Missouri — A lottery winner is running out of time to claim their $1 million prize.
They bought the Mega Millions ticket months ago and will lose the money if they don’t identify themselves soon.
Missouri officials have advised residents to double-check the Mega Millions slips they purchased for the October 25, 2024, drawing.
The drawing yielded the numbers 23, 26, 35, 41, and 43, as well as a gold Mega Ball with the number 7.
According to the Missouri Lottery website, the unknown winner matched all five white balls, narrowly missing the Mega Ball, and won $1 million.
For reference, the probability of receiving Match 5 is 1 in 12,607,306.
As if that wasn’t enough, another Missourian won a Match 5 during the same drawing, earning a similar $1 million.
The first player bought their ticket from the Alta Convenience Store in Creve Coeur, about 14 miles west of downtown St. Louis.
The second party bought theirs from The Pantry, located in Branson, approximately 44 miles south of Springfield.
According to Missouri Lottery rules, players have 180 days from the drawing date to claim their prize money.
ACT FAST
That means both have until April 23, 2025, to claim their combined $2 million winnings in person at MO Lottery headquarters, as both prize pots are well over $600.
Should neither player make it in time, they will lose out on the millions.
We will redistribute the funds instead to support Missouri public education.
If the Mega Millions winners do claim the cash by the deadline, they’ll also face a crucial decision on how to receive it.
Lottery winners can always get the money through two options: a lump sum distribution or annuity payments.
Annuity payments split the prize pot among annual distributions for a set number of years.
Lottery winnings: lump sum or annuity?
Players who win big on lottery tickets usually have a choice: lump sum or annuity.
The two payout methods can affect the amount of money you receive from your prize.
Annuities typically pay out in slow increments over a 30-year period.
Lump sums pay all at once, but in a smaller amount, because taxes are withheld all at once. This means that Uncle Sam receives 24% of your prize right away. Many states tax winnings as well.
Annuities can give winners time to build the financial infrastructure needed to receive a life-changing amount of money, whereas lump sums are taxed only once.
Inflation is also something to consider when making a decision, as payouts do not adjust with the value of a dollar. That means you’ll likely receive less valuable money near the end of your annuity.
Prize payouts vary by state and game, so it’s best to check with your state lottery to confirm payment policies. A financial advisor can also help you weigh the benefits and drawbacks of each option.
Experts differ on whether to take a lump sum or an annuity.
TAXING TIME
The lump sum distribution means players get the cash all at once, but it faces significant taxes.
Before either of the October winners sees any of their $1 million paydays, for example, they’ll owe the federal government 24% and Missouri 4%, per AARP.
This implies an immediate deduction of about $280,000 from the $1 million.
Each player would only leave with approximately $720,000, considering the circumstances.
Mega Millions also recently confirmed some major updates for players in 2025, including a price increase on tickets.
The jackpot for Mega Millions also recently increased to a historic $1.15 billion total in a Christmas miracle as players buy up tickets.
