Texas Resident Wins Massive Prize with Lottery Scratch-Off Ticket

If you are one of the people who decides to spend a little money to make a little money then you will likely understand how a person who bought one scratch-off ticket ended up becoming a Texas millionaire according to KDFW Fox 4 in downtown Dallas.

The person who won the large prize only bought one ticket, and he has chosen to remain anonymous. According to Texas lottery officials, the cost of the ticket is $100 per ticket and prizes start at $150.

The overall odds of winning a prize in this particular lottery contest are one in 3.84. The person who purchased the ticket at the Chilly Mart, located at 3705 S. Carrier Parkway must be overjoyed. While the winner will have to pay their federal taxes, there are no state taxes on lottery winnings.

The Texas Lottery offers various scratch-off games with amazing grand prizes, and this Texas winner played one of them. NBC5-DFW says several massive prizes have already been claimed using these scratch-off tickets.

How Much Was The Ticket Worth?

It's no joke to play these games because you are making a $100 investment in a ticket, but the odds are fairly good that you are going to get a prize. The person who purchased the winning ticket from the Chilly Mart has walked away with a prize of $5 million!

This same contest still has 3 other tickets out there that are worth the same amount. NBC-DFW has done the math on what the ticket holder will really get after taxes. If you consider an average tax rate of 37%, the winner will get $3.15 after federal taxes are taken out.

While this is an amazing amount of money, it's not the biggest jackpot in Texas that will be won eventually. The contest called $20 million Supreme has four winners who each win $7.5 million! Two of those tickets have already been claimed, but two remain. In addition, the other prizes include 40 tickets worth $100,000 and 436 tickets worth $10,000.