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Indiana couple claims $27.5 million Lotto prize

Indiana LotteryIndiana Lottery: Indiana couple claims $27.5 million Lotto prize
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A Noblesville, Indiana, couple turned their $1 lottery ticket into a multimillion-dollar jackpot.

Larry and Connie Miller claimed their $27.5 million Hoosier Lotto jackpot today — the seventh highest for the game — at Hoosier Lottery headquarters in Indianapolis.

Hoosier Lottery Executive Director Sarah Taylor presented the couple with their winnings, and they accepted the oversized check with their attorney and accountant at their side.

Despite their new wealth, the Millers say they have no intention of changing who they are.

"This most recent blessing is incredibly humbling, surprising and exciting. Naturally, the shock and thrill of winning the lottery was an incredibly exciting feeling and certainly a little bit overwhelming," Larry and Connie Miller said in a written statement. "Our lives have always been abundantly blessed before this and that is something we will never forget. We will not fundamentally change who we are or how we lead our lives.

"This event merely provides us with more opportunities to continue with those obligations and commitments that have always been part of our life journey together."

The winning ticket, with the numbers 9, 16, 34, 37, 45, and 46, was drawn on May 10. It was bought at a Marsh Supermarket at 208 Southway Blvd. E. in Kokomo.

Officials said the winners had the choice of taking payment of $27.5 million as a 30-year annuity where they would have received about $916,000 annually before taxes or as a lump sum of $11.1 million before taxes.

The winners opted to take the cash option.

"We plan to work closely with our trusted financial and legal advisers to ensure that we are good stewards of this wonderful gift. Going forward, we simply look forward to spending our golden years together enjoying the life we have been given," the Millers said.

John Hendricks, an attorney for the Millers, said no additional statements about the prize or the couple's plans for the money are being made at this time.

The couple's prize represents a jackpot that had been steadily growing since October 2013 when retired Bloomington police officer Richard McMurry of Bloomington won a $3.5 million jackpot.

Since the game started in 1994, more than 100 players have claimed Hoosier Lotto jackpots. The biggest Hoosier Lotto jackpot ever was a $54.5 million prize that was claimed in November 2007 by retired East Chicago steelworker Peter Gilbert.

Hoosier Lotto drawings are Wednesday and Saturday nights. Tickets cost $1 per play.

Saturday's jackpot is $1 million.

News story photo(Click to display full-size in gallery)

Indianapolis Star

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30 comments. Last comment 1 month ago by BellasBMWLucki.
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DoctorWhy's avatar - 04 05.jpg
Indianapolis, IN
United States
Member #151849
January 28, 2014
52 Posts
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Posted: June 5, 2014, 6:23 pm - IP Logged

Well, it looks like I won't be playing Hoosier Lotto for a while... Wink

Think amongst Chaos. Play in Order.

    Pita Maha's avatar - 940d8157 d1fb-4f70-a715-6ad04d915489.jpg
    SW Florida
    United States
    Member #145678
    August 11, 2013
    141 Posts
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    Posted: June 5, 2014, 6:26 pm - IP Logged

    Good for them, they sound like a nice, level-headed couple.  Except for this:

    Despite their new wealth, the Millers say they have no intention of changing who they are.

    I'm sure sudden wealth changes you, whether you want it to or not.  It'll definitely change the dynamics of their relationship with family and friends, maybe not always for the best.  That would change anyone.  I think you'd become less trustful of others, a bit more wary.  If you want to keep your riches, that is.

    I hate how they present the winners with an unrealistic check amount. They should present them with the lump sum amount: $11.1million.  Even that's not realistic because it's before taxes. The check amount and the real amount is so way off, it's not funny.

      lejardin's avatar - Lottery-014.jpg

      United States
      Member #118613
      November 4, 2011
      318 Posts
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      Posted: June 5, 2014, 6:55 pm - IP Logged

      Good for them, they sound like a nice, level-headed couple.  Except for this:

      Despite their new wealth, the Millers say they have no intention of changing who they are.

      I'm sure sudden wealth changes you, whether you want it to or not.  It'll definitely change the dynamics of their relationship with family and friends, maybe not always for the best.  That would change anyone.  I think you'd become less trustful of others, a bit more wary.  If you want to keep your riches, that is.

      I hate how they present the winners with an unrealistic check amount. They should present them with the lump sum amount: $11.1million.  Even that's not realistic because it's before taxes. The check amount and the real amount is so way off, it's not funny.

      Congrats to the newest lottery winners.  I would look forward to my life changing and having more options.  Individually not sure how I personally wouldnt change. Just hope it would be for the better. 

      I agree about the check amount.  From $27,000,000 to $11,000,000 to a net of approximately $5,500,000 is pretty pathic and misleading.  Dont get me wrong, I would love to win even the net amount but those who read this story think they won $27 million only to find out the true amount is considerably less.  It reminds me of the Natalie Bostelman win with Publishers Clearing House $1 million, to end up with net $260,000 is very sad.

      With the Mega Millions and Powerball lottery, I always check Todd's other site USA MEGA that gives the approximate net value per state, that is the only figure I am interested in knowing.

        mrcraft's avatar - images3lp4 zps7dbb4a10.jpg
        Los Angeles, California
        United States
        Member #149499
        December 2, 2013
        724 Posts
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        Posted: June 5, 2014, 8:05 pm - IP Logged

        That lump sum of $11.1 million doesn't sound right.  It's 40.7% of the advertised jackpot.  PB pays 59.8% and MM pays 57.6% of their advertised jackpot for those that choose cash option.  I believe they all make the same number of annuity payments although the annual increases may be different, but that shouldn't account for that big of a discrepancy.

