.
Due to Michigan Lottery regulations, a fortunate individual from Michigan who purchased a Powerball ticket worth $1 million last year is now unfortunately unable to claim their millionaire status. As of Thursday afternoon, the ticket holds no value, rendering it as insignificant as the paper it was printed on.
The winning ticket was sold at the Marathon gas station in Ionia. According to lottery regulations, the prize must be claimed by the ticket holder within a year.
Nevertheless, the story concludes on a positive note as the Michigan School Aid fund received an unexpected windfall of $1 million due to the oversight.
Billions of lottery prizes left unclaimed
It is difficult to comprehend an unclaimed lottery ticket worth $5, let alone one worth $1 million.
Surprisingly, yet again, a prize amounting to six figures remained unclaimed this year. In July, a player missed out on cashing in a ticket for the Fast Cash Jackpot Slots, which was worth an impressive $519,456. Similarly, in August, a woman came perilously close to disregarding a Powerball ticket that held a winning amount of $50,000, but thankfully she didn’t.
Lottery prizes left unclaimed in the US reach staggering amounts, as revealed by Brett Jacobson, a renowned lottery specialist. Jacobson diligently gathers information from all state lotteries, and his findings for the period ending June 2017 indicate that players failed to collect prizes worth almost $3 billion.
A total of 167 prizes worth a minimum of $1 million were left unclaimed by players who failed to step forward in time. Additionally, numerous secondary prizes still remain uncollected as the majority of players only verify their numbers against the jackpot.
Jacobson informed CNN Money that individuals are often unaware of the existence of secondary rewards.
In 1998, a Michigan Lotto game ticket worth $34 million was purchased in East Lansing, but unfortunately, it was forgotten, making it the biggest unclaimed lottery prize in Michigan.
The Michigan Lottery website reports that there are three significant winning tickets that will soon reach their expiration date.
- The $50,000 Powerball ticket purchased at Cordial Party Shoppe in Taylor will expire on November 15, 2018, at 4:45 p.m.
- The $209,815 Fantasy 5 ticket purchased at A&G Market in Flint will expire on December 4, 2018, at 4:45 p.m.
- The $50,000 Powerball ticket purchased at Saginaw Fuel South in Grand Blanc will expire on December 10, 2018, by 4:45 p.m.
Michigan School Aid Fund
Not only does $0.28 of every dollar in Michigan benefit the Michigan School Aid Fund, but also all unclaimed lottery prize money contributes to it.
Public education has been supported by the Michigan Lottery with a contribution exceeding $21 billion since 1972.
The funds allocated to the Michigan State School Aid are specifically intended to provide financial support to public schools, school districts, higher education institutions, and retirement programs for school employees.
While it is commendable to donate $1 million to the Michigan School Aid fund, it is important for someone to willingly choose to be a part of it.
Make sure to grip your lottery tickets tightly and double-check the numbers. This simple advice might actually be worth a fortune.