Thursday, May 25, 2023

Woman wins lottery prize where she would get $25,000 a year for the rest of her life, but prefers to receive a single payment of $270,000


After paying the relevant taxes, the woman was left with exactly $277,891.

Photo: Harun Ozmen / shutterstock

Audrey Woodard of Rocky Mount, North Carolina, decided to use her most important birthday to play the lottery. It turned out that this strategy awarded her $25,000 a year for life, although she would have preferred to receive more money in one payment.

“I play my birthday, my son’s birthday and his football jersey number,” Woodard told officials, according to the North Carolina Education Lottery.

The 61-year-old decided to try his luck on Lucky for Life game tickets, which cost just $2.

“I was so excited that I would drive my car and scream all the way to work,” Woodard said.

According to lottery officials, Woodard chose to take his prize as a lump sum rather than $25,000 per year for life.

After paying the relevant taxes, the woman was left with exactly $277,891.

This means that the woman received the equivalent of approximately 10 annual payments from one payment.

The woman said she plans to use her new fortune to retire from her job as a production operator next year. “I’m still trying to absorb it all. I told my family and they were as happy as I was,” said the lucky winner.

Woodard said he would also give some of the money to his family, pay for his car and make some investments.

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