Mega Millions Jackpot Reaches Nearly $1B

mega millions
Mega Millions ticket | Image by Chip Somodevilla / Staff/Getty Images

The Mega Millions jackpot continues to skyrocket as the “lucky” ticket has yet to be drawn.

A nearly $1 billion prize is on the line Friday night after three months of drawings without a winner. If the winner chooses a lump sum payment rather than an annuity, the winnings would be an estimated $461 million.

Thanks to 29 straight drawings without a winning ticket, the massive prize makes this the sixth-largest lottery at stake in the history of the Mega Millions game. The last time the Mega Millions jackpot was hit was December 8, when two ticket-holders from California guessed the correct numbers, splitting $394 million.

The prize is subject to federal taxes, which are automatically deducted before the money is paid to the winner. Most states also collect taxes on the player’s windfall, but Texas is one of the few states without an income tax requirement, so lottery winners in Texas can actually take home a larger share of the prize money than winners in most other states.

In September 2023, an anonymous Florida resident collected a $1.6 billion jackpot, the second-largest ever won in U.S. history and the largest jackpot in the history of the Mega Millions game.

While it might be first instinct to brag about massive lottery winnings, some winners strive to remain anonymous, keeping a very large secret between them and a fortunate few. Some states require the winners’ names to be disclosed, whereas others do not. Florida has a 90-day anonymity policy, after which the winner’s name will be released to the public.

In Texas, any winner of $1 million or more can choose to remain anonymous. The winner must specify their choice on the appropriate form when claiming their prize, according to the Texas Lottery and state law. Winners of smaller amounts are listed online.

Nearly 2,000 Texans have won over $1 million playing the lottery, some of whom you may even know.

Mega Millions tickets cost $2 each, and drawings take place every Tuesday and Friday at 10:12 p.m. CT.

Support our non-profit journalism

Submit a Comment

Your email address will not be published. Required fields are marked *

Continue reading on the app
Expand article