In San Diego, California, a recent trip to a comic book store has resulted in a life-changing USA Powerball win. The winner, Kent Li, couldn’t be more thrilled or excited for the future with his $1.5 million windfall.
The winner decided to visit his favorite comic book store and on his way, he chose to stop and play Powerball just for fun. That was the decision that changed his life forever because he is now $1.5 million richer.
Kent bought a ticket because he saw how massive the jackpot had become last year in the month of November. When he entered one of the draws, the grand prize was $359 million. He was adamant about stopping and getting a lottery ticket or he felt as though he would miss out on the opportunity of a lifetime.
The winner bought five lines of Powerball tickets from a popular 7-Eleven store on Midway Drive in San Diego. He continued with his day as usual afterward and didn’t think much of his tickets. He went to his comic book store and enjoyed his chill-out time there. He only remembered about his tickets much later on.
“When I saw one of the local news stations announce that the winner was from San Diego, I couldn’t believe my ears! But then when I heard them say the name of the store, I knew that I had been there and there could be a chance that I was the lucky Powerball winner. So I checked my numbers immediately,” explained Kent.
Kent matched five lucky Powerball numbers which were 7, 32, 41, 47 and 61. He narrowly missed out on the Powerball number 3 which could have won him the grand jackpot on November 23rd, 2016.
It’s a common occurrence for lottery winners to realize they might have won after hearing about lottery wins on the news. People just forget that they’ve bought tickets. Sometimes the store manager has even tracked down winners by finding them on CCTV when they came into the store to buy tickets.
His Powerball win was so close to winning the huge jackpot that he told lottery officials he was a little disappointed. He isn’t ungrateful for his blessing, but he wished he could have won more because he really needed the money. “I got a good sum of money, but I almost felt like I came in second place,” he chuckled.
The draw that Kent entered took place in November 2016 and took him until the 20th of January to claim his winnings. He told Californian lottery officials that he wants to invest his money but won’t stop playing the lottery. “I’m going for all six numbers!” he said.
We wish Kent Li all the best of luck and massive congratulations!
We have all heard about the lottery winners that ended up broke after few years and we have also heard about some winners that were successful in not only retaining but growing their wealth. There are also some other interesting facts and statistics about lottery winners that many people haven’t heard before. Here we aim to bring those facts into the limelight.
1. Lotteries are Most Popular in North America
Though lotteries are played all around the world, yet it is a fact that it is most popular in the North American region. Now we won’t force you to believe this fact blindly rather we will prove our claim using statistical fact. According to the North American Association of State and Provincial Lotteries, North Americans spend around $58 billion on the purchase of lottery tickets annually.
2. 32% Lottery Winners Gain Weight
Money is a powerful sedative and a stimulant. As soon as a person knows that he has won millions of dollars, he is most likely to get lazy. This is why many lotto winners quit their job and spend the rest of their life chilling around. With such a care-free lifestyle it won’t be far from reality to say that 32% of the lottery winners gain weight and only 12% of winners decide to join a gym.
3. 83% Winners Share Their Prize Money with Their Family
The news of you winning a lottery jackpot cannot be concealed. People will get to know about it and will remind you that they are your family. It was found in a study conducted by the Camelot Group, that the higher the amount of prize money the more likely is that the winner will distribute the money among his family. Quantitatively speaking, 83% of lottery winners share their winnings with their parents, siblings, and children.
4. 24% Lottery Winners Buy House in a Foreign Country
People do a job to make their both ends meet but in our minds, we all have a secret desire to go to a foreign land, where nobody understands our language and spend some time there. This is why most winners go to a foreign land when they win the jackpot. 24% of those winners even buy a house in a foreign country while 7% buy an RV to live while on the go.
Winning millions of dollars without really working hard for it can sometimes be financially harmful to you. That’s because you have loads of money in your bank account but you aren’t financially literate or astute. So, rather than managing the money prudently, many lottery jackpot winners end up blowing all their money within few years. Here are 3 Lottery winners that won big time but soon went broke:
1. Janite Lee
Janite Lee, an immigrant from South Korea, ran a wig shop in the US. In 1993 her life and her dreams completely changed when she won an Illinois Lottery jackpot worth $18 million. With that money in hand, she decided to donate to various charities and attend fundraising luncheon. She also donated munificently to universities and gambled unsuccessfully with some of her money. Then the day of reckoning came when the Internal Revenue Service send her a notice to pay the tax on her spending. As you may have guessed it already, Janite Lee didn’t have the money, so she filed for bankruptcy in 2001.
2. Suzanne Mullins
In 1993, the jackpot of $4.2 million was won by Suzanne Mullins. After the tax payments and other payments that she made to her family, she still had 20 annuity payments of $50,000. This should have been enough for her to lead a life of a millionaire but she took an unwise decision to take out a loan from People’s Lottery Foundation of $20,000 and was unable to repay it back. In 2004, the People’s Lottery Foundation sued Suzanne Mullins, as she was unable to return the loan.
