CONCORD, N.H. – While the world awaits the name of the winner of Saturday’s $487 million Powerball jackpot, the New Hampshire Lottery is offering advice to the prospective winner of this and other major jackpots. A winning $487 million Powerball ticket, which marks the 10th winning Powerball ticket sold in New Hampshire and the first since 2007, was sold at Hannaford Supermarket on Freetown Road in Raymond for this past Saturday’s drawing.

Two options are available to the winner, taking a lump-sum cash option of approximately $341.7 million or the option of an annuity payment over 30 years. Twenty-five percent would be withheld for federal taxes for the cash option netting the winner approximately $256.3 million. The annuity payment offers a graduated plan that increases each year. An estimated $7.3 million payment would be made the first year and the 29th payment would be an estimated $30.2 million – each before taxes.

“While the winner’s initial inclination might be to buy a tropical island and matching his and her Gulfstream jets to get there, we would encourage them to take a moment and follow these seven steps as they prepare for this life-changing moment,” said Charlie McIntyre, executive director of the New Hampshire Lottery Commission.

1. Sign the ticket—the New Hampshire Lottery only pays the person who signs the back of the ticket.
2. Move to New Hampshire. “All kidding aside, if the winner is from out of state, they should seriously consider moving here. With the state’s gambling tax repealed four years ago, New Hampshire Lottery winners avoid all state taxes, which, on a prize as large as $487 million, could save the winner more than $20 million compared to what they would pay in neighboring states, where a 5% tax is assessed to lottery prize winnings. Take some time to find a residence in the Granite State before claiming the ticket,” McIntyre said.
3. Talk to a lawyer—an attorney can provide strategic guidance.
4. Meet with a financial professional—someone experienced working with large sums of money.
5. Know who your friends and family are now. “Everybody you ever knew from the third grade on is going to be calling you,” McIntyre said. “Make sure you know who the people are who are important to you before you claim that prize.”
6. Take some time to let it sink in before claiming. “Plan first before you come in,” McIntyre said. “We can wait a whole year, not that we want to. Take some time to fully grasp the situation, and try to think about what you want to do with the money.”
7. In the near-term, try to go about your daily activities as best you can. “It is difficult to keep a secret like this, but we suggest trying to keep things as low-key as possible as you figure out what to do with the money,” McIntyre said.

McIntyre, who has administered hundreds of millions of dollars in winning prizes during his career, added a final piece of advice. “Winning a $487 million jackpot is an incredible opportunity. Your win is like planting an apple tree. Live off the fruit of the tree only so that the tree will continue to produce for you and for your family for years and years to come.”

The Powerball drawing results from July 30 were: 11-17-21-23-32 PB-5 with a Power Play of 2.

In addition to the winning Powerball prize, a $1 million winning ticket was sold at the Cumberland Farms at 278 Meadow Street in Littleton, NH. A $100,000 winning ticket was sold at the Discount II Plus Deli, located at 1294 New Hampshire 16, Conway, NH. A $50,000 Powerball winning ticket was sold at Spitbrook Market, 108 Spitbrook Drive in Nashua.

Powerball tickets are on sale at more than 1,250 retailers in New Hampshire until 9:50 p.m. Wednesday. Powerball tickets cost $2 per play. Drawings are held Wednesdays and Saturdays at 11:00 PM.

About New Hampshire Lottery
Since 1964, the New Hampshire Lottery has had a significant financial impact on the state. For the past 51 years, the New Hampshire Lottery has recorded almost $6.0 billion in lottery sales and other earnings, with over $3.8 billion being paid in prizes and other cost of sales. Net proceeds to education total more than $1.7 billion to date.

The New Hampshire Lottery Commission, located at 14 Integra Drive in Concord, currently manages all lottery operations in the state, including instant games, New Hampshire Powerball®, New Hampshire Mega Millions®, New Hampshire Hot Lotto® Sizzler, Tri-State Megabucks℠ Plus, Tri-State Pick3®/Pick4® Daily Numbers games, Gimme 5, Fast Play games and Lucky For Life®.