Urgent Powerball warning to check numbers as $1m prize remains unclaimed – and ticket was bought at a grocery store

POWERBALL players have been urged to double-check their tickets as a $1 million prize still hasn’t been claimed.

South Carolina lotto officials revealed the lucky slip was bought at a renowned chain store.

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A Powerball slip, worth $1 million, hasn’t been cashed in (stock)[/caption]

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The ticket was bought at a Publix supermarket in South Carolina[/caption]

One player bought the lucky slip at a Publix supermarket ahead of the October 5 draw, according to The State.

There are more than 60 Publix stores across the state, but this ticket was bought at an outlet in Mount Pleasant.

The player matched five numbers and narrowly missed out on the top prize, which was estimated at $295 million at the time.

They may have missed out on the bumper sum but still took home a tidy $1 million.

The player defied odds of around one in 11.7 million to match five numbers.

But they don’t have a rush to claim their prize as the deadline to come forward in South Carolina is 180 days.

Lotto chiefs urged the player to sign the back of their ticket.

The Powerball jackpot has not yet been won. It has rolled over to $364 million ahead of Saturday’s draw and an estimated cash value of $179 million.

To win the jackpot, gamblers must defy the odds of one in around 292 million.

Technically, they have a better chance of winning the Powerball than the Mega Millions.

The odds of winning the Mega Millions top prize are around one in about 306 million.

Regardless of their game, jackpot winners face a choice of how they want to receive their winnings.

They can either receive their fortune as a lump sum or in staggered payments paid over 29 years.

The annual payments increase by 5% every time they are paid out.

Most lottery players, including the likes of Edwin Castro, opted for the lump sum.

However, lawyer Andrew Stoltmann told The U.S. Sun that 90% of winners choose the lump sum option.

But he revealed it is the first mistake jackpot winners make.

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.