A woman from Brooklyn has won a $20 million lottery jackpot, but she will lose a quarter of her prize due to annuity payments and taxes

A Brooklyn resident has become the winner of Ohio's "Billion" lottery, taking home an astonishing prize of $20 million (1.9 billion rubles). However, her chosen method of claiming the winnings has come at a steep cost. As a result, the woman will lose over $5 million (474 million rubles) due to taxes.
The lucky winner, who identified herself as McDonnell, defied odds of 1 in 6.48 million to secure the top prize in Ohio's popular Billion scratch-off game, where tickets are priced at $50 (4,740 rubles).
In a departure from the norm, McDonnell opted for an annuity payout rather than a lump sum. While this choice guarantees a steady stream of income over time, it comes with significant costs. Instead of receiving the full $20 million upfront (1.9 billion rubles), she will receive $1 million (94.8 million rubles) annually for the next 20 years.
The tax implications of this decision are substantial. As a result, McDonnell's annual income will amount to approximately $720,000 (68.2 million rubles). Over the two decades of annuity payments, these deductions will accumulate to more than $5 million (474 million rubles).
Choosing the annuity option is often attributed to a desire for controlled financial management. Many lottery winners in the past have faced financial difficulties shortly after claiming their prizes, prompting some to select structured payments to avoid squandering their newfound wealth.
McDonnell purchased her winning ticket at the Memphis Shell station in Cleveland, which will receive a significant bonus of $100,000 for selling the winning ticket.
A press release from the Ohio Lottery confirms that three additional prizes of $1 million (94.8 million rubles) per year for 20 years are still waiting for their winners. Tickets for the "Billion" game have been on sale since January 2023.
In related news, we previously reported that a group of cleaners from India won $1.2 million in the lottery after pooling their money to buy a ticket.