          Avatar
          NY
          United States
          Member #23835
          October 16, 2005
          2829 Posts
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          Posted: June 5, 2014, 9:08 pm - IP Logged

          "Officials said the winners had the choice of taking payment of $27.5 million as a 30-year annuity where they would have received about $916,000 annually before taxes or as a lump sum of $11.1 million before taxes."

          Apparently it's just 30 equal installments. That means that there's no extra money earning interest in the early years, so it would require more principal to generate the annuity payments than is required for PB or MM, assuming the principal is invested at the same rates. I see 3 possibilities. The article may be wrong, Indiana may be using an investment with higher interest (and more risk), or they're paying out an arbitrary percentage that is less than the actual cash value.

            Arrowhead's avatar - underground
            Ohio
            United States
            Member #120759
            December 27, 2011
            275 Posts
            Offline
            Posted: June 5, 2014, 9:21 pm - IP Logged

            That's a nice, tidy, take-home amount, just about right for a couple of this age.

            No splurging, no gaudy expenditures, no island home---just easing toward retirement with no debt and a comfy nest egg.

            Good for them.

              LottoMetro's avatar - get money.jpg
              Happyland
              United States
              Member #146350
              September 1, 2013
              487 Posts
              Offline
              Posted: June 5, 2014, 9:27 pm - IP Logged

              That lump sum of $11.1 million doesn't sound right.  It's 40.7% of the advertised jackpot.  PB pays 59.8% and MM pays 57.6% of their advertised jackpot for those that choose cash option.  I believe they all make the same number of annuity payments although the annual increases may be different, but that shouldn't account for that big of a discrepancy.

              The annuity is calculated based on the amount of cash available/projected to fund it, so basically $11.1 million is what they had allocated for the jackpot. 39.8% of sales. Interestingly, the day after this jackpot was won, the lottery amended their rules regarding rollovers and the annuity jackpot.

              If the chances of winning the jackpot are so slim, why play when the jackpot is so small? Your chances never change, but the payoff does.

              If a crystal ball showed you the future of the rest of your life, and in that future you will never win a jackpot, would you still play?

              2013: -35.14% (158 tickets) || 2014: +56.92% (12 tickets)

                Saylorgirl's avatar - Lottery-065.jpg
                Indiana
                United States
                Member #129230
                June 13, 2012
                317 Posts
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                Posted: June 5, 2014, 10:08 pm - IP Logged

                The annuity is calculated based on the amount of cash available/projected to fund it, so basically $11.1 million is what they had allocated for the jackpot. 39.8% of sales. Interestingly, the day after this jackpot was won, the lottery amended their rules regarding rollovers and the annuity jackpot.

                The Indiana lottery is very stingy in its cash payouts!  It was hit again the next drawing.

                  mypiemaster's avatar - peace
                  He who dies with the most toys WINS!!!.

                  United States
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                  April 2, 2013
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                  Posted: June 5, 2014, 10:11 pm - IP Logged

                  Despite their new wealth, the Millers say they have no intention of changing who they are. Yep, famous last words.

                  Seekand ye shall find -Matt. 7:7 ...Ask and ye shall receive -John 16:24 ...Give and it shall be given unto you -Luke 6:38 ...Be careful what you ask for!!! -Mypiemaster 1:1

                  Having Money Solves Problems That Not Having Money Creates Yes Nod ****John Carlton****

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                    New Member

                    United States
                    Member #142977
                    May 21, 2013
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                    Posted: June 5, 2014, 10:17 pm - IP Logged

                    That lump sum of $11.1 million doesn't sound right.  It's 40.7% of the advertised jackpot.  PB pays 59.8% and MM pays 57.6% of their advertised jackpot for those that choose cash option.  I believe they all make the same number of annuity payments although the annual increases may be different, but that shouldn't account for that big of a discrepancy.

                    Winnings are not subject to state tax.

                      rdgrnr's avatar - walt
                      -Ridge Runner- Oracle of the Appalachians
                      Way back up in them dadgum hills, son!
                      United States
                      Member #73904
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                      Posted: June 5, 2014, 10:31 pm - IP Logged

                      I thought it was very rude of the Lottery Executive Director to wear her bathrobe for the picture with the winners.

                        mrcraft's avatar - images3lp4 zps7dbb4a10.jpg
                        Los Angeles, California
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                        Member #149499
                        December 2, 2013
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                        Posted: June 5, 2014, 10:43 pm - IP Logged

                        Winnings are not subject to state tax.

                        How is this relevant to my post?

                          MADDOG10's avatar - smoke
                          North Jersey
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                          July 18, 2004
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                          Posted: June 5, 2014, 11:23 pm - IP Logged

                          I wish them " Good Luck " with their new found wealth! 

                                                                                    Your Best Teacher, is Your Last Mistake.

                            golfer1960's avatar - images q=tbn:ANd9GcRrT_aqD1AR0JipFSPNrYwpV7HY4uVoKxOgcUYLzZ3SEdif
                            Eatontown, NJ
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                            November 29, 2011
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                            Posted: June 6, 2014, 12:05 am - IP Logged

                            I thought it was very rude of the Lottery Executive Director to wear her bathrobe for the picture with the winners.

                            Green laugh

                             

                            My man Ridge!!!!