A Massachusetts man is taking a smart approach after landing a $1 million lottery prize on a scratch-off ticket.
Leonardo Da Silva Almeida of Medford won the grand prize in the Massachusetts State Lottery’s “50X” $5 scratch ticket game, according to the Massachusetts State Lottery.
Rather than taking the full prize over time, Almeida selected the cash option and received a one-time payment of $650,000 before taxes. He said he plans to save and invest the money.
His winning ticket was purchased at Public Tavern, 565 Broadway in Somerville. The retailer will also receive a $10,000 bonus for selling the lucky ticket.
Key details:
- Prize: $1 million
- Cash payout: $650,000 before taxes
- Winner: Leonardo Da Silva Almeida of Medford
- Retailer bonus: $10,000
- Remaining $1 million prizes: 3
Almeida isn't the only player with a shot at a major payday. Three $1 million grand prizes are still unclaimed in the “50X” game.
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