MARCO SCHIAVO says his client plans to use some of the winnings to buy real estate.
DORCHESTER – Simmons & Schiavo Lottery Trust 2023-28 of Woburn, represented by trustee Marco Schiavo, yesterday claimed the first $25 million grand prize in the Massachusetts State Lottery’s $50 “Billion Dollar Extravaganza” instant game. It is the largest instant “scratch and win” prize ever awarded in Mass Lottery history.
The trust selected the cash option on its prize and received a one-time payment of $16,250,000 (before taxes). Schiavo said that his client plans to use some of their winnings to purchase real estate and invest.
The winning ticket was purchased at Speedway, 709 McGrath Highway in Somerville. The retailer receives a $50,000 bonus for its sale of this ticket.
Two $25 million prizes remain in the “Billion Dollar Extravaganza” game, the Mass Lottery’s first $50 instant ticket. Seven of the game’s 15 $1 million prizes have been claimed to date. All five of the game’s $2 million prizes have yet to be claimed.
Since “Billion Dollar Extravaganza” went on sale Tuesday, February 7, over 12.6 million tickets have been sold, including over 3 million winning tickets totaling over $485 million in prizes.
In addition to its robust offering of instant win prizes, the $50 game also features 10 second chance drawings, allowing players to enter non-winning tickets for opportunities to win cash prizes ranging from $100 to $50,000. Four drawings have been conducted. The dates of the remaining drawings will be determined based on sales of the ticket.
With over $1.2 billion in total prizes and an overall prize payout of 82.0 percent, “Billion Dollar Extravaganza” has the largest amount of total prize money and the highest payout percentage of any game ever offered by the Mass Lottery. The odds of winning a prize in the game are 1 in 4.10.
