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The Million Instant Ticket, part of the Illinois lottery system, is a scratch-off ticket game with three top prizes of $10 million, 15 prizes of $1 million and odds to win $500 on any ticket sold ...
Winners of a Mega Millions(on an Illinois Lottery ticket) or a Lotto jackpot must choose the cash option within 60 days of the drawing if the cash option is desired [12] (a Powerball jackpot winner on an Illinois Lottery ticket has 60 days after claiming to make their choice). Purchasers must be at least 18 years of age to purchase an Illinois ...
When you win a top prize with the lottery, you may have two choices for payout: a lump sum or an annuity option. It is important to consult with a professional who can help you decide which option ...
Instant lottery tickets, also known as scratch cards, were introduced in the 1970s and have become a major source of lottery revenue. Individual lotteries often feature three-digit and four-digit games akin to numbers games; a five number game , and a six number game (the latter two often have a jackpot ).
Lottery games with "lifetime" prizes, known by names such as Cash4Life, Lucky for Life, and Win for Life, comprise two types of United States lottery games in which the top prize is advertised as a lifetime annuity; unlike annuities with a fixed period (such as 25 years), lifetime annuities often pay (sometimes for decades) until the winner's death.
The Illinois Lottery is looking for the owner of an unclaimed ticket purchased in Chicago last October. It's among $4.5 million in unclaimed winnings.
While the largest lottery prizes in the early history of U.S. state lotteries were "annuity-only," these lotteries gradually introduced a "cash option" for these games. All prizes listed below are reported as the pre-withholdings amount, as this is taxable income the player must report on their returns to be subject to taxation.
"We all win when that ticket is sold, which is the true meaning of our motto — Illinois is Full of Winners," writes Lottery Director Harold Mays Your turn: Why the Illinois Lottery is more than ...