A woman in Virginia has won the lottery twice in the space of a few years, raking in over a million dollars in life-changing cash prizes.
Two-Time Lottery Winner
In a display of incredible luck, a Virginia woman has won the local lottery for a second time, just a few years after her first win.
$1.1 Million in Prizes
The Virginia Lottery issued a press release celebrating the twice-blessed winner, sharing that she won $100,000 in a scratch-off ticket before winning $1 million in another game.
The Moment It Happened
“I just kind of screamed!” she said, explaining the fortunate moment to lottery officials. “We were all in there screaming!”
Extraordinary Luck
The win was an extraordinary stroke of luck for the winner, who decided to buy a Virginia Millions scratch-off game on a whim while stopping at the Race Way station in Isle of Wight County.
She Didn’t Believe Her Luck
When she asked the cashier to check the ticket, they explained she had won as much as $1 million in prize from the scratch ticket.
Causing a Commotion
Her celebration reportedly caused such excitement that other customers inside and outside of the store checked what was going on.
Keeping It to Herself
“We said, ‘Nothing!’, and we got really quiet,” she said, referring to herself and the cashier and store owners who encouraged her not to tell anyone before she had collected her prize.
Second Big Win for Guishard
This is the second big lottery win for the winner, who is no doubt causing envy among friends, family, and acquaintances with her astounding winning streak.
$100,000 Back in 2021
The Virginia Lottery confirmed that the prize winner had also received $100,000 from a 2021 New Year’s raffle.
Technicalities for the Winner
However, despite officially winning $1 million in prizes, certain technicalities meant that the winner could not collect the full prize.
Two Options
Instead, she was given the option of cashing out just $571,000 before taxes in a one-time reward or collecting $1 million before taxes in annual payments.
30 Payments, 30 Years
In the latter case, she would collect approximately one $30-35,000 payment every year for 30 years. Presumably, a significant portion of these funds would be lost to inflation over this period.
A Difficult Choice
This is not uncommon at all in the U.S. and is a tricky decision that has to be made by lottery winners across the country.
Wait, There’s a Catch
And while the former case may seem more immediately convenient if you want to spend your prize money on a big-ticket item, there is a catch.
A Big Cut for the Government
Because they are collecting such a large amount in one go, they will lose as much as 24% in federal taxes. A 5% cut will also be given to the Virginia Lottery Department.
The One Payment Option
She chose to opt for the first choice, taking home $571,000 in pre-tax winnings, and leaving $429,000 worth of winnings behind.
Station Owners Win Too
The prize winner and the Virginia Lottery Department aren’t the only ones walking away from the scratch game on top – the owners of the Race Way station will also be given a $10,000 reward for selling the winning ticket.
One Very Lucky Woman
The winning story has left many stunned by her incredible luck, as according to the Virginia Lottery Department the odds of winning even one major prize are incredibly slim.
Extremely Slim Odds
In their statement, they shared that while the odds of winning any kind of prize in Virginia Millions is 1 in 3.5, the odds of winning the $1 million prize is only 1 in 612,000.
No Plans Shared Yet
As of yet, she has not shared how she plans to spend her winnings.
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The post Virginia Woman Wins Lottery Twice, Bags Over $1 Million in Jackpots first appeared on From Frugal to Free.
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The content of this article is for informational purposes only and does not constitute or replace professional financial advice.
