S. Oregon couple win $4.1 million jackpot
Don and Betty Gaeden of Central Point kept their winning $4.1 million in Oregon’s Game Megabucks? ticket a secret for more than a month before claiming their prize this week.
“After we found out, we just went on like nothing had happened,” said Don Gaeden during the winner claim process. “We wanted to make sure we were ready.”
The Gaedens talked with a financial planner before making the trip to Salem, to find out the best way to collect their winnings, and learn about the tax implications of winning such a prize.
They opted for the lump sum, instead of 25 annual installments, and walked away with $1.37 million after taxes.Winners who opt to take the lump sum payment get half of the advertised amount of the jackpot.
Don Gaeden is retired and his wife works in a Medford-area hospital.
Gaeden and his wife join an increasing number of winners from Southern Oregon, including Don Ross from Jacksonville, who won $1 million in Powerball® nearly one month ago.
Like Ross, the Gaedens say they aren’t going to be changing their lifestyle that much. The couple said the only big purchases they had in mind are new tires and some drapes.
“We were having work done on the backyard before this happened, so this will help finish that,” Gaeden said.
Don Gaeden is the 243rd millionaire created by Oregon’s Game Megabucks. He took advantage of the 26 plays for $25 special for the winning ticket at the Roxy Ann Lanes in Medford.
Every Monday, Wednesday and Saturday Oregon’s Game Megabucks is drawn. While the jackpots are smaller than the national draw games, it’s a local game where the revenue stays in-state.
“I checked the ticket in the local newspaper and didn’t believe it, so I checked the lottery’s website,” Don Gaeden said. “When I told my wife, I handed her the paper and the ticket, her first comment was to check it on the lottery’s website to make sure it wasn’t a mistake.”
The Oregon Lottery reminds players to always sign the back of their lottery tickets, regardless of the game. In the event of winning a jackpot, they should consult with a trusted financial planner or similar professional to develop a plan for their winnings. Prize winners of more than $50,000 should contact the Lottery office to schedule an appointment to claim their prize.
Since the Oregon Lottery began selling tickets on April 25, 1985, it has earned over $9 billion for economic development, public education, state parks and watershed enhancements. For more information on the Oregon Lottery visit www.oregonlottery.org
