Why are there so many unearned lottery prizes

There are two main reasons not to collect a lottery prize.

Photo: Saul Loeb/AFP/Getty Images

Even though it’s been several weeks since the celebration Mega Millions lottery drawing, which gave away 1.34 billion dollars, there is no news yet on who was the lucky winner. Such an amount of money.

It seems to be a very strange situation because who does not want to have in their hands that amount of money that would undoubtedly change your life and could solve a large part of your problems; However, the truth is that there is a long list of notable lottery prizes that have not been collected before.

According to CNN, Lottery expert Brett Jacobson Do research on this topic He claims that there are billions of dollars in unclaimed lottery prizes every year.

Jacobson explains it too Most unclaimed lottery prizes are small. For example, Powerball got a $4 prize for matching your Powerball number only, while Mega Millions got a $2 prize for matching your Mega Millions number.

But some minor prizes may be worth $1 million or more and it is very likely that some of those $1 million prizes will never be claimed.

While it is possible to claim a winning ticket sometime after the draw, some states give ticket holders only 6 months to do so.

According to a lottery expert, Many lottery players don’t even know they’ve won a minor prize They do not check their tickets after discovering that there was no grand prize winner or the winning ticket was purchased out of state.

until Jacobson said some winning instant games tickets were never delivered to claim the prize. People lose the winning ticket Or you put it aside and forget to deliver it within the allotted time.

According to this man’s research, In the last 16 years, there have been 5 unclaimed grand prix, Ranging from $31 million from a ticket purchased in Queens, New York, in August 2006, to $77 million from a winning ticket purchased in Georgia in June 2011. The oldest unclaimed ticket is the $68 million winner purchased in New York on the eve of Christmas 2002.

All of those prizes have since expired, so even if someone found the winning tickets today, there would be no way to collect them.

Although there are exceptions, the truth is that the big winners almost always collect their winnings, although many do so through trusts or other means of staying anonymous.

It may interest you:

* Lottery expert shares 5 things not to do when buying tickets to increase your chances of winning
*Won $2 million in the lottery but took 11 months to claim his prize
* Lottery winner shares 4 strategies to increase your chances of winning a big prize

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