Winning the lottery is a dream many people have, and for James Farthing from Kentucky, that dream has just come true. Over the weekend, he won the largest jackpot in Kentucky Lottery history. But because of certain rules, he will lose a big part of his prize to taxes.
How James Farthing Made History
At first, no one knew who the lucky winner was. But it has now been confirmed that James Farthing walked away with an incredible $167.3 million prize. This win is much bigger than the previous record of $128.6 million, which was won in 2009.
James’s journey to winning the jackpot started just like any other day. He stopped at a gas station in Georgetown, a place he visits often, and bought a lottery ticket. He said he often buys tickets because he believes, “somebody’s gotta win.”
A Life-Changing Call from Mom
James found out about his win thanks to a call from his mother, Linda Grizzly. She had heard from the gas station worker, Mitch Bowling, that the winning ticket was sold there. Linda quickly called and texted her son with the exciting news. Mitch also confirmed that he sold the lucky ticket, saying it was an “unprecedented” moment for him too.
James, staying humble, simply said, “You gotta play to win,” showing that even simple hopes can lead to life-changing moments.
The Big Decision: Lump Sum or Annuity?
Even though James is celebrating, he now faces a big decision about how he wants to receive his prize money. First, he needs to take his ticket to Louisville to get it verified officially. After that, he has two options:
- Take all the money at once in a lump sum
- Take the money in yearly payments over time, called an annuity
If James chooses the lump sum, 24% of his winnings will be taken immediately by the IRS. This means he will lose about $40,152,000 right away, leaving him with around $127,148,000.
If he chooses the annuity, he will get smaller payments each year, and the taxes will be taken out little by little. Kentucky also lowered its lottery tax rate from 5% to 4.45% in 2023, which could help him save a bit if he chooses the annuity option.
A Win That Affects the Whole Community
James Farthing’s win is not just personal. Kentucky Lottery officials, like President and CEO Mary Harville, say it’s an important moment for everyone. It brings excitement to players, retailers, and the whole community, inspiring more people to take their chances.
James’s amazing story shows that anything is possible, even on an ordinary day. Whether he chooses the lump sum or the annuity, his life—and Kentucky’s lottery history—has changed forever.