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Fort Lauderdale trucker hits the jackpot

Florida LotteryFlorida Lottery: Fort Lauderdale trucker hits the jackpot

Florida's newest millionaire is a Fort Lauderdale truck driver, a habitual lottery player whose stepdaughter figures the $1 million in winnings may just get him even.

"He's been buying them his whole life. This is just all the money he's spent on them," said Kandice Marks, whose stepfather, Donald Ritacco, was driving back from Tallahassee on Monday.

Ritacco, 48, bought his $10 ticket for the Florida Lottery's "$1,000,000 Cash Spectacular" scratch-off game Thursday at a Marathon gas station on State Road 84 in Fort Lauderdale.

"There was only the clerk in the store, and I told him I won," Ritacco said, according to a lottery news release. "I then called my wife to tell her the good news, and she didn't believe me until I showed her the ticket."

Ritacco redeemed his ticket Monday morning at Florida Lottery headquarters in Tallahassee, making him the ninth million-dollar winner in the game. He opted to take 20 annual installments of $50,000.

He has no plans to quit his job driving an 18-wheeler for Show Management of Fort Lauderdale, hauling equipment for boat shows, according to Marks. The family hasn't decided yet what to do with the winnings.

"I think everybody's had input on it," Marks said.

Miami Herald

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7 comments. Last comment 13 years ago by CASH Only.
Page 1 of 1
fja's avatar - gnome1

United States
Member #91
January 19, 2002
11934 Posts
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Posted: December 16, 2003, 6:40 am - IP Logged

for a guy thats hooked on the lottery that much, annuity seemed like the smart way to go!

"Everybody has to believe in something...I believe I'll have another beer!"   = W.C.Fields                      


    United States
    Member #379
    June 5, 2002
    11296 Posts
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    Posted: December 16, 2003, 8:09 am - IP Logged

    Another winner turned loser.

      whodeani's avatar - lightening

      United States
      Member #2484
      October 9, 2003
      212 Posts
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      Posted: December 16, 2003, 9:09 am - IP Logged

      That $1 million isn't going to be worth $1 million 20 years from now. He should have taken the cash. When will people ever learn????????

        fxdwg's avatar - animal bear.jpg

        United States
        Member #2870
        November 25, 2003
        76 Posts
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        Posted: December 16, 2003, 1:00 pm - IP Logged

         give me the cash option the only way to win

          Cleveland,Oh
          United States
          Member #1856
          July 16, 2003
          531 Posts
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          Posted: December 17, 2003, 12:24 am - IP Logged
            Avatar
            beltsville, md
            United States
            Member #2846
            November 21, 2003
            15 Posts
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            Posted: December 17, 2003, 4:31 am - IP Logged

            dear players,

            the truck driver didn't really win a million dollars.  he won the right to earn one million dollars provided that he takes an annual sum of $50,000 a year for the next 20 years before taxes (federal and state).  if he doesn't take that option and decides to redeem the whole value of his winning ticket, it is only worth less than half a million dollars and, when taxes are taken out, perhaps no more than a third of one million. in short, he isn't choosing between a million today and a million tomorrow; he is choosing between a third of a million today and a whole million tomorrow. in the end, whether he comes out better off with one option or the other all depends on the rate of inflation and the rate of return on his investment. it isn't as simple as some on this forum seem to think.  nothing ever is; specially the complex world of high finance and money management.

            cheers, hitchaser.


              United States
              Member #379
              June 5, 2002
              11296 Posts
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              Posted: December 17, 2003, 8:14 am - IP Logged

              hitchaser:

              the "whole million" 20 years from now won't be worth nearly a            "whole million" today.