AFTER a lottery player won $10 million on his scratch-off ticket, his choice led to losing almost half the prize.
Elio Chillo from Brooklyn, New York bought a Black Titanium scratch-off ticket for $30 at a food store called Lin’s Deli & Grocery.
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Prizes for the game range from $50 to $10 million for the top prize, and Chillo’s ticket landed him the lottery jackpot.
According to the New York Lottery, the odds of him winning $10 million were one in 3,598,330.
While he beat those steep odds, Chillo didn’t walk away with the full amount of money.
He had to give up almost half the prize when he claimed it thanks to his decision.
TWO CHOICES
Like every jackpot winner, Chillo had to settle with a choice for how to receive the lotto loot.
Both options provide benefits as one gives cash immediately while the other guarantees a steady income stream.
A one-time lump sum payment is reduced to a smaller amount of money given upfront.
The annuity choice can guarantee a larger payout while money is paid out over time, typically over two or three decades.
Some players opt for the lump sum to fund long-term investments.
The lump sum and annuity choices must adhere to state and federal tax withholdings.
In Chillo’s case, he decided to opt for a one-time lump sum payment of $6,122,400 after required deductions.
That means he gave up $3,877,600 by rejecting annuity payments.
LOTTO LOSS
Chillo joins all the other major lottery winners who were forced to make a tough decision regarding their victory.
Another Black Titanium scratch-off player from North Carolina won $4 million and had to fork over a chunk of the prize.
Top lottery winners in the US
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Millions dream of winning the lottery and finding fame and fortune. These are the biggest winners in US lottery history.
- Edwin Castro– $2.04 billion, Powerball, Nov. 8, 2022, in California.
- Theodorus Struyck– $1.765 billion, Powerball, Oct. 11, 2023, in California.
- Unknown winner – $1.602 billion, Mega Millions, Aug. 8, 2023, in Florida.
- Marvin and Mae Acosta from Los Angeles, California, John and Lisa Robinson from Munford, Tennessee, and Maureen Smith and David Kaltschmidt from Melbourne Beach, Florida – $1.586 billion, Powerball, Jan. 13, 2016.
- Unknown winner – $1.537 billion, Mega Millions, Oct. 23, 2018, from South Carolina.
- Unknown winner – he sued the mother of his child to keep his identity hidden – $1.348 billion, Mega Millions, Jan. 13, 2023, from Maine.
- Unknown winner – $1.337 billion, Mega Millions, July 29, 2022, from Illinois.
- Unknown winner – $1.326 billion, Powerball, April 7, 2024, from Oregon.
- Yanira Alvarez– $1.08 billion Powerball, July 19, 2023 in California.
- Wolverine FLL Lottery Club – $1.05 billion, Mega Millions, Jan. 22, 2021, from Michigan.
- Unknown winner – $842.4 million Powerball, Jan. 1, 2024, from Michigan.
Carissa Jones said she started crying when she realized she was a lottery winner.
She chose the lump sum option for her prize, leaving her with $2.4 million instead of $4 million.
The winner told North Carolina Lottery officials she plans on using the money to build her dream home.
Jones also said she wanted to donate some of the money to her church and called the win, “a big blessing.”
For more related content, The U.S. Sun covers stories on Mega Millions and Powerball news.
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Remember to gamble responsibly
A responsible gambler is someone who:
- Establishes time and monetary limits before playing
- Only gambles with money they can afford to lose
- Never chase their losses
- Doesn’t gamble if they’re upset, angry, or depressed
If you or someone you know is struggling with gambling addiction, call the National Gambling Helpline at 1-800-522-4700 or visit the National Council on Problem Gambling online.