Playing the lottery often fills people with hope, thinking, “Maybe this time I'll win,” even though regular players usually only get a few dollars back. It's the dream of winning big that keeps many coming back. For one Virginia man, that dream came true in a way he didn't expect. Jose Flores Velasquez was thrilled to have won $600 on a scratch-off lottery ticket. However, when he went to claim his prize, he received an even bigger surprise: he had won $1 million.
According to NBC News, Velasquez visited the Virginia Lottery customer service center in Prince William County to collect his winnings. It was there that he learned the proper amount of his prize. The odds of winning the top prize in the 20X the Money lottery were 1 in 1,754,400, and Velasquez became the second top prize winner. The scratch-off game offers prizes ranging from $10 to $1 million. Winning any amount in the lottery is thrilling, but discovering you've won a million dollars instead of $600 is the moment that can bring joy, especially given the current economic climate.
Lottery winners typically can receive their prize as a lump sum or spread out over several years. Velasquez chose the lump sum option, which amounted to $759,878 before taxes—a significant increase from the $600 he initially expected. When asked what he planned to do with his newfound wealth, Velasquez told NBC News that he intended to care for his family and possibly start his own business.
Imagine thinking you've won $600, a nice little windfall, only to find out you've won $1 million. This situation is like something out of a sitcom: a man buys a $10 scratch-off ticket during a grocery run and becomes an instant millionaire. Witnessing the moment Velasquez received the life-changing news must have been unforgettable.
Had Velasquez opted for the payment plan, he would have received his prize over 30 years, totaling just over $30,000 annually before taxes. An extra $30,000 a year would be a welcome boost for most Americans, but given the choice between that and a lump sum, many people might choose the latter, as Velasquez did.
Velasquez hopes to establish a successful business and support his family with winnings. Additionally, the store where Velasquez bought his winning ticket, a Safeway supermarket, received a $10,000 bonus from the Virginia Lottery as a reward for selling the lucky ticket.