We’ve not quite reached the silly season of Michigan Lottery millionaires tickets, but with each passing week, we appear to be getting close.
How else does one explain the fourth million-plus scratch-off ticket winner announced within a week’s span, as the lottery rolled out on Friday?
You’re still not too late to potentially get in on your chances at a seven-figure score, but time has to run out at some point. … Or does it?
Wayne County woman’s financial weight lifted
The Red Hot Millions scratcher ticket was the source of the latest life-changing moment in Michigan this time.
A 60-year-old woman, who case to remain anonymous, went to Mike’s Beverage Warehouse in Taylor to purchase the $10 ticket that led to her big-time cash-in.
“I scratched the ticket off and just kept thinking that what I was experiencing couldn’t be real,” the woman told the Lottery. “I have played instant games for years, and never really expected to win this much. It’s stunning!”
As has been the recent trend with jackpot scores, this player chose to receive her prize as a one-time lump sum payment of about $634,000 rather than 30 annuity payments for the full amount. With her winnings, the woman plans to pay off her home and help her husband retire early.
“Winning has lifted a weight off my shoulders, and means I can enjoy the time I have left here with my family,” she said.
Michigan Millionaire odds decreasing … in theory, anyway
Players have now won more than $25 million playing Red Hot Millions, which launched in March. Each $10 ticket offers players a chance to win prizes ranging from $10 up to $1 million. More than $25 million in prizes remain, including two top prizes of $1 million and 51 $2,000 prizes.
In the meantime, the overall number of millionaires on Michigan Lottery tickets in the state with scratcher or multistate lottery games (such as Powerball or Mega Millions) in 2021 is coming closer to 40. And 48 such winners were unearthed in all of 2020.
So, it is time to sprint after those million-dollar possibilities? Certainly, your mathematical odds decrease with each prize announced. But there clearly are more winning stories out there.
And, if you happen to be the next lucky millionaire in Michigan, take the precautions you need to keep your money and spending habits in order. Secure the ticket, then contact an attorney and a financial adviser.
Those professionals can help protect your identity, smartly grow your money and make sure you understand the tax system.