Maybe someone’s planning ahead and looking forward to the time when we can all be out and about again! With the Powerball jackpot now up to an estimated $200 million for tomorrow night’s drawing, we got a question from a player who asked how the process actually works when a group wins a big prize.
A peek back at some very happy Cedar Rapids co-workers who claimed a $1 million lottery prize shows a lot about the process. There definitely was cheering and celebrating the day that The Dream Big Team came to the lottery!
When a group wins a lottery prize in Iowa, just one person signs the back of the ticket, but they indicate it’s on behalf of the group. You would use whatever name your group has chosen, so the details would read something like this: John Smith on behalf of The Dream Big Team.
If the prize involved is more than $600 and requires a claim form, you check the box showing that more than one person is claiming the money. Each member of the group then provides information on a Federal Form 5754 identifying themselves and listing how much of the prize they’re claiming. That’s a very important detail for tax-reporting purposes.
The lottery issues a check for the prize to the person who signed the back of the ticket. That person then can deposit or cash the check and split the winnings with the group!
We keep reminders about group lottery play as a permanent feature on our website, so feel free to check out those details as well. For example, one of the quick tips we give is for the person buying tickets on behalf of a group to keep a careful list of everyone who contributes money, how much they give and when! That can help avoid questions later about who was “in.”
Hi, Ksea. Thank you for entering the social media contest for March! We do our best to keep the questions different and fun. The winners in the contests are selected from among all the correct answers received in that month's contest. There were no "incorrect" answers in the March contest. You could choose from among any of the three answers. The winners are then selected from among the entries received, and in March, there were 2,271 eligible entries. I hope that answer helps provide more background about how the contest process works.
Posted by: Mary Neubauer | March 23, 2021 at 03:37 PM
I was one of the 53% that answered the question march 15th the ? was Do You feel lucky,? I answered sometimes. So why isn't my name with the winners??
Posted by: ksea Parker | March 23, 2021 at 10:20 AM
Hi, Bob. I think you're referencing the changes made in April 2020 to the game's starting jackpot amount and the rate at which the jackpot increases between drawings. Those two figures are based upon sales and interest rates, with no fixed minimums.
Posted by: Mary Neubauer | March 22, 2021 at 09:00 AM
Hello, Has the Mega Million game ever going back to prizes we saw before covid? Seems that there sales have rebound and going by the last record jackpot they had a few months back its time too..
Or are they going to milk this out for a long time.When they made changes they sure didnt drop the cost of it!
Posted by: Bob Durand | March 19, 2021 at 05:14 PM