A SCRATCH-off player barely believed it after winning $1 million, but she didn’t become a full millionaire.
Gayla Guishard raised commotion when she bought a Virginia Millions lottery ticket at a gas station.
Virginia Millions, a scratch-off game that debuted in November 2023, sells tickets for $20.
Store owners confirmed Guishard’s ticket was a $1 million winner, as per the Virginia Lottery.
“I just kind of screamed!” she told lotto chiefs. “We were all in there screaming!”
This also isn’t Guishard’s first time she became a lottery champion.
According to the Virginia Lottery, she won $100,000 in a New Year’s raffle in 2021.
Guishard didn’t get to keep the entirety of her most recent prize, and it all came down to her choice.
LUMP SUM
Many lottery winners across the US must make a tough decision on how to collect their winnings.
They can either take a one-time, lump-sum payment they receive immediately or claim their prize in gradual annuity payments.
While the first option is more tempting than the letter, there’s a catch.
A portion of the one-time payment gets cut, and more money is withheld through state or federal tax deductions.
In Guishard’s case, she ultimately opted for the one-time cash option, which left her with $571,000 before taxes.
That’s a whopping $429,000 she left on the table, whereas she could’ve taken the $1 million in annual payments over 30 years.
Virginia’s lottery department also withholds 4% of lottery prizes over $5,000.
Another blow comes from federal taxes, which take 24% of all lottery prizes exceeding $5,000.
STORE REWARD
Despite Guishard not getting to take home the full $1 million, her winning ticket earned the lottery retailer another prize.
The store received a $10,000 bonus for selling the ticket to her.
Guishard also isn’t alone in her choice to grab the one-time payment.
Another lottery winner from New York was ecstatic when she won $1 million from a Holiday Treasure scratch-off ticket.
Her choice to get the lump sum left her with $475,230 after taxes were deducted.
Playing the lottery is a form of gambling and addiction risks are inherently linked.
If you deal with a gambling addiction or know someone who does, call the National Gambling Hotline at 1-800-522-4700 or visit the National Council on Problem Gambling website.
Another two-time lottery winner was in awe when they won $110,000 but couldn’t keep it all.
Also, a lottery ticket worth $52,000 was bought in Florida and remains unclaimed.