Craigory Burch Jr, 20, scooped almost half a million dollars in the Georgia state lottery Fatasy5 draw in November.
On Thursday night, armed raiders broken into Burch's home, where he was with his girlfriend and children, WALB reported.
The three masked robbers burst into the property and held Burch at gunpoint and demanded his wallet, girlfriend Jasmine Hendricks said.
She told the local station: "When they came in, he said, 'don't do it bro. Don't do it in front of my kids. Please don't do it in front of my kids and old lady'.
"He said I'll give you my bank card."
Burch is then believed to have thrown his trousers at the gunmen, who rummaged through the pockets looking for his wallet.
When they failed to find it, they reportedly shot and killed him before fleeing.
Hendricks fled and raised the alarm, she told the station.
Police are still hunting the suspect.
Burch scooped the $434,272 (£305,000) jackpot after buying the winning ticket from a petrol station on November 29.
His family said he used the money to buy Christmas presents for those in need.
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