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Year-old Indiana Lottery jackpot finally won

Indiana LotteryIndiana Lottery: Year-old Indiana Lottery jackpot finally won
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Retired steel worker opts for $40 million cash option

A retired steelworker is the recipient of the Indiana Lottery's infamous jackpot, which has been mysteriously building over a period of more than a year.  Hoosier Lotto is typically won about a half-dozen times per year.

The family's rush to confirm their winning $54.5 million Hoosier Lotto ticket caused a brief scare before they all realized the good news.

Peter Gilbert, 62, East Chicago, appeared at Hoosier Lottery headquarters in Indianapolis yesterday to claim his winnings.

Gilbert said he would take the cash option instead of annual payments, meaning he will receive $40.4 million before taxes.

With Gilbert were his wife, Ann, and son, Tony Gilbert, a detective with the East Chicago Police Department.

The drawing was Wednesday. Tony said his mother called the next day and told him to come to their house right away.

"I jumped in my car and I'm flying over there," he recalled today. "I was actually thinking something had happened to my dad, because my dad's health hasn't been that good."

He was about halfway there when he called his mother to see if they had gone to a hospital emergency room.

"'No,'" she said. "'It's good news. Hurry up and get over here.'"

The younger Gilbert arrived at his parent's house, where they had him double-check the numbers.

"I looked at the ticket forward and backward, and I said, 'We're rich now.'"

Tony Gilbert plans to quit his job with the police department and join his parents on several trips. Las Vegas is their first stop, the family said. They've also talked about Hawaii and Jamaica.

Peter Gilbert bought the ticket at a Mobil gas station on Columbus Drive in East Chicago. Like other grandparents, he used his grandchildren's ages to pick some of the numbers.

One other number on the ticket meant something special, Gilbert said — the age of his pit bull, Caesar.

Peter (from left), Ann and Tony Gilbert talked about how they planned to spend their jackpot winnings today at the Hoosier Lottery headquarters in Indianapolis.

Fast facts: Hoosier Lotto

  • The winning numbers for the Nov. 7 Lotto jackpot were 8, 15, 16, 17, 35, 39.
  • It was the first Hoosier Lotto jackpot hit since Oct. 21, 2006.
  • The $54.5 million pot broke the previous record jackpot of $42 million.

Indianapolis Star, Lottery Post Staff

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31 comments. Last comment 9 years ago by KY Floyd.
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JackpotWanna's avatar - squiz

United States
Member #4121
March 23, 2004
817 Posts
Offline
Posted: November 15, 2007, 10:31 am - IP Logged

WTG on your win!!!!

 

Party

    Bradly_60's avatar - disney37
    Atlantic Mine, Michigan
    United States
    Member #416
    June 23, 2002
    1614 Posts
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    Posted: November 15, 2007, 11:17 am - IP Logged

    Can anyone tell me why the cash option was so high?  I mean it is almost 75% of the annuity value.  Does the Hoosier Lotto have a very short annuity or what is the difference between this one and all the other ones.  I mean interest rates aren't that low.

    Brad

      Avatar

      United States
      Member #54390
      August 17, 2007
      313 Posts
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      Posted: November 15, 2007, 11:34 am - IP Logged

      Congratulations to that guy.  He's a retired steelworker; probably worked very hard most of his life.  I hope he can rest and play golf every day.  I also hope his family doesn't screw him over the money.

        JackpotWanna's avatar - squiz

        United States
        Member #4121
        March 23, 2004
        817 Posts
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        Posted: November 15, 2007, 11:55 am - IP Logged

        "and son, Tony Gilbert, a detective with the East Chicago Police Department."  - I don't think many people will bother them.

         

        "Gilbert said he would take the cash option instead of annual payments, meaning he will receive $40.4 million before taxes."  - Pretty high for cash value.  Must be a typo.

         

        "Las Vegas is their first stop, the family said" - No! No! Should be last stop.

          RJOh's avatar - chipmunk
          mid-Ohio
          United States
          Member #9
          March 24, 2001
          19824 Posts
          Online
          Posted: November 15, 2007, 1:59 pm - IP Logged

          I like his system, grand children ages and the age of his dog, although he seems young to have grand children of ages 35 and 39.

           * you don't need to buy more tickets, just buy a winning ticket * 
             
                       Evil Looking       

            JAP69's avatar - alas
            South Carolina
            United States
            Member #6
            November 4, 2001
            8790 Posts
            Online
            Posted: November 15, 2007, 2:09 pm - IP Logged

            Can anyone tell me why the cash option was so high?  I mean it is almost 75% of the annuity value.  Does the Hoosier Lotto have a very short annuity or what is the difference between this one and all the other ones.  I mean interest rates aren't that low.

