The bulk of the lottery revenue goes to infrastructure funding and retirement funds for police officers, firefighters and teachers. Today, the lottery features eight draw games, five of which are Indiana-specific, more than 70 scratch-offs and numerous fast-play games. The lottery sold its first scratch tickets in October 1989, while the first draw game began in April 1990. If you’re really lucky and end up winning $50,000 or more, then call the Hoosier Lottery at 1-80 to schedule an appointment for claiming your prize.Indiana established its lottery - officially named the Hoosier Lottery - in 1989 after several unsuccessful attempts at doing so. If you win between $600-$49,999, then either claim you winnings via mail or by visiting a Hoosier Lottery Prize Payment Center in Indianapolis, Mishawaka or Evansville.Ĭlaiming a big prize by mail? The Hoosier Lottery recommends using UPS, FedEx or USPS Certified. Wait 7-10 business days for your winnings.Mail everything to 1302 North Meridian Street Suite 100, Indianapolis, IN 46202.Staple your ticket to a copy of your government ID.Fill out IRS FORM 5754, if multiple people are claiming the prize.Print and fill out a Hoosier Lottery winner claim form, leaving lines 1-6 blank.If you can’t redeem your prize from the retailer, then you’ll have to send it to the Hoosier Lottery via mail. Not every retailer will redeem prizes worth a few hundred dollars, but this is the fastest way to get your money if it works out. If you’ve won under $600, you can try redeeming your ticket from the Hoosier Lottery retailer that you bought it from. The way you claim your prize depends on how large it is. In Indiana, you have 180 days to claim your prize, so that leaves plenty of time to get your affairs in order if you win a huge jackpot.
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How to claim lottery prizes in IndianaĬlaiming lottery prizes in Indiana is a pretty simple process. However, first you’ll need to know how to actually claim your prize. To sum it up, here are the six things you should do when you win big: They can also help you out when it comes to investments and long-term financial planning. These two will help you manage your money once you have it. Next up, you’re going to need an accountant and a financial planner. It could cause problems if you plan on staying anonymous, so if you can keep your winning ticket safe, consider holding off on signing your ticket until you’ve spoken with a lawyer. The Hoosier Lottery recommends signing the back of your ticket, but know that that might not always be the best advice. You can also get some legal advice on whether taking the jackpot as a lump-sum or as payments over time is best for you.
There are certain rules that lottery winners have to follow if they want to stay anonymous.įor example, in Indiana, you can’t claim your winnings anonymously unless you go through a limited liability corporation or a legal trust. If you’re winning a $750 million jackpot, even a small commission would really start to add up.
When searching for advisors, look for fee-only professionals rather than commission-based.įee-only folks work for a flat-rate, while those on commission take a percentage of the money they’re working with. You’ll need to hire some people to help you pull this off correctly. The last thing you want is hordes of people or family members swarming you from every angle.
What should you do? What steps should you take to keep you and your winnings safe?įirst thing’s first, keep your mouth shut until you have a plan. So let’s say you’re one of this weekend’s big jackpot winners. Lottery tickets are incredibly popular in Indiana, so who knows, maybe a Hoosier ends up winning one of the jackpots. Frequent winners throughout 2020 kept the jackpots low. These are the first massive jackpots in a while for both games. The Powerball’s winning numbers will follow the next day for its $640 million jackpot.Īlmost $1.4 billion up for grabs is certainly enough to get lottery players excited. Lottery lovers are gearing up for some major jackpot drawings this week.įirst up is the $750 million Mega Millions drawing on Friday, Jan.
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