Lottery players have been urged to double-check their tickets this month as six-figure sums are at stake in one state.

The at least three as yet unidentified winners are running out of time to come forward before the money expires and is redistributed elsewhere.

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Delaware Lottery officials are searching for residents who purchased the three Powerball tickets for drawings last year at convenience stores.

The first and oldest unredeemed ticket of the three is worth $50,000.

According to the Delaware Lottery website, it was purchased for a drawing on September 30, 2023.

The drawing results included the six numbers 19, 30, 37, 44, 46 and a red Powerball with the number 22.

The player matched four white balls and the red Powerball, winning a Match 4 Plus Powerball prize and earning a total of $50,000.

Officers determined the ticket was purchased at a Wawa convenience store and a gas station.

Because the Delaware Lottery allows a one-year window for claiming winnings, the player has until September 30, 2024 to receive their $50,000.

Because the amount is over $5,000, the winner must also pick up the prize pool at the Delaware Lottery headquarters in Dover.

GONE FOREVER

If they don’t respond in time, the money will be redistributed to two locations, according to the Delaware Lottery.

At least 50% or more of the funds are reinvested in lottery games so other players can win, and 30% goes to the state’s general fund.

The same rules apply to the other two Powerball winners in Delaware whose prize pools were not claimed.

A player in the March 9, 2024 drawing also purchased his winning Powerball ticket at a supermarket – Shore Stop.

They also won a Match 4 plus Powerball for a $50,000 prize pool and had one year to claim their money.

The same goes for the third player, who won $150,000 in the April 20, 2024 drawing but chose a Power Play option to increase his total winnings.

Lottery win: lump sum or pension?

Players who win big in the lottery are usually faced with a decision: lump sum payment or pension?

The two withdrawal methods can affect how much money you receive from your winnings.

Pensions are paid out slowly and in installments, often over 30 years.

With lump sums, everything is paid out at once, but in a smaller amount because taxes are withheld all at once. This means that 24% of your winnings go to Uncle Sam immediately. Many states also tax winnings.

Annuities can give winners time to build the financial infrastructure needed to receive a life-changing sum of money, but lump sums have the advantage of being taxed only once.

Inflation should also be considered when making decisions, as payouts do not adjust to the value of a dollar. This means you are likely to receive less valuable money toward the end of an annuity.

Each state and game pays out prizes differently, so it’s best to check with your state’s lottery to confirm payout policies. A financial advisor can also help you weigh the pros and cons of each option.

Experts have differing opinions on the question of whether one should opt for a lump sum payment or a pension.

NOW OR LATER?

With a total of $250,000 on the table, it is unclear whether players will meet their respective deadlines.

In this case, they are faced with the most important decision in the lottery winning process: how to receive the money.

Players can choose whether they want to receive the money in one lump sum or spread it out in pension payments over several years.

When lump sum distributions are made, significant taxes are deducted from the money.

The federal government imposes a 24% tax on all lottery winnings over $5,000, and fortunately for Delaware residents, unlike many other states, there is no tax on winnings.

Players in California should also double-check their tickets in August, as an unclaimed $1 million prize was sold at a supermarket.

Arizona also has prizes worth at least $200,000, but the winners have not yet been determined.