            Brad

            With over one year before it has been won there could be a couple reasons.

            The jackpot pool money could have been put into an interest bearing account after each draw until the jackpot is won.

            Could be there was not much lower tier prize money paid out and that money was added to the next jackpot pool.

            WHATT

              RJOh's avatar - chipmunk
              mid-Ohio
              United States
              Member #9
              March 24, 2001
              19824 Posts
              Online
              Posted: November 15, 2007, 2:13 pm - IP Logged

              Can anyone tell me why the cash option was so high?  I mean it is almost 75% of the annuity value.  Does the Hoosier Lotto have a very short annuity or what is the difference between this one and all the other ones.  I mean interest rates aren't that low.

              Brad

              Maybe they don't buy an annuity but just put the money an a saving account  that pays 3% API and write yearly checks until it all gone.

              Or maybe they do buy regular annuities, but they are only obligated to pay out the advertised jackpot amounts so they also make some additional profit off the investments. 

               * you don't need to buy more tickets, just buy a winning ticket * 
                 
                           Evil Looking       

                4thquarterbabe's avatar - Lottery-002.jpg
                Detroit, Michigan
                United States
                Member #45629
                August 25, 2006
                455 Posts
                Offline
                Posted: November 15, 2007, 3:14 pm - IP Logged

                Congratulations to the Gilberts

                WTG!!! Party

                As the world turns, so does luck, believe and it shall return to you!! Let the party BEGIN!!

                Party

                  tnlotto1's avatar - logo
                  nashville
                  United States
                  Member #49896
                  February 18, 2007
                  1181 Posts
                  Offline
                  Posted: November 15, 2007, 4:11 pm - IP Logged

                  congratulations to these winners. they look very happy

                    time*treat's avatar - radar

                    United States
                    Member #13130
                    March 30, 2005
                    2171 Posts
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                    Posted: November 15, 2007, 4:41 pm - IP Logged

                    I like his system, grand children ages and the age of his dog, although he seems young to have grand children of ages 35 and 39.

                    Like other grandparents, he used his grandchildren's ages to pick some of the numbers.

                    The 35 & 39 are the ages of the son & daughter-in-law.

                    In neo-conned Amerika, bank robs you.
                    Alcohol, Tobacco, and Firearms should be the name of a convenience store, not a govnoment agency.

                      konane's avatar - wallace
                      Atlanta, GA
                      United States
                      Member #1265
                      March 13, 2003
                      3333 Posts
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                      Posted: November 15, 2007, 7:24 pm - IP Logged

                      " "I was actually thinking something had happened to my dad, because my dad's health hasn't been that good."

                      Couldn't have come at a better time for them!  Congratulations to the Gilberts!  Party

                      Good luck to everyone!


                        United States
                        Member #54979
                        September 4, 2007
                        3 Posts
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                        Posted: November 15, 2007, 11:01 pm - IP Logged

                        From the Indiana Lottery web site; the article's cash option estimate must have been an error: 

                        Q. What is the difference between the cash option and the annuity option in the Hoosier Lotto game? A. The Hoosier Lottery advertises the estimated annuity jackpot. If you win, this jackpot amount is paid in equal annual payments over 30 years. However, within sixty (60) days of the drawing, the winner may elect to receive a cash option prize paid in one lump sum. The cash option will be approximately 40%-50% of the total annuity jackpot. 

                          Avatar

                          Honduras
                          Member #20982
                          August 29, 2005
                          4715 Posts
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                          Posted: November 16, 2007, 5:05 am - IP Logged

                          Congratulations to the Gilberts...

                          And i thought Black people didn't win lotteries...lol...What i am trying to say is that for years i've been waiting to see a Black person win multi-millions in the lottery...Is always our Caucasians counterparts winning...And like how Blacks are becoming the shrinking minority in the U.S....

                            kalikgirl's avatar - Lottery-062.jpg
                            FREEPORT
                            Bahamas
                            Member #55643
                            October 12, 2007
                            38 Posts
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                            Posted: November 16, 2007, 8:33 am - IP Logged

                            Congratulations  on your Winnings ! Las Vegas need to be your last stop. please dont spend it all one place. Bring some to Freeport, Grand Bahama island!Jester Laugh