Achi news desk-
Want to be a billionaire?
Mega Millions announced that its next jackpot on Tuesday will be an estimated $1.1 billion after nobody won the big prize on Friday night.
The winning numbers for Friday night’s jackpot, which had a jackpot of $977 million, were 3, 8, 31, 35, 44 and a MegaBall of 16. The Megaplier is 3x.
Tuesday’s upcoming jackpot will be the eighth-highest lottery jackpot ever, surpassing the $1.08 billion Powerball jackpot won in Los Angeles in July of last year.
The $1.1 billion represents three months of no one winning the Mega Millions jackpot. The jackpot also comes with a lump sum cash option estimated at $525.8 million.
Mega Millions offers jackpot winners the option of receiving a one-time cash payment, or the full $1.1 billion to be paid in 30 payments over 29 years. Most people choose the cash option.
The largest Mega Millions jackpot ever, worth $1.602 billion, was sold on August 8, 2023, in Florida.
Lottery jackpots grow so big because the chances of winning are so small. For Mega Millions, players have a 1 in 302.6 million chance of taking home the top prize.
This is only the sixth time in the almost 22-year history of the Mega Millions game that the jackpot has ever exceeded $1 billion.
And, lottery winnings don’t come without taxes.
There is a mandatory federal withholding of 24% for earnings over $5,000 that goes directly to the IRS. Some states tax lottery winnings as well, but states like California, Florida and Texas do not, at least initially as income.
“The lesson didn’t really go according to plan.” Maths teacher Nicholas Kapoor bought a Powerball ticket to show how unlikely it is to win the lottery – and then won $100,000. Here’s what he wants you to know about playing the Powerball.
