You might have been hearing stories recently about multimillion-dollar Powerball prizes, but what happens when those prizes go unclaimed?
Megan Wade-Taxter, Public Relations Manager for the Hoosier Lottery, sent WIBC this statement:
Half (50%) of each Powerball ticket sold is contributed to the Prize Pool from which Powerball prizes are paid. The remaining 50% is retained by the Hoosier Lottery and used to fund various operational costs (including the payment of retail commissions, central gaming system costs, and other related business expenses.) The remainder, net of operational costs, is transferred to the State in the form of Surplus Revenue and used to fund the Lottery’s good causes – local police and firefighters’ pensions, the Teachers’ Retirement Fund, and the Lottery Surplus Fund (used in part to reduce excise taxes for Hoosier vehicle owners).
A winning ticket worth $2 million will expire today. The winnings must be claimed by 4:30 p.m. at Indy’s Hoosier Lottery Prize Payment office.
The Hoosier Lottery has said that the winning ticket in question came from the McClure Oil #53 on East Main Street in Russiaville. It was purchased in June.
This means that, if you have an old Powerball ticket, you might want to check and see if your numbers are 10-19-40-45-58.
When asked why certain tickets go unclaimed, Wade-Taxter did not have an answer. So, if you play, keep in mind that winnings must be claimed within 180 days of the drawings.
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