Mega Millions warning as $1 million prize remains unclaimed – and the ticket was sold at a popular store

MEGA Millions players have been urged to check their numbers as a $1 million prize is up for grabs.

Lotto chiefs are hunting for the winner after the ticket was bought at a store that sells tobacco items.

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A Mega Millions ticket worth $1 million has been sold in New York (stock)[/caption]

Bosses revealed that the ticket was bought at Smokes 4 Less located in Newburgh, New York ahead of the draw on October 1.

The store has a track record of success with vendors selling lotto tickets worth millions to shoppers.

Last year, the smokes shop sold a $2 million Powerball ticket as well as lotto slips worth $1 million, per the ABC affiliate WABC.

They agonizingly missed out on the life-changing Mega Millions jackpot by just one number.

But they are in line to receive a tidy $1 million prize for matching five numbers, defying odds of one in around 12 million.

The player doesn’t face an immediate rush as they have one year to claim their prize money.

Lottery lawyers have recommended what winners should do before coming forward.

John Phillips, an attorney, warned players should put their tickets in a waterproof and fireproof location.

He also advised players to sign the back of their tickets.

Then, they shouldn’t talk about their fortune until they actually claim their prize.

He urged winners not to brag about their newfound wealth or post images of the winning slip on social media.

In fact, he said winners should shun the limelight.

Because no player managed to scoop the jackpot, the sum rolled over and now stands at an estimated $108 million.

The total has a cash option of an estimated $53.8 million.

If the jackpot is won, then the player could end up having a tricky decision to make.

They can either receive their prize as a lump sum or in the form of staggered payments, which is known as the annuity.

The lump sum route is the more popular option and has been taken by winners such as Edwin Castro, but it’s not necessarily the best path to go down, according to some lotto lawyers.

Andrew Stoltmann told The U.S. Sun that players who take the lump sum are making a mistake.

Financial adviser Robert Pagliarini also echoed these concerns.

“Lotto winners would be far better off if they chose the annuity,” he told The U.S. Sun.

He warned that one of the big drawbacks of taking the lump sum is that winners only have one chance of making their prize last.

Lottery winnings: lump sum or annuity?

Players who win big on lottery tickets typically have a choice to make: lump sum or annuity?

The two payout methods can impact how much money you get from your prize.

Annuities pay out slowly in increments, often over 30 years.

Lump sums pay all at once but in a smaller amount, as taxes are withheld in one go. That means 24% of your prize goes to Uncle Sam right away. Many states tax winnings as well.

Annuities can provide winners time to set up the financial infrastructure required to take in a life-changing amount of money, but lump sums have the benefit of being taxed only once.

Inflation is also worth considering when making a choice, as payouts do not adjust with the value of a dollar. That means that you’ll likely be getting less valuable money towards the end of an annuity.

Each state and game pays out prizes differently, so it’s best to check with your state’s lottery to confirm payment policies. A financial advisor can also help you weigh the pros and cons of each option.

Experts have varying opinions on whether to take the lump sum or take the annuity.