Lottery winner scoops $487k prize on $1 ticket – but choice cost him a third

 A LUCKY winner experienced a life-changing moment that most only dream about – turned $1 into hundreds of thousands. 

Jack Dixon of North Carolina took a chance on a $1 lotto ticket and his luck paid off when he won an impressive $487,750 jackpot on Monday. 

On Tuesday, Dixon made his way to lottery headquarters to claim his prize, the North Carolina Education Lottery said in a release.

The odds of matching all five white balls in the Cash 5 game are a daunting 1 in 962,598, making Dixon’s win extraordinary luck. 

After the necessary federal and state tax withholdings, he walked away with $348,743. 

Dixon quickly had to say goodbye to a major portion of his winnings. 

However, the large sum of cash is sure to bring significant changes to Dixon’s life.

Dixon’s journey to fortune began with a simple Quick Pick Cash 5 ticket purchased through Online Play, a convenient feature offered in the state. 

Cash 5 is just one of six lottery games in North Carolina, offering players the flexibility to purchase tickets online or on the app. 

This modern convenience allows players like Dixon to try their luck from the comfort of their own homes. 

The win not only marks a personal milestone for Dixon but also highlights the allure of the online game. 

As of Tuesday, the next Cash 5 jackpot stands at $100,000, a tempting prize for those looking to follow in Dixon’s footsteps. 

TAXED

Anyone who plays North Carolina’s lottery will have to pay the state tax of 5.25%.

This is where a portion of Dixon’s cash went.

Dixon also had to pay the federal lottery tax which is 24%, which anyone who wins a large jackpot has to pay. 

Sadly, winning the lottery comes with paying up tax-wise.

There are thousands of stories of people losing a large sum of their original winnings.

Top lottery winners in the US

Millions dream of winning the lottery and finding fame and fortune. These are the biggest winners in US lottery history.

• Edwin Castro – $2.04 billion, Powerball, Nov. 8, 2022, in California.
• Theodorus Struyck – $1.765 billion, Powerball, Oct. 11, 2023, in California.
• Unknown winner – $1.602 billion, Mega Millions, Aug. 8, 2023, in Florida.
• Marvin and Mae Acosta from Los Angeles, California, John and Lisa Robinson from Munford, Tennessee, and Maureen Smith and David Kaltschmidt from Melbourne Beach, Florida – $1.586 billion, Powerball, Jan. 13, 2016.
• Unknown winner – $1.537 billion, Mega Millions, Oct. 23, 2018, from South Carolina.
• Unknown winner – he sued the mother of his child to keep his identity hidden – $1.348 billion, Mega Millions, Jan. 13, 2023, from Maine.
• Unknown winner – $1.337 billion, Mega Millions, July 29, 2022, from Illinois.
• Cheng and Duanpen Saephan, and Laiza Liem Chao – $1.326 billion, Powerball, April 7, 2024, from Oregon.
• Yanira Alvarez – $1.08 billion Powerball, July 19, 2023 in California.
• Wolverine FLL Lottery Club – $1.05 billion, Mega Millions, Jan. 22, 2021, from Michigan.
• Unknown winner – $842.4 million Powerball, Jan. 1, 2024, from Michigan.

Another North Carolina lottery winner Donald Chenier, won $100,000 on a $5 ticket.

But he lost nearly $30,000 to federal and state taxes. 

In another jackpot story, a dad and son from Kentucky won $1 million but didn’t get to keep half of the money. 

They chose the lump sum which left them with $700,000 of the jackpot winnings.

After taxes, the Kentucky family was left with $504,000.