3. Evelyn Marie
Evelyn Marie achieved the impossible when she shocked the world by winning two lotteries in her life. She would have thought that she would never ever face financial difficulties back in her life, but things turned out to be negative. Her friends and family began to ask for money and the strangers too. Evelyn Marie lost a large portion of her jackpot winnings while gambling in Atlantic City casinos and now works two jobs to support her. Now after she had lost everything that she has only one advice for the future lottery winners. ‘As soon as you win a lottery, the first thing that you should do is to go to your lawyer and accountant.’
Thousands of people all around the globe win lotteries annually but there are very few people who make the correct investment decisions and multiply their wealth manifolds. So, what is their secret? Here in this article, we have pointed out the avenues in which a jackpot winner can invest prize money to ensure that they keep growing.
Invest Prize Money in Treasury Bills
The US Treasury bill is considered as one of the safest investment options. They are risk-free investment vehicles and provide lowest return on your investment as the repayment is guaranteed by US Treasury, the FED. You can contact your banker and instruct them to invest a portion of your prize money that’s in your account in the US Treasury bills.
Invest Prize Money in a Mutual Fund
After investing in the T-Bills you should also invest some amount in a tax-free mutual fund. The units of these funds are listed on stock and can be purchased by contacting a broker. They can then again be sold on the stock exchange to lock in a capital gain. If you yourself aren’t aware of investing in the stock market, then investing in a mutual fund is the safest option because your money will be managed by capital market professionals.
Certificate of Deposit
If you are ready to invest some amount of prize money for a fixed time period and give up your liquidity, then a certificate of deposits (CDs) is a good option for you. These CDs generally pay a higher rate than the Treasury Bills and are considered a safe investment. The only negative thing about them is that if you decide to liquidate them before the maturity date, the bank will levy some penalty on you.
Be a Seed Capital Provider
With huge jackpot winnings in your hand, you can decide to invest in someone else’s business. As a matter of fact, you will be looked as a venture capitalist that provides seed capital to a local small but rapidly growing business. This is risky as if the business fails your capital will be lost as you were a partner in the business. However, the profits in providing seed capital and acquiring a certain percentage of ownership are humongous if the business turns out to be a success.
Lotteries are commonly played all around the world. The money received from the sale of lottery tickets are used to finance public sector projects, educational institutions and to give the prize money to the winners. In the US too, lotteries are popular and the size of prize money of the US lotteries is much larger than the prize money of other lotteries in the world. Here are some of the most commonly played and popular lotteries in the US that you should know about and should try out:
This is one of the most popular lotteries played in the US. The jackpot prize money is $2 million however it keeps rolling up if no one wins the jackpot. The draws are held every Wednesdays and Saturdays at 10:59 pm EST. Each ticket to participate in the lottery costs $2. It is extremely easy to play this game; the player has to pick 5 numbers and then a one Powerball number. In order to win the jackpot of $2 million, all the six numbers have to be matched.
2. Super Lotto Plus
The ticket to play Super Lotto Plus costs $1 only. Out of this $1, 95 cents are channeled back to the community in the form of contributions to the public educational institutions. The method to play Super Lotto Plus is relatively straightforward; the player has to choose 5 numbers from 1-47 and one number from 1-27 numbers. The minimum jackpot that a player can win is $15 million. The draw takes place on every Wednesday and Saturday at 7:45 pm.
3. Mega Millions
This is also another lottery popular in the US. The ticket of the lottery costs only $1 and a jackpot of $1 million can be won. However, in Mega Millions, the player has the option to avail Megaplier feature and push the value of the jackpot to a $5 million level. The highest mega millions jackpot amount ever won is $656 million.
So, do you think that you are a lucky brat who can win obscene amounts of money in the lottery jackpot? If you believe that to be true, then you should buy lottery tickets of the aforementioned lotteries right now and pray under a shooting star that the next winning numbers match your previously chosen numbers.
Lotteries are played widely all across the US. Millions of people buy lottery tickets in the hope of winning the jackpot. The money received from the sale of lottery tickets are used to fund educational institutions and various research projects. There are also many people who do not play lottery just because they mistakenly think that they aren’t eligible. Here we have answered some lottery questions that many people are afraid to ask their lottery retailer.
I am not a US resident; will I be allowed to play the lottery in the US?
Yes, you can play the lottery. If you live in any state but do not hold the citizenship or even if you are a foreigner, you can buy lottery tickets. Furthermore, if you win any lottery division prize, you will be allowed to claim the prize. However, note that if you live outside the US in another country then your prize money will be taxed twice once in the US at the official US tax rate and then in your home country accordingly.
How can I purchase a lottery ticket if I live outside the US?
The process is simple. There are many online vendors that sell tickets of US lotteries. You can simply visit their website, make the payment and participate in the lottery. The winning numbers of the lottery will also be published on the website just after the draw takes place so that you can check whether or not you won it.
I am an illegal immigrant in the US can I buy a lottery ticket?
Yes indeed, you too are eligible to buy US lotteries and if you win it you will also be allowed to claim it. However, the downside is that you will be immediately deported from the US. However, if you won the jackpot of some million dollars then you might be given the green card.
So now that you have the answers to your lottery questions, would you like to buy a lottery ticket and participate in the draw? You can purchase them from a nearby shop that sells lotteries or you can simply visit our website and purchase lottery tickets online.