Iowa man claims largest Lotto America jackpot at $40 million

Comment #10

CDanaT — Wed, 12 Apr 2023 11:55:42 GMT

It's all a marketing gimmick MG.... Look on the TN lottery website, for example....

https://tnlottery.com/ The first 3 you see are PB.......MM.....LA

See anyplace on there that gives you the actual Cash Value for those 3 games ??

IMHO, President Rebecca Paul Hargrove and her minions don't even have the integrity to post the cash value....Ever look on the back of a $20 TN scratchoff ? Paid out over 25 years .....no mention of anything else........Pay attention to this, while someth... [ More ]

Comment #9

TheMeatman2005 — Tue, 11 Apr 2023 19:33:08 GMT

This will help you understand better: How-to-Play/Difference-Between-Cash-Value-and-Annuity.aspx

Difference Between Cash Value and Annuity

If you win a Mega Millions jackpot, you will choose how to be paid: Cash Option or Annual Payout. Prize claim parameters vary from state to state. Contact your Mega Millions lottery for detailed information.

Annuity option: The Mega Millions annuity is paid out as one immediate payment followed by 29 annual payments. Each payment is 5% bigg... [ More ]

Comment #8

Clarkejoseph49 — Tue, 11 Apr 2023 18:16:30 GMT

Onto the next Jackpot winner for Iowa.

They've now had three Jackpot winners in the $2 PowerBall since 2012.

Two Lotto America Jackpot winners.

But they are still yet to have Mega Millions Jackpot winner. (Maybe tonight and if only one ticket in Iowa wins this, they'll be the biggest Jackpot winner in Iowa State Lottery history

Comment #7

noise-gate — Tue, 11 Apr 2023 16:58:52 GMT

* Think that's dreadful MG, l read where our $2 billion lottery winner from CA ended up with a little over 1/2 billion take home when the dust settles. Uncle Sam put a chainsaw to Castro's winnings.

Comment #6

Tony Numbers — Tue, 11 Apr 2023 16:51:09 GMT

It's trickery MG. The advertised jackpot is what you win over a 25 year period. It's to Thier advantage to pay it out that way. The lump sum is what the annuity would cost for the 25 years.( Only makes sense if your young.) Majority take the cash value, half the advertised jackpot.

Comment #5

Mata Garbo — Tue, 11 Apr 2023 16:15:52 GMT

They took almost 50% of his winnings before he ever got his hands on it. I will never understand the reasoning behind punishing a player just because they would prefer to collect their winnings now instead of a 25-year annuity. I'm sure they have their reasons, but I have not heard any that makes sense yet. Congrats to Earl.

Comment #4

sully16 — Tue, 11 Apr 2023 16:08:59 GMT

Congrats to the lucky guy, enjoy.

Comment #3

CDanaT — Tue, 11 Apr 2023 13:59:15 GMT

Congrats Earl ....Be cautious and enjoy for many years to come.

Comment #2

Tony Numbers — Tue, 11 Apr 2023 13:00:45 GMT

Whenever someone wins big they are always expected to give, and the vultures come out and try to take. It's best to not know what ones intentions are. They can say anything they want, doesn't mean they'll adhere to it.

Comment #1

winterhug — Tue, 11 Apr 2023 11:54:59 GMT

It is great he won $40M and takes home $15M after taxes. He says he will give to family and charity but he says nothing about giving to his childhood best friend. Oh well...

Iowa man claims largest Lotto America jackpot at $40 million

Lottery Post — Tue, 11 Apr 2023 11:27:58 GMT

Lottery winner claims biggest Lotto America prize in history

Includes video report

By Kate Northrop

An Iowa man claimed the largest Lotto America jackpot in the game's history a prize of $40.03 million.

Earl Lape, of Dubuque, is the winner of the biggest Lotto America prize ever, and despite thinking it was just an April Fool's prank, it was no joke.

On Monday, Lape was greeted with confetti, fanfare, and a warm welcome from Iowa Lottery staff upon his arrival at Lottery head... [ More ]