Man hits lottery jackpot — then comes a tough decision about claiming his NC prize
A North Carolina lottery player hit the jackpot — then came a tough decision about claiming his $1 million prize.
Donald Ledford was presented with the option of taking the winnings in a one-time lump sum of $600,000. But instead, he said he chose the annuity, meaning he will receive the $1 million prize in smaller payments over the next two decades.
“It’s like winning $50,000 twenty times,” Ledford told the N.C. Education Lottery in a Jan. 25 news release. “Now we can enjoy this for many, many years.”
Ledford scored the lucky win after a stop in the popular mountain tourist destination of Asheville. At the Fastrac Food Mart, officials said he spent $30 to play the Millionaire Maker game.
It turns out, the scratch-off ticket beat 1-in-359,698 odds to win the game’s top prize.
“We thought for a long time about the annuity or the lump sum,” Ledford told lottery officials, adding that he spoke to a lawyer and a financial adviser.
But Ledford eventually chose the annuity and received his first payment, which totaled $35,759 after taxes. He will take home a prize each year through 2044, according to the N.C. Education Lottery.
“I really didn’t believe it until I got here,” Ledford said as he cashed in.
Ledford, who is from the Haywood County town of Canton, plans to put his prize money toward his house.
Though the lottery didn’t share exact figures with McClatchy News in an email, it said taking a prize as an annuity is “pretty rare” for winners.
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If you or a loved one shows signs of gambling addiction, you can seek help by calling the national gambling hotline at 1-800-522-4700 or visiting the National Council on Problem Gambling website.
This story was originally published January 26, 2024 at 10:48 AM with the headline "Man hits lottery jackpot — then comes a tough decision about claiming his NC prize."
