ticket which was lucky to scoop the $429.6 million jackpot last Saturday on 7 May 2016. According to the official statistics, the jackpot winners tend to claim the money within 2-3 weeks from the draw date. Still, the speaker of the Californian lottery office stated that there was very little chance that the third winner of the huge $1.6 bn pot (raffled in January 2016) will show up in time to claim the money in this way adding another partly unclaimed Powerball jackpot. The winners from the state of Florida and Tennessee were rather swift to provide their winning ticket and get their shares of the prize in full. The player who bought the life-changing ticket in South California is still unknown. According to the lottery regulations, the prize is to be claimed within a year from the day of the draw. Otherwise, the money will be sent to the social welfare development foundation, for the local educational system development.

Unclaimed Powerball ticket

According to the representative of Powerball office in California Alex Traverso, the jackpot winners tend to take time for several weeks before claiming the money as they usually apply for the professional financial and legal advice. The $520 mln unclaimed Powerball jackpot winner is more likely just unaware of his or her huge luck as one has to be extremely patient to wait for so long keeping anonymity for 4 months already.

It has been several weeks already since the campaign, let's call it “Where are you the lucky unclaimed Powerball jackpot winner” ceased. The store owner selling the winning unclaimed Powerball ticket was already paid out his royalties. That also positively affected his business via boosting the inflow of the curious people who wanted to visit the history-making place buying there something along as a memento. Some even believe that the place itself will bring them luck so they buy their ticket there rather than opting to buy Powerball tickets online. According to the store owner the Powerball ticket sales increase by 70% since January 2016.

Claiming Powerball jackpot

In the nearest time yet unclaimed Powerball jackpot winner from Trenton, NJ, will have to make a very important decision. He will have to decide on the prize claiming option within 60 days from the draw date. As it is a case with most American lotteries the main prizes can be claimed either in full or part wise, the so-called lump sum or annuity payments. Should he decide to claim it as lump sum he will get $284 mln before taxation. Eventually, the actual payment will be just $204,480,000 after the 25% federal and 3% state taxes are deducted. On the other hand, he will get $309,312,001 if he is patient enough to wait for 30 years opting for the annuity payment. The payouts will increase yearly starting from $4,655,589.

The unclaimed Powerball jackpot is officially recognized in a year after the draw. The winning Powerball ticket is to be signed and provided by the winner in the head office of the lottery operator. Interestingly enough, the office is just in 5 miles from the store selling the record-breaking unclaimed Powerball ticket. The money transfer usually takes about 3 weeks. Mind that New Jersey is not listed among the 6 states allowing anonymity for the jackpot winners.