Lottery winners often feel compelled to spend their winnings, which may tempt them into living an extravagant lifestyle with their prize money. Unfortunately, taxes will take a large bite out of your winnings.
As is often the case, jackpot winners prefer to remain anonymous despite California’s public disclosure laws. Lottery officials notified Tuesday’s winner but their identity remains hidden from public view.
Mega Millions
On Friday, October 13, the Mega Millions jackpot was won by a ticket sold in Maine – making this second largest prize in its history and fourth time a billion dollars was won in Mega Millions history.
Mega Millions jackpot odds are one in 302.6 million and winning could lead to either cash or annuity prizes being collected upon. If you do manage to hit one, however, your prize can either be collected as cash or as an annuity payout option.
At present, the jackpot stands at $20 Million and resets back to that figure each drawing.
In order to win a Mega Millions jackpot, players must match five white balls and one gold Mega Ball drawn during a game’s drawing. Additional prizes can also be won by matching any combination of five white balls with any of the gold Mega Balls drawn during a draw.
Mega Millions takes place twice weekly on Tuesday and Friday and you can purchase single tickets for $2 or two tickets for $3 to make nine combinations of tickets up for grabs in addition to its $5 Million jackpot prize pool.
Powerball
Powerball lottery game is one of the world’s most beloved lottery offerings, offering jackpots that can change lives forever, as well as the option to multiply winnings up to 10x with Power Play. Played three times weekly — on Mondays, Wednesdays and Saturdays at 10:59 PM EST — it provides players with life-altering jackpots.
Jackpot prizes increase when a player matches five numbers from 1 to 69 and one Powerball number from 1 to 26 in an order that increases the jackpot value, increasing chances of success to 1 in 292.2 million.
Played across 45 states and Washington D.C. as well as Puerto Rico and the U.S. Virgin Islands.
Winners of the Powerball jackpot can choose to receive it either as an annuity or lump sum payment, both options requiring federal and local income taxes to be withheld from them.
In July 2022’s inaugural billion-dollar Powerball jackpot was won at an Illinois Speedway convenience store from one ticket that chose cash instead of annuity payments. No information regarding its identity has ever been made public as Illinois allows lottery winners to remain anonymous.
Megabucks
Megabucks from IGT slot machine game is an immensely popular choice among many players. It offers a substantial progressive jackpot that can be won with three Megabucks symbols on a pay line and wagering at least $3.00 per spin in order to be eligible for it.
The jackpot amount starts at $10 Million dollars and steadily grows until someone wins it! Each year the jackpot has been won at least three times; twice in 2016 and 2015 as well as once each in 2013.
Wisconsin Lotto players can take part in this popular pari-mutuel lottery, featuring one $1 ticket that provides two plays and offering some of the best overall odds, local winners and million-dollar minimum jackpots. You can choose either playing it alone or add EZ Match for increased chances at instant prizes; over time it returns around 63% of ticket sales to players!
Cash4Life
Cash4Life, launched in New York and New Jersey in 2014, allows players to win prizes by matching five white balls with a green Cash Ball – with top prize being $1,000 daily for life or an upfront payment of $7 Million!
Second prize in this nightly lottery drawing is $1,000 each week for life or a lump sum payout of $1 Million. Drawings take place approximately 9 p.m.
Tickets cost $2 per play and include an optional EZ Match feature that costs an additional $1; players in Missouri may choose Quick Cash for an additional dollar; ticket purchases must be made from an authorized retailer in their state of purchase.