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Investment banker cashes in $9.3 million winning Oregon lottery ticket
Oregon Lottery: Investment banker cashes in $9.3 million winning Oregon lottery ticket
A Seattle investment banker who wants to keep working in spite of his good fortune has cashed the winning $9.3 million Lotto jackpot ticket for Saturday night's drawing.
The prize was the largest jackpot since Washington's Lottery switched from Lotto Plus back to classic Lotto in October of 2003.
Peter Kerr, who works for UBS Financial Services, Inc., of Seattle, selected the cash option for his winnings, providing him with half the jackpot amount, $4.65 million. His wife, Cynthia Wells, was at his side at Washington's Lottery Seattle office on Tuesday.
Kerr said he discovered he was a big winner when he checked the winning numbers in The Seattle Times on Sunday.
"I checked the numbers and they matched the last line on the $5 ticket," he said. "I looked back at the numbers and I'm sure my eyes were bugging out. It was one of those things that I was thinking 'this cannot be real.'"
Kerr said he won't give up his job because he likes what he does. He said the couple plans on sharing their good fortune with their family, including the couple's grandchildren.
"We want to put some aside for their education," he said.
In addition, Kerr and his wife said they want to contribute to a number of charitable causes.
Kerr purchased his winning ticket at Gateway Newstands in Seattle. The Washington Lottery retailer receives a retail selling bonus equal to one-percent of the jackpot amount or $93,000, largest bonus in Lottery history.
AP
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15 comments. Last comment 4 years ago by .
Greenwich, CT United States Member #4879 May 24, 2004 1822 Posts Offline |
| Posted: June 15, 2005, 3:15 pm - IP Logged |
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It's refreshing to see all sorts of people win the lottery....rich and poor. Makes me believe it's all random in the end.
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Memphis,Tennessee United States Member #8005 October 15, 2004 11291 Posts Offline |
| Posted: June 15, 2005, 3:57 pm - IP Logged |
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why in the world would this person want to keep working?
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Greenwich, CT United States Member #4879 May 24, 2004 1822 Posts Offline |
| Posted: June 15, 2005, 4:04 pm - IP Logged |
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Maybe he actually likes his job.
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Amity, Oregon United States Member #3070 December 13, 2003 1193 Posts Offline |
| Posted: June 15, 2005, 6:31 pm - IP Logged |
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This guy won the Washington lottery for 9.3 million not the Oregon lottery. I saw it on the news this afternoon he did not win anything from the Oregon lottery. Must have been a typo.
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New Member  WA United States Member #16332 May 25, 2005 1 Posts Offline |
| Posted: June 15, 2005, 11:07 pm - IP Logged |
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I have the plans now all I need is the money:) I play about 30$ a game but the most I have won is 30$!
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United States
Member #380
June 5, 2002
11297 Posts
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| Posted: June 16, 2005, 10:28 am - IP Logged |
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Notice that the cash option was for half the annuity, instead of according to interest rates.
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United States Member #3331 January 7, 2004 147 Posts Offline |
| Posted: June 16, 2005, 11:15 am - IP Logged |
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I use to work at a law firm that had wealthy clients who set-up trust funds & wills, etc. One of the clients (who had never played the lottery before) won a $25 million jackpot. It was unbelievable!
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New Mexico United States Member #12540 March 10, 2005 2987 Posts Offline |
| Posted: June 16, 2005, 11:17 pm - IP Logged |
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I seem to recall reading that Hollywood Henderson spend $100 a draw for two years before he won the jackpot.... I don't recall the size but it might have been upwards of $25 million... Powerball in CO, if my memory serves me right.
That puts him into it for around $10K before he won. I'd say old Hollywood was about as deserving as anyone else, given the circumstances.
Jack
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Memphis,Tennessee United States Member #8005 October 15, 2004 11291 Posts Offline |
| Posted: June 17, 2005, 12:04 am - IP Logged |
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if i'm correct 'ol hollywood henderson won TWICE,two different occasions i remember reading that in his book,wow he is lucky!
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MD United States Member #1735 June 18, 2003 5770 Posts Offline |
| Posted: June 17, 2005, 1:08 am - IP Logged |
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why in the world would this person want to keep working?
because he's probably addicted to his job and works for salary plus commission, probably has a 6 figure income possibly 7 figures. Anyone making that kind of dough also has a high debt to income ratio. Needs every penny he can make to keep floating the boat.
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Stroudsburg, PA United States Member #1860 July 11, 2003 2597 Posts Offline |
| Posted: June 17, 2005, 1:11 am - IP Logged |
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This might be the last WA Lotto winner for a while. Once everyone gets wind of the draw changes, they'll stop playing. Good thing we still have Maryland Lotto, which is pretty much the same game.
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United States
Member #380
June 5, 2002
11297 Posts
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| Posted: June 17, 2005, 1:07 pm - IP Logged |
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Henderson hit Lotto TX; afaik he won ONCE.
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Morrison, IL United States Member #4741 May 13, 2004 1632 Posts Offline |
| Posted: June 19, 2005, 12:07 pm - IP Logged |
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why in the world would this person want to keep working?
because he's probably addicted to his job and works for salary plus commission, probably has a 6 figure income possibly 7 figures. Anyone making that kind of dough also has a high debt to income ratio. Needs every penny he can make to keep floating the boat.
Yeah, they probably develop a lifestyle where they cannot live off $4.65 million + interest for the rest of their lives.
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United States
Member #380
June 5, 2002
11297 Posts
Offline
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| Posted: June 19, 2005, 1:23 pm - IP Logged |
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Lump sum is better, even if the cash is only half of the annuity.
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