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.
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Well, it looks like I won't be playing Hoosier Lotto for a while...
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.
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.
"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.
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.
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.
Despite their new wealth, the Millers say they have no intention of changing who they are. Yep, famous last words.
Winnings are not subject to state tax.
I thought it was very rude of the Lottery Executive Director to wear her bathrobe for the picture with the winners.
How is this relevant to my post?
I wish them " Good Luck " with their new found wealth!
My man Ridge!!!!
I thought it was just me until I read the rest of the comments. 27,000,000 to 11,100,000 before taxes?? After uncle sam takes his 39.6% and the state gets theirs, it's down to like 5 or 6 million. That's still a lot of money but dam, 22 million of 27 million gone! Also, like I posted before, people think that once you hit the lottery you have to say, "We're not going to change who we are." It's become so cliche' it's a joke. Try keeping that same house, try keeping that same job and see how much of your life will remain the same. It's not possible. You're friends and family will change regardless of what you try to do. If I was ever to hit for a sum that gives me over 10 million, I'll move the next day and get rid of my old cell. If you were my friend before then don't worry about it, i'll contact you when I can.
Their lucky they didn't win this in NY. After they paid all the fake State taxes they would end up owing them a $1.
Congratulation Larry & Connie
"Despite their new wealth, the Millers say they have no intention of changing who they are".
When will people learn and stop say such non-sense???? Firstly you and your life WILL change!! Whether you like it, want it to or not!! Secondly and most importantly, it does'nt matter if you change or not, what lotto winners MUST realize by now is that the way OTHERS see them will change. And as such, you'll have to be smart and adjust.
Happy for them. Way to go. Enjoy, enjoy, enjoy!! But come on now, you and things around you WILL change! Its simply best to prepare for that than be "surprised" and caught off guard.
When JP winners say they will 'not change who they are' they are subconsciously saying they will try not to change who they are, because they don't desire to change who they are.
And in the case of this couple, who are not exactly kids, this relatively modest after-tax JP will indeed probably not change who they are.
These folks are not $100-300 mil MM or PB winners. THAT 'changes who you are'.
Exactly. Well said.
ROFLMAO
Hate me all you want, but after a drop-off like that, I'd seriously consider taking the annuity.
Invest half the money and live off the other half.
With the cash value being 40% of the jackpot, this is one case where I would take the annuity instead of the cash option. But considering that the couple that just won this prize are considerably older than I am, then it's probably best that they just take the cash option.
Tonight's Ohio Classic Lotto JP at $72.5 mil.....net cash value amount $25.737 mil.
Congrats to the winners. Trust me your life will change,everybody in ur town knows u have lots of money.Thats a game changer.
Woo hoo! Those near and in Ohio should definitely be playing this. If won, I hope the winner is willing to kick their accountant adviser for advising to take the "cash value" if they find out that the gross cash value is only 35-40% of the annuity!!!
Now up to $73.1 mil...about 2.5 years since a JP winner. Utterly ridiculous.
Net cash value= $29.9 mil...
Annuity year 1 = $1,743,760, Annuity years 2-30= $1,729,560
quite astute post here.
i was thinking same thing,i notice that.
Good eye!
y'
Felicidades,so nice to see this!
adios Noche.
ha!
how true lol
or so i hear.
adios
Noche