WHAT HAPPENS IF THE BILLION LOTTERY TICKET GOES UNCLAIMED?

There is a lottery ticket worth $1.34 billion dollars recently sold in Illinois! What happens if it goes unclaimed? In this video, podcaster and Powerball winner Timothy Schultz reveals the details.

A single Mega Millions lottery ticket was sold in Des Plaines, IL for the massive $1.34 billion dollar jackpot on July 29th. The winning numbers were 13-36-45-57-67 with the Mega Ball of 14.

What should this billion-dollar winner do now? WATCH HERE: https://youtu.be/UAOJ80KZC5c

Whoever won this mega jackpot hopefully is aware and is speaking with financial advisors and attorneys as to how to claim the ticket. However, what happens in the scenario that the ticket goes unclaimed? What if someone doesn’t realize that they won or worse, misplaced the ticket?

In the state of Illinois, it turns out that you have 12 months to claim the prize. That gives time to prepare; however, there is a shorter deadline that is very important.

According to the Illinois lottery rules, a winner has 60 days from the day of the drawing to choose between the cash vs. annuity options. That means they can choose half of the prize right away in the cash option or the entire prize over a period of 29 years. If they do not choose within this 60-day period, they will be forced to claim it as an annuity.

Many lottery winners choose the cash option for a number of reasons, including that they can often make more money through investments than they would if the lottery paid the whole prize out over 29 years.

What happens if no one comes forward to claim the prize after 1 year? In that scenario, all money generated for this drawing will be returned to the states in which they came from. And in the state of Illinois itself, the unclaimed money will go to the Common School Fund to support kindergarten through twelfth grade education.

Historically, there have been other major lottery prizes that went unclaimed. This includes a $46 million-dollar Mega Millions ticket in NY in 2006, then another one 2002 for $68 million, and a $77 million-dollar Powerball ticket that went unclaimed in Georgia in 2011.

If you play the lottery, never spend more than you can afford, have fun with it, and remember to check your tickets if you play!

If you like this video, hit the “like” button. What do you think of this video and what would you do if you won the lottery? Comment below with your thoughts!

WHO TO CONTACT IF YOU WIN THE LOTTERY: https://youtu.be/WDlfg2o3Nyo

WHY YOU CAN WIN THE LOTTERY IN 2022: https://youtu.be/jo187wr5h-I

Timothy Schultz is a podcaster and Youtuber with Bullhead Entertainment, LLC. In 1999, he won the Powerball before going back to college to study journalism and broadcast news. He’s now combining his experience to launch this podcast, “Lottery, Dreams and Fortune”.

This channel has an emphasis on overcoming the odds and the belief that anything is possible. Previous guests have included the winner of the first American season of 'Big Brother', a near death-experience survivor and several lottery winners, among other guests.

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PODCAST INTERVIEW WITH $50 MILLION LOTTERY WINNER RANDY RUSH: https://youtu.be/RakKCYH1LYI
$10 MILLION LOTTERY INTERVIEW WITH BRADLEY HAHN: https://youtu.be/xOVozHVlsHg
$4.75 MILLION LOTTERY WINNERS PODCAST WITH DENISE & CALVIN WILSON: https://youtu.be/0RSCf6FIVe4
EUROMILLIONS WINNER INTERVIEW WITH ANNE CANAVAN: https://youtu.be/gqj4yC6Qvd4
LOTTERY PODCAST: INTERVIEW WITH LOTTERY WINNER ROBERTO MENDOZA: https://youtu.be/WoKXCoLr_lw
I DREAMT ABOUT WINNING THE LOTTERY AND THEN IT HAPPENED: https://youtu.be/KD2WSIR_rCs

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