Mega Millions Lottery Jackpot

The mega million jackpot ranks as the third largest prize in U.S. lottery history. If you have a winning ticket in this draw, you’re most likely going to get a lump sum of $780.5 million, or you can choose to receive payments over the next 30 years. The lottery winnings are subject to federal tax withholding of 24%, and the winner will likely owe state income taxes as well. In Illinois, winnings are taxed at 4.95% state income tax, but the winner of a Powerball jackpot in another state may owe more.

In one case, an office lottery pool won a $241 million Powerball jackpot, and the winner received a ten-thousand-dollar prize. In another, a lottery pool formed last-minute won a million-dollar prize after 20 years of play. Another lottery pool was formed in August 2018, and eleven officemates contributed $3 a week to win a $4.9 million prize. In another case, a group of lottery-playing co-workers split a $319 million Mega Millions jackpot.

The Mega Millions lottery has been growing for more than three months, and the odds of winning the top prize are one in 302.6 million. Mega Millions’ most recent jackpot winner claimed a prize of $20 million. Ultimately, this would rank as the fourth largest lottery prize in U.S. history. A person who wins this jackpot can choose to be anonymous. If the lottery jackpot reaches a record $1 billion, they’ll be the fourth largest lottery winner in history.