Players of Oklahoma Lottery games must be 18 years or older to buy or redeem tickets, which can be purchased at almost 9,000 retailers throughout the state.
Once expenses are paid, the proceeds of the Oklahoma Lottery help to fund the state's K-12 public education (45%), tuition grants, loans and scholarships for attendees to colleges and universities (45%), Teachers' Retirement System Dedicated Revenue Revolving Fund (5%) and the School Consolidation and Assistance Fund (5%). In the fiscal year 2006 this amounted to $65 million into the state's education system.
Prizes of $600 and less can be redeemed at any Oklahoma Lottery retailer, or at one of the 14 additional authorized Oklahoma Lottery Claim Centers. You can also mail your ticket, signed on the back, plus a claim form, to the lottery's Oklahoma City headquarters. The 14 authorized Oklahoma Lottery Claim Centers can also cash winning tickets up to $5,000. Prizes more than $5,000 must be claimed at the Oklahoma City headquarters.
If mailing your winning ticket be sure to keep a copy of the front and back of all documents you send, and if it's a larger cash prize, it's advisable to send your claim by certified or registered mail. Prizes over $601 must be claimed in person at North Dakota Lottery headquarters.
Winners have 180 days after the date of the draw in which to make their prize claim. The first $500,000 per annum of unclaimed prizes is transferred to the Department of Mental Health and Substance Abuse Services. Any funds after that are either kept and placed in the prize pool, or used to help fund public education.
Prizes are not exempt from Federal tax, and by law, for prizes more than $5,000 won by US citizens Oklahoma Lottery must withhold 25% for Federal Income taxes. Additionally, for prizes over $5,000, a 4% state tax is withheld. All prizes over $600 must be reported to Inland Revenue.