There have been many jackpot lottery wins that have gone unclaimed, including in New York. For example, the jackpot for the Aug. 1, 2006 drawing was $31 million, but no one claimed it. The same thing happened on April 25, 2003, when a $46 million jackpot went unclaimed in Brooklyn. And on Dec. 24, 2002, a $68 million jackpot in New York City went unclaimed.
In the early 2000s, the lottery changed the way it paid out jackpots. In Kentucky, the state introduced a new option called “Just the Jackpot.” It allows players to choose the jackpot number on a separate ticket. Most of the time, these tickets are terminal-generated, but in Kansas and Texas, players can select their own numbers.
Winning a jackpot lottery is an incredible opportunity. However, a large amount of money must be handled properly. The first step is to protect the prize. If you win a jackpot, you can choose to receive a lump sum, or you can choose to receive the payout in 30 annual payments. If you are unsure of what to do with your winnings, you should consult with a certified financial planner.
The next step is to determine the actual value of your lottery ticket. You should include taxes and time value of money in your calculation. A common mistake made by amateur investors is to disregard taxes and discount rates and believe the jackpot prize is worth more than it is.