Largest lottery jackpot winner in New York state history
Includes video report
A New York man has claimed half of a $687.8 million Powerball lottery jackpot, becoming the largest lottery winner in New York state history.
Robert Bailey has been playing the same six lottery numbers for 25 years and plans to keep on doing it — even though his digits finally hit for a $343.8 million Powerball win, the largest in New York Lottery history.
Bailey, 67, was introduced by lottery officials Wednesday as the record-breaking winner at the Resorts World Casino in Queens.
The total prize in the Oct. 27 drawing was nearly $700 million, but he will split the jackpot with a woman in Iowa who also picked the winning numbers, 8, 12, 13, 19 and 27, with a Powerball of 4.
(See Iowa single mom claims half of $687.8 million Powerball lottery jackpot, Lottery Post, Nov. 6, 2018.)
Bailey bought his winning ticket at a deli in Harlem. He usually buys tickets at a few different stores, but on this particular day, it was raining and he was visiting a friend, so he ducked into the deli and grabbed a Powerball ticket.
After checking the winning numbers that night online, he was shocked.
"I said to myself, 'These look like my numbers.' I tried to remain calm and sat down to watch some shows I had on my DVR. I didn't sleep the rest of the night," Bailey said.
Bailey, a retired federal government employee, said he got the lucky numbers from a family member years earlier. The most he had ever won using them previously was $30,000 from a lucky Take Five lottery ticket.
"I will continue playing my numbers until this train runs out," Bailey said. "I'm going to ride this out; I can't stop now."
Bailey didn't come forward to claim his prize until after he met with a lawyer and financial adviser. He took a lump sum payment worth $198 million, less after taxes.
New York requires lottery winners to identify themselves and participate in a news conference. Bailey, who wore dark sunglasses for the announcement, said he wished he could have kept his win quiet.
"It's a good life changer," said Bailey, who declined to describe the nature of his government work before retiring. "I plan to do the right thing with the money."
He wants to buy some land and a house for his mother and set up some good investments to take care of the next generation of his family. He'd also like to travel, hitting Las Vegas and parts of the Caribbean.
Ultimately, though, he'd like to give back.
"I plan to give back to Manhattan; that's where I'm from," Bailey said. "I still want to be me. I can't let money change me. I'm going to keep doing the right thing."
This is the second consecutive Powerball jackpot won in New York this year. The most recent win came in September when a Staten Island man won the $245.6 million jackpot.
The chance of winning the Powerball jackpot is 1 in 292.2 million.
VIDEO: Watch the report
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25 years playing the same number? I'd say it paid off Big Time!! Congrats!
$10 Investment Turned Into $343.8 Million.
Robert hired a lawyer and a financial adviser. Smart move. He now needs a bodyguard as he says.
Robert did not say where he hid his winning ticket.
Self-picks win again big time.
l noticed that Robert mentioned “ do the right thing “...twice. He started good by not immediately coming forward. The next right thing: meeting with an attorney & financial planner. Keep following that yellow brick road Bobby.
* The last thing, which is out of his control: Being close to water!
Excellent feel good story and enjoyed the video with the ever positive Y O L A N D A. NY struck gold when the hired her; looking good for almost 63.
noise-gate, are you inviting Robert to "White Shores" as in Seychelles? Maybe he doesn't like flying and hates water.
I thought I am going to win in my 25th birthday in NYC but he took my win
Congrats my man enjoy
Plenty of lotteries in Manhattan/New York to choose from and WIN!!
Come awwn Thrifty, it's really you this article is about.. admit it
There were lots of drawings in the 25 years he played "his numbers" making it much more than just a $10 investment.
I was just watching Yolanda award the big Power Ball winner.It was sad the guy after all taxes and crap .The guy banked only $125,396,690.00 from $343,000,000.00 with 2 winners starting at $688,000,00..
The American Revolution was fought over Taxation without Representation. The King and his military lost.
When the American voter learns how powerful their vote is then changes occur. Peacefully.
Remember how you vote with your dollar. Each dollar spent says Yes to this and No to that.
Poor guy with "only" $125Million in the bank
Congrats.
It does not appear that Robert is sad, in fact he seems pretty content in banking ONLY $125 million.
l do not invite total strangers on a trip with me music*, whether they millionaires or not. After all, l have standards.
and so do they.
noise-gate, Excellent answers to both of us LP members. Loonasee2 and me. Thank You.
Are you ready to win MM tonight? and PB tomorrow night?
I think they are decent sized amounts.
Good Luck to you!
The $343 mil was the annuity value of his half of the jackpot.
The cash value was about $195 mil before taxes.
The $125,396,690 is what he will receive after they take out 24% for IRS and about 12% for NY City and State.
He will still have to pay more taxes on April 15, 2019. The difference between what the lottery withholds for Fed, State and City taxes and his actual amount due when he files his tax return.
The Winning Combination: Play the Same Numbers for 25 Years and Luck of the Draw!
Will he get anything back in his tax return ? Please explain how much more he will have to give next year
Don't know about city and state.
But he is in the 37% federal tax bracket, so depending on his deductions, etc., he will pay the difference between the 24% and 37%, or 13%.
But he already paid 37 percent ? So he have to pay again ? And will he get anything back in tax return ?
24 % was already deducted along with city and state tax. have to pay the rest of the 37 % next year.
Will he get back anything in tax return ?
music*, IMHO would know about this. He can set up tax deductibles to help out with this. There are so many variables to consider; his tax attorney can be a tremendous resource for this.
Why dont you go to the Powerball Jackpot Analysis for Sat Oct 27th on USAMEGA & see for yourself.
The breakdown is all there. These winners each started off with $396,200,000 each.
A 24% Federal Tax deduction of $95,088,000 was taken out of the original total. Since the winners fall in the 37% Tax bracket- they have an additional 13% Federal Taxes due to be paid in 2019. Whether they get money back is up to the Fed's & the State. It's just common sense.
Am l ready to win? Do you use an umbrella when it's pouring with rain? Do NFL players play the game without helmets?
"It's just common sense."
BTW Massachusetts Season Tickets go on sale this week from 05 JAN 19...just doing Mass Cash this time around...
...this week THROUGH 05 JAN 19...
Bleudog101, You are correct with your advice to hire a tax attorney. The attorney may know more ways to save on taxes legally. You will definitely be able money wise to afford all the help you will ever need.
if i win the prize ,iam willing to do so
i have to have a correct reason can i ask a lawyer to help me ??
If a Tax Attorney says NO to you than find an excellent CPA. Certified Public Accountant.