One lottery winner discovered that waiting around is not just a virtue but also a way to lose half of your prize.
The jackpot has been reduced by a fee, but the American has won $5,000 for life.
In the New York Lottery’s Set For Life scratch-off game, North Tonawanda, New York resident Diana Harter won the $5,000 A Week For Life top prize.
The minimum payout for the lottery prize is guaranteed to be $5,000,000.
According to the New York Lottery, Harter chose the lump-sum payment option since she didn’t want the weekly wage.
Harter thus got $2,216,437 as a result of withholdings linked to a lump sum payment.
Though the choice could have allowed her to get millions today, the surcharge—not to mention Uncle Sam’s sizable share—cost her half of her profits.
The best course of action ultimately depends on how you intend to use the money and maintain your composure.
If she spends the earnings to earn additional money, the choice could prove beneficial.
After all, $5,000 a week could not be as profitable in the future due to inflation as it is now.
According to amortization.org, $5,000 in 1999 was worth $9,054.20, comparable to $5,000 now.
Her winnings in the future could have been worth less, nevertheless.
Lottery players can visit the National Council on Problem Gambling website or contact the National Gambling Hotline at 1-800-522-4700 if they are experiencing gambling addiction.
According to the New York Lottery, Harter bought the ticket at a 7-Eleven located at 460 Hertel Avenue in Buffalo.
The Set for Life ticket (#1548) still has three top prizes available.
Players can download the Game Report at nylottery.ny.gov to see the current status of any New York Lottery Scratch-Off game.
Harter had a great payoff, but the state is profiting far more.
In all, $4,406,338,198 was sold in New York’s scratch-off games for the fiscal year 2022–2023.
A portion of those proceeds were donated to worthy organizations.
During the same time period, Lottery Aid to Education funding of $63,082,337 was given to school districts in Niagara County.
There are plenty of winning tickets that have not been claimed, so Americans should keep their eyes on the prize.
There are currently four unclaimed lotto jackpots totaling more than $1 million.
Additionally, there is just one more chance for lottery participants to win a $25 million reward.
Consumers Beware: Major State Implements ‘Hidden’ Credit Card Surcharge; Are You Losing Money Unknowingly?
In order to contest prohibited fees when using credit cards, customers in one state have preserved their receipts.
One of the ten states with the highest population density prohibits credit card fees at retail establishments unless the business takes special action.
According to WRKR, a local radio station, brick-and-mortar stores in Michigan are prohibited from charging customers more for using credit cards.
Retailers have a gap in their defense.
Stores that display signage outside their locations may be able to charge customers for fees they get from credit card issuers.
Retailers that decide to pass the expenses on to customers are required by law to “post a notice at the store’s entrance and at the point of sale,” according to the state.
According to the law, “Sales receipts must itemize the exact amount of the surcharge.”
Customers using digital devices will need to go elsewhere to locate the fee on the website.
“Online sellers have to disclose that a surcharge will be imposed on the website page where credit cards are first mentioned,” the law stated.
For processing transactions, credit card issuers may charge retailers an additional fee.
The regulations originated from a class action lawsuit that raised concerns about the surcharge practice in 2013 and involved shops and credit card providers.
Retailers contended that they ought to be permitted to charge the customer the additional credit card costs; credit card firms countered that charging higher fees would discourage customers from using their products.
Michigan noted in the lawsuit’s final terms that fees on debit or pre-paid card purchases are prohibited by law.
“However, merchants can (and do) offer discounts for cash payments.”
Gas stations are subject to the same regulations; if the supplier indicates the difference in price between cash and credit card, customers may end up paying more at the pump.
According to the authorities, customers can get in touch with their banking institutions if they think they paid the fees in error.
Michigan said on the webpage: “You can submit concerns or violations to the corresponding credit card issuer online—Visa, Mastercard.” ”
Clients may also file a complaint with the office of the Michigan Attorney General.
In 2017, legislation was established barring gas stations from disguising the credit card price.
In order to maintain pricing transparency, the legislation mandates that stations display both prices with “equal illumination, in lettering of the same style and of at least ½ the size used to post the sale price.”
According to a report by The U.S. Sun, a large hotel chain has the ability to impose additional costs on its clients through hidden charges.
Additionally, phone companies may add this automatic fee to some bills.
