$11 Million Jackpot Hit By One Denver Ticket
$11 Million Jackpot Hit By One
The ticket was purchased at the 7-Eleven at 7270 Broadway in
The person who holds this winning ticket should sign the back of the ticket immediately because lottery tickets are bearer instruments, meaning that whoever signs the ticket has the legal right to that ticket. The person has until April 6, 2009 to claim the prize.
If the winner chooses the annuity option, the prize will be paid out in 25 installments. The first payment would be 2.5 percent of the jackpot share, and then increase by 3.7 percent each year after that. In these uncertain economic times, it may be nice to know the Colorado Lottery guarantees annuity payments, regardless of what happens to the institution that owns the annuity. The cash option would be paid in one lump sum. Both prizes would be subject to taxes – 25 percent Federal and 4 percent State.
At $11 million, the Lotto jackpot was the biggest won since September 11, 2002, when two lucky winners, the Davis Family Trust of Arvada, and Michael Menard of
The probability of winning the jackpot is one in 5,245,786. Lotto drawings are held twice a week, each Wednesday and Saturday, in
Proceeds from the Colorado Lottery’s games - Scratch, Lotto, Powerball and Cash 5 - stay in