A LOTTERY player has landed a million-dollar win but saw a massive chunk of the cash vanish almost instantly. John Stanhill, from Jacksonville , took a chance on his state's popular game in May and brought home a life-changing prize pot. The winner, 46, got lucky on the 500X The Cash game, which costs $50 per ticket.
"This just couldn’t have happened at a better time!” John told Florida Lottery. "I'm still freaking out." The win comes just weeks after the birth of his son.
“We won the lottery – and then we won the lottery again with our beautiful, healthy baby boy!” he added. “All in three weeks’ time!” However, John didn't get to keep the full $1,000,000. Like all big lotto winners, he was forced to choose between taking the full prize over time with annuity payments or receiving a smaller amount up front as a lump sum.
That means he walked away with $640,000. The Floridian purchased the life-changing ticket at an Exxon in Jacksonville Beach. 500X The Cash has a top prize of $25 million, which is the largest ever offered in a Florida scratch-off game.
According to Florida Lottery, it offers "the best odds to become an instant millionaire." The game's overall odds of winning any prize are 1 in 4.50.
Andrew will have to pay taxes on the remainder of his $1,000,000 prize. The IRS deducts 24% in federal taxes on lottery winnings. Luckily for him, Florida is one of several states that does not collect income tax on lottery prizes.
If he were in New York, he would .
