So You Think You Know How the Lottery Works?
How does the lottery work? Suppose you’ve struck gold with the winning ticket in your hands. You’d expect you’ll be given your winnings right away, right? Not really. If you’ve won $599 or less, you can just get your cash prize from the place you purchased the ticket itself. Larger jackpots, though, like the one Marie Holmes managed to hit, require a longer process.
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The state’s lottery board needs to verify the ticket – which means paperwork! Then, there is a waiting period you have to sit through before any of the funds can be transferred to you. And finally, you must decide if you want to receive your winnings in installments over 30 years, or if you want a smaller lump sum.