South Carolina Is One Of The Few States Where Lottery Winners Can Do This

The Powerball jackpot was at $1.55 billion Monday night. South Carolina is one of the few states where lottery winners can do this. If someone hits the jackpot in South Carolina, they can collect their winnings anonymously. Staying anonymous depends on what state you live in.

There are 10 states that allow lottery winners of any prize size to remain anonymous: Delaware, Kansas, Maryland, Mississippi, Missouri, Montana, New Jersey, North Dakota, South Carolina, and Wyoming.

In Minnesota, a prize must be over $10,000 for someone to remain anonymous. In Arizona, a prize must be over $100,000 for someone to remain anonymous. Georgia and Illinois require prizes to be over $250,000 for someone to remain anonymous.

Meanwhile, Texas and West Virginia require prizes to be over $1 million for someone to remain anonymous, and Virginia requires a prize to be greater than $10 million.

So when you win how much will you end up putting in your pocket? According to My Fox 8, you’re going to see a decent chunk of your jackpot withheld for taxes.

Though there are some states that do not have a state lottery tax withholding, they all must withhold 24% in federal tax on prizes as large as this jackpot. With additional taxes, you’ll see roughly 37% of your prize money withheld, should you win.

If you’re a single-filer when it comes to federal taxes, you’ll receive $428.1 million if you opt for cash. or $977.6 million after all 30 annuitized payments. This is true for the nine states that do not have a local lottery tax.

Either way, you will be a very wealthy person. Taxes do take a chunk of that money away.

So what state would you win the most and where would you win the least?

If you won in Arizona, you'd get the most money. The prize would be about $411.3 million for the cash option or $938.9 million with regular payments.

A winner in New York would lose the most to taxes, seeing a cash payout of roughly $354.2 million or $808.7 million with payments.

What would you do if you won big in the lottery? I know the shock may surprise us all and put us in a daze for a second, but at some point, we've got to spend the money. So, what are we buying first? Well, let's start with finding a way to win the big prize first.

Lotto Edge is naming the top South Carolina lottery scratch-offs that you could play. Scratch-offs are some of the people's favorites to play throughout the years. Nice and quick and either you win or you don't but you find out pretty instantly. How do you pick which scratch-offs you play? Each scratch-off has its different odds of winning and it's good to know those odds to be able to help better your chances to win. Check out what Lotte Edge is naming as the top South Carolina lottery scratch-offs. Here are 6 out of the 10 that have the best overall odds of winning. Check out the full list here and see which other scratch-offs aren't listed below.

The 100X scratch-off is coming in at No. 6. The ticket costs about $1 each for you to be able to purchase to play. Your overall odds of winning are about 1 in 3.48. Not so bad, right? Win possibly $300,000 or more when playing this infamous scratch-off game in South Carolina. What would be the first thing you would purchase with that kind of grand prize?

Why not play King's Ransom up next? With King's Ransom, you have a possibility with a 1 in 3.47 odds of winning this lottery game. The ticket costs only $10 so talk about profit margin if you win big with this scratch off. Might as well give it a try.

Come on, $500,000 sounds like a good time! If you play the $500,000 Multiplier Money then you could really win big with this one. Only costing you $10 per ticket, you have the chance to win with a 1 in 3.44 odds of winning.

Coming in at No. 3 is another famous one that people love to play. The Mighty Jumbo Bucks scratch off is one of those ones that people love. Only $10 per ticket, you have the possibility to profit pretty BIG. You will have a 1 in 3.40 odds in winning this grand prize.

The prizes are getting bigger and the odds are getting better. Spend just $10 and you have the chance to be a million-dollar winner. Now, a million dollars can really do some crazy things to your life. With a 1 in 3.23 chance of winning, a million dollars could be yours!

Now, if you thought a million was a great time then what about $2 million? That's right, the Fastest Road to $2 million scratch off is the number one spot. With a 1 in 3.06 overall odds in winning, this could be the best chance for you to win big. It's the #1 scratch off for South Carolina.