PORTLAND, OR (KPTV) -
A Portland man is now a millionaire after claiming a $2.2 million Megabucks jackpot.
The prize went to Larry Sheller, who purchased the winning two dollar ticket at a 7-11 on SE 122nd Avenue. He won by matching six of his numbers for the July 11 drawing.
The winning ticket was one of 5,910 tickets earning a cash prize. Sheller manually chose the winning numbers: 1 – 7 – 11 – 13 – 31 - 37.
He decided to present his winning ticket at the lottery office, and then seek financial planning advice before completing the claim process for his prize.
Once a winner presents a winning Megabucks ticket, they have 60 days to decide which plan to choose for prize payment. The annuity plan guarantees 25 equal annual payments, whereas the Investment plan gives the winner a one-time payment equal to one-half of the advertised jackpot.
Sheller chose the annuity payment plan, and received his first payment in the amount of $58,960 after state and federal taxes were withheld.
He is the seventh Megabucks jackpot winner in 2012 and became the Oregon Lottery's 235th Megabucks millionaire.
Since the Oregon Lottery began selling tickets on April 25, 1985, it has earned more than $8 billion for economic development, public education, state parks and watershed enhancements. In that same period, it has paid its players more than $23 billion in prizes.
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