Racine County Player Holding $50,000 Powerball Ticket

RACINE COUNTY, WI — One lucky Wisconsin player is holding a $50,000 Powerball ticket from the Wednesday, Dec. 6, Powerball drawing, Wisconsin Lottery officials have confirmed.

According to lottery officials, the winner purchased their ticket at the Citgo Auto Truck Plaza at 611 S. Sylvania Ave. in Sturtevant in Racine County.

The winner matched four out of the five numbers drawn, plus the Powerball. Wednesday's winning Powerball numbers were 19, 20, 50, 55, 62 and the Powerball was 9. The Power Play number was 2.

Prize winners have 180 days to claim their prizes. The next Powerball drawing will be Dec. 9. The estimated jackpot is $212 million.

Claiming, Safeguarding Winnings

So, what should you do if you win the big prize? Many lottery winners hire an attorney, financial planner or both, since most people don't exactly know what to do when they suddenly come into so much money. Some even bring their lawyer with them to claim their prize. The lottery does not offer any counseling services or advice for winners.

You have two choices when you claim your prize: the full value paid in 30 installments over 29 years, or a one-time lump sum that is smaller than the actual total.

Then there are the taxes. The federal tax on lottery winnings is 25 percent. Then, any extra income taxes like state or city would apply.

Financial experts say that if you can get more than a 3 or 4 percent return on an investment, the lump sum is actually the best way to go in the long-term.

Image Via Wilottery.com