If you win the jackpot lottery, you can choose to take the cash in a lump sum or opt to receive payments over a number of years. Mega Millions jackpot winners can choose to receive the cash in a lump sum, while Powerball winners can choose to receive payments over a longer period of time. According to Lisa Kirchenbauer, a certified financial planner, it’s best to work with a team of experts to make sure you’re getting the most from the money.
Mega Millions jackpot has been won in April
Since its start on January 28, the Mega Millions jackpot has increased to more than $1 billion in value. This is a significant jackpot win considering the odds of winning it are around one in 302.6 million. Mega Millions has also won two jackpots in less than a week: $110 million on April 12 and $20 million on April 15.
The winning ticket is from a married couple from Minnesota, who have been playing the lottery since 1990. Both have chosen to remain anonymous. The husband played the game for the first time on his first date, while the wife has been playing the same numbers since she bought the ticket. This year, they have started playing the game more often.
The most recent jackpot was won in Illinois on July 29th. The winner of the last jackpot was a couple from Hennepin, Ill. They claimed a prize worth $134 million. The jackpot has also been won in other states, including Tennessee and Illinois. In December 2009, Richard and Mary Morrison won $165 million, while Steve Williams won $200 million in October. The other jackpot winners in April were Kevyn Ogawa of Minnesota, and a family from Lake Havasu City, Arizona.
Mega Millions payouts increased from $95 million to $141 million
Mega Millions is a multi-jurisdictional lottery game. It is offered in 45 states, the District of Columbia, and the U.S. Virgin Islands. It was initially offered only in six states. Its logo features a gold ball with six stars. Some lotteries also insert their logo into the ball.
In 2005, Mega Millions was launched in California. To mark the state’s participation, a Mega Millions drawing was held in Hollywood. The drawing was conducted by Glenn Burns, who was assisted by Carrie Underwood. A press conference was scheduled the next day.
The prize structure for Mega Millions has also changed. The new prize structure allocates 68 percent of the prize pool to the jackpot, rather than the usual 75 percent. Since October 28, 2017, Mega Millions has offered a second option to Mega Millions members – $3 for two games. Players who choose this option don’t receive the lower prizes or the Megaplier option.
Unclaimed jackpot prize money stays in a lottery fund
Depending on where you live, the lottery will keep your jackpot prize money if you do not claim it within a set period of time. In Minnesota, for instance, you have until March 17 to claim a $1 million prize. That prize, equivalent to matching five out of six numbers, is small in comparison to the jackpots of some Mega Millions and Powerball games.
According to Maryland lottery statistics, more than $20 million in jackpot prize money goes unclaimed each year. These unclaimed prize funds are collected by the state’s Lottery and Gaming Control Agency. This money is used to supplement prizes in other lottery games. In the last three years, instant game winnings made up a majority of the unclaimed prize money. That’s because these prizes are much smaller than big jackpots and can easily be forgotten about. The next-largest unclaimed prize money came from Powerball, Pick 3 and Pick 4. Then, there was the Mega Millions jackpot, which topped $1.586 billion in January 2016.
Many states are different in how they use the money from jackpot prizes. Some use it for state revenue, while others use it for promotions and jackpot additions. In Kansas, for example, the lottery fund keeps unclaimed jackpot prize money, so that it can be used for future games. Louisiana follows a similar practice.