Unclaimed lottery money may seem a myth to many of us. Most of the jackpots are still searching for their rightful owners. Unclaimed lottery wins have been on a constant rise throughout the year as the figures suggest. Illinois has reported an approximate of $14 million dollars whereas the regions of Indiana, Massachusetts, and Georgia have reported average unclaimed lottery win worth $45 million dollars.
The piles of unclaimed money from lotteries are increasing at an alarming rate as the people who have been extra conscious in managing their finances have still lost plenty in the form of unclaimed lottery money. Unclaimed lottery money is one of the simplest ways by which you can improve your finances because there have been many cases of unclaimed lotteries in the states that resulted in millionaires.
Winning a lottery may be a dream for many but not claiming the prize money is more of a nightmare not only for you but also for the agency who manages these funds. As per the figures released by National Lottery, on an average $68 million dollars are lying unclaimed because they do not check their numbers, which means in 17 years the National Lottery has accumulated approximately $1.1 billion dollars.
The period or the validity of a Lottery Ticket depends on the state you are in for instance, a ticket in the east coast states of New York, Connecticut and New Jersey offer period of one year as validity for claiming the prize money whereas some states may even offer validity in months. If you are into lotteries on a regular basis then, the best way to keep up on the unclaimed lottery money is by watching live draws on television in which you can confirm the winning numbers against yours. These simple steps can assist you in keeping the prize money to yourself rather than searching for it later.
Every lottery may be different in terms of prizes but some formalities with the unclaimed prizes are similar as the unclaimed money of the lottery may go back into the prize pool, or the corporation may utilize the money for social activities like education.
Powerball is one of the biggest lotteries in the United States. In case of Lotto 649, which is one of the biggest lotteries of Canada, the unclaimed lottery win goes back to the prize pool rather than the provincial lotteries who are participating.
This unclaimed lottery money can prove very beneficial for those who are looking forward to improve their finances as these amounts are increasing at an alarming rate. The above-mentioned information in the article is enough to make you aware of the importance of this unclaimed prize money and its impact on the finances of an individual.