Powerball Jumps to $550 Million

Illinois Lottery Offers Tools for Winners and Office Pool Players


For Immediate Release Contact: Chanele Newton (312) 368-5814

 

Chicago, IL—May 16, 2013 — With the Powerball jackpot now at well over half-a-billion dollars—an astounding $550 million (cash value $350.1 million), and Mega Millions standing at $190 million (cash value $140 million), there’s one conversation taking place across Illinois: What would I do with that kind of money? A lottery win of this magnitude is a life-changing event that can be made even more enjoyable by exercising common sense and thoughtful planning.

Toward that end, the Illinois Lottery offers winners guidance via its Winners’s Handbook available on the Lottery’s website, illinoislottery.com. This document helps people navigate the lottery claims process and other areas that await a new lottery winner.

The Winner’s Handbook offers sound advice on building a team of professional advisors, screening potential financial planners, and handling requests for donations. The site contains answers to Frequently Asked Questions regarding tax withholdings, and other topics of interest to winners.

“The Winner’s Handbook offers something to everyone who wins a substantial Lottery prize,” said Lottery Superintendent Michael Jones. “Winning the Lottery is an exciting experience, but many people don’t know where to begin to assemble a team of financial and legal advisors. The handbook’s tips are designed to make claiming a large lottery prize a smooth and enjoyable process.”

Jones said players should sign the back of their tickets as soon as they buy them (Lottery tickets are bearer instruments). And, if they are playing in an office or lottery pool, copies of tickets purchased for the group should be provided to everyone prior to the drawing. Visit the Group Play page on the Lottery’s website to review:

Acquiring a large sum of money opens a whole new set of responsibilities. Building a smart foundation and making informed, responsible decisions helps winners get the most from their Lottery windfall.

QUICK POWERBALL FACTS

QUICK MEGA MILLIONS FACTS

 

About Illinois Lottery

Founded in 1974, the Illinois Lottery has contributed $17.5 billion to the state Common School Fund to assist K-12 public schools, as well as the Capital Projects Fund. Players must be at least 18 years old. Play responsibly.

 

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