ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / NEWS

California man wins $44 million Powerball jackpot — he hasn't seen a single dime of it in months

A representative of the California State Lottery cited the large number of claims that they process as a reason.
PUBLISHED NOV 5, 2024
Customers waiting to buy lottery ticket at a store | Cover Image Source: (Photo by Scott Olson/Getty Images)
Customers waiting to buy lottery ticket at a store | Cover Image Source: (Photo by Scott Olson/Getty Images)

Anyone who hits a jackpot worth millions is expected to be splurging on luxury housing, flashy cars, and holidays, but things don't work that smoothly for everyone. A California lottery fanatic recently came forward and claimed that he hasn't yet seen a single dime, two months after he won the Powerball jackpot worth $44 million. Jerry, a longtime lotto player, said that he tried his luck in August and purchased a ticket with his lucky number 1 in southern Orange County to become the sole winner of the top prize.



 

The winning numbers were 1, 2, 15, 23, 28 and the red Powerball 10. "It was exciting in a subtle way because you don’t anticipate ever hitting all six. Six numbers on the Powerball is … the odds are you’ll die before … You’ll walk out and get hit by lightning before you win that one," Jerry told KABC. The chances of winning the jackpot are slim at just 1 in 292,201,338, but the man clinched it.

 Forms to pick numbers for Powerball | (Cover Image Source: Getty Images | 	Joe Raedle )
Forms to pick numbers for Powerball | (Image Source: Getty Images | Joe Raedle )

Since the day he won the jackpot, Jerry has been waiting and growing impatient by the day to get his hands on the winnings. The new millionaire has finally lashed out against the slow verification process in place to ensure that the lottery prize goes to the rightful owner. "The process is horrible for a winner of a big … any big lotto winnings," he said. "They won’t tell you ‘By this date, you’ll get the funds.' They won’t tell you that. They leave it open-ended so you’re sitting, waiting daily," he added hoping to get the funds.

To be fair, this doesn't happen often and typically winners get to enjoy their reward within four weeks. However due to complicated processes, it does take time in some cases, Carolyn Becker, Deputy Director of Public Affairs and Communications for California State Lottery, told the New York Post. “California Lottery processes, believe it or not, 10,000-plus claims a month, so we want to manage the expectations of our winners,” she added.

When a person wins a jackpot, there are three scenarios that they can expect. Firstly, the small prize winners can expect to be paid out immediately. Secondly, people who win the mid-range prizes typically get paid on the next working day. However, in the case of jackpot prizes things can take more time. When somebody wins a jackpot, and isn't around to claim it in person, they worry if they are going to lose out on the winnings. However, the lottery states give people at least up to a year to claim the prize. Note that the claiming period does vary from state to state depending on the regulations.

Powerball play slips are displayed in a convenience store | Getty Images | Photo by Mario Tama
Powerball play slips are displayed in a convenience store | (Image Source: Getty Images | Photo by Mario Tama)

Winners can also choose to get the money in their bank even though some lotteries will expect winners to go down to the office and collect the winnings in person. Among other things, it's advisable to make copies of the winning tickets and hire appropriate professionals. Additionally, financial advisors also recommend keeping the news as private as possible.

MORE ON MARKET REALIST
U.S. Trade Representative launched Section 301 probes into unfair trade practices of 60 countries
9 hours ago
The Customs and Border Protection said the four-part refund system will be operational in a few weeks
14 hours ago
Jeopardy! threw indirect shade at the actor for saying no one cares about Ballet and Opera .
1 day ago
Harvey, in his wildest imagination, couldn't believe the answer was popular.
1 day ago
The host couldn't believe his eyes when the answer showed up on the board.
1 day ago
David Malpass told Fox Business that U.S. energy independence will be crucial for growth measures
2 days ago
Sen. Rick Scott has proposed 'American Dream Accounts' that would help people save for a home.
2 days ago
The nonpartisan fiscal watchdog CFRB has warned that the U.S. may be heading blindly into the next crisis.
2 days ago
Anthropic CEO Dario Amodei explains if AI models can actually go rogue and rebel against humans.
2 days ago
By the end of the game, Harvey was left wondering what he had just heard.
2 days ago
Senator Cory Booker is set to introduce the new tax with the aim to curb the cost-of-living crisis
3 days ago
Illinois is looking to setup Newborn Equity Support Transfer program to help mothers with childcare
3 days ago
Harvey was disappointed with the players who couldn't come up with the most obvious answers.
3 days ago
Some of the answers were too bizarre even for the seasoned host, Steve Harvey.
3 days ago
While the host fumbled the card, it had just enough for Brenda to win a brand new car
6 days ago
The nonpartisan fiscal watchdog revised its estimates to add $2 trillion to its earlier projection.
6 days ago
Chevron president Andy Walz urged the state's regulators to review their climate policy.
6 days ago
Harvey looked like he had enough as yet another question popped up, targeting him on the show.
6 days ago
Frito-Lay has recalled certain bags of its popular Miss Vickie's Dill Pickle Potato Chips
6 days ago