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
All the guest could say was, "I am never going to be able to talk to my wife again."
15 hours ago
The TikTok creator claimed that the brand is trying to gain attention, but some viewers disagree.
1 day ago
Harris made a last ditch attempt for the 'Holy Grail' item but it didn't go as he expected it to.
1 day ago
Jay Tope, who lost $75,000 earlier in the week, redeemed himself while playing with the star.
1 day ago
While the question was direct, the entrepreneurs kept beating around the bush.
2 days ago
Fans are posting videos of the game that they discovered at Costco retail stores.
2 days ago
Catherine also got some help from her mother who was sitting in the studio audience.
2 days ago
As David walked up to the host, Carey immediately noticed his clothes and said, "What a great shirt!"
2 days ago
Even the fans agreed that the answer to the puzzle was just too random for someone to guess.
3 days ago
The winner and the model astonished the audience and the host Drew Carey.
3 days ago
Even the show's expert was amazed to see the sculpture that was created by a famous painter.
4 days ago
Debra won the game "Master Key" which tests both the player's pricing skills and luck.
4 days ago
While Mr Wonderful wanted to close the deal quickly, the founder of Flipstik was hesitant.
4 days ago
The contestant had arrived with a t-shirt that had a request for a ride home and he got it.
4 days ago
Apart from the venture, the boy goes to school while his father is in medical sales.
5 days ago
The appraiser kept adding to the guest's astonishment by telling her how the basket's value could go up.
5 days ago
The duo got a little carried away leaving the host, Ryan Seacrest on the sidelines.
5 days ago
While many succumb to the pressure, a few elite contestants like Helen pull off stunning wins.
5 days ago
The player was also joined by her family on the stage and they came together for a group hug.
6 days ago
The host was already startled by another contestant talking about putting the boss to sleep.
6 days ago