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Powerball’s $338 Million Ticket Sold in Passaic, New Jersey

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March 25 (Bloomberg) -- A winning $338 million Powerball ticket was sold at a Passaic liquor store, the executive director of the New Jersey Lottery said.

The ticket, whose after-tax value is $151,921,000 was sold at Eagle Liquors, Carole Hedinger told reporters at the agency’s headquarters in Lawrence Township. No winners have come forward to claim the prize, she said.

“Whoever they are, they should sign the back of that ticket immediately and put it in a safe place,” Hedinger said.

The March 23 drawing also had one $1 million winning ticket, sold in Mahwah, and five tickets that each will pay $10,000, according to a news release.

Powerball is a multistate lottery with 33 members.

New Jersey’s lottery contributed more than $950 million in revenue for education and state-run institutions for the fiscal year ended June 30. The proceeds, which are New Jersey’s fourth-largest revenue source, were about 3 percent of the state’s $31.7 billion budget.

U.S. states increasingly are relying on lottery revenue to shore up deficits, according to the Center on Budget and Policy Priorities, a Washington-based nonprofit group that researches issues affecting lower-income Americans.

Bloomberg Rankings last year found that Georgia’s lottery players are the biggest suckers in a nation that buys more than $50 billion a year in tickets for state-run games.

Players in that state, whose per capita income is about 10 percent below the U.S. average, are doing the most damage to their personal finances, spending an average $470.73 on tickets in 2010, or 1 percent of their personal income, while receiving the sixth-highest prize payouts, the Sucker Index showed.

New Jersey ranked sixth on the index.

To contact the reporter on this story: Elise Young in Trenton at eyoung30@bloomberg.net

To contact the editor responsible for this story: Stephen Merelman at smerelman@bloomberg.net