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Annual payments for Mega Millions® are not equal. 75, the odds of a 4 being selected are 1:5, and the odds of a 5 being selected are 1:2. The best piece of advice regarding tax laws is: If you win a large amount of money playing the lottery, get in touch with the relevant jurisdiction officials to advise you on what you'll be expected to pay. Tickets have to be replayed within 30 days of purchase of the original ticket.

The calculated value of a ticket includes the possibility that you will share the Jackpot with someone else.    The first calculation is: �What is the probability that the jackpot will be won?� This is simply (1. 9 million (as noted below, interest rates change, resulting in different ratios between the cash values and annuity values of jackpots). Jackpots could be claimed only via the annuity option.

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The jackpot prize shall be paid at the election of the player no later than 60 days after the player becomes entitled to the prize with either a per winner annuity or one-time cash payment. And the chances of winning both, for those of you thinking really big? Under the current version's regulations (which began October 28, 2017 with the first drawing October 31) for Mega Millions, the minimum Mega Millions advertised jackpot is $40 million, paid in 30 graduated yearly installments, increasing 5 percent each year (unless the cash option is chosen; see below for differences by lotteries on cash/annuity choice regulations.) The jackpot increases when there is no top-prize winner[1] (see below for information on how the Mega Millions jackpot is funded.) As of December 13, 2017, there has yet to be a jackpot winner under the current Mega Millions format, including wagers for the newly created Just the Jackpot option. Both drawings were removed from WGN America in late 2014 when it ceased carrying WGN's newscasts.[39] Two machines are used in each Mega Millions drawing.

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The overall odds of winning a prize were 1 in 14. But, this is still a very popular game due to the draw of very high jackpots. The current version of Mega Millions uses a 5/70 (for the white balls) plus 1/25 (for the "Mega Ball") double matrix to select its winning numbers.

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For a typical jackpot of $100 million, the initial payment would be about $1. Louis, MS $536 Million 7/8/2016 Warren D, LLC Cambridge City, IN $1 Million 7/8/2016 Marcus Gonzalez Sharon, MA $1 Million 7/5/2016 Dana Pelletier Coral Gables, FL $5 Million 6/17/2016 Billy's Bunch Harrisville, RI $1 Million 6/10/2016 Wilmington co-workers Wilmington, NC $1 Million 5/27/2016 Richard Hopper Sr. For the rest of this web page, we will just refer to these exact values as "about one half" instead of the above exact values.    As an example of scaling for different sized Jackpots, if the interest rate is 4% and the advertised annuity Jackpot is $300,000,000, then multiply the results in the 4% row by 3 to get the corresponding instant cash payout amount or annual annuity payout amounts. 41 % chance that you will get back $68 or less 69. The "Megaplier" option (which again is not offered in California) was retained, with an adjustment to its multipliers. (The final jackpot for the $1 version was $30 million, which was not won; the initial jackpot for the new version would still be $40 million with a jackpot hit.) Mega Millions prize tiers effective October 28, 2017 (changed amounts in boldface) for a $2 base play (except prizes won in California): 5+MB: Jackpot; starting jackpot raised to $40 million (annuity value) 5+0: $1,000,000 ($1,000,000) 4+MB: $10,000 ($5,000) 4+0: $500 ($500) 3+MB: $200 ($50) 3+0: $10 ($5) 2+MB: $10 ($5) 1+MB: $4 ($2) 0+MB: $2 ($1) The new prize structure allocates roughly 75 percent of the prize pool for the jackpot; this is, in part, to facilitate the new Just the Jackpot option. How to Claim ➞ IT'S EASY TO PLAY PICK YOUR NUMBERS Choose 5 from 70 and 1 from 25 numbers for Mega Millions. Perseverance Pays Off For MEGA Millions Winner ; On a Friday night, Mark White matched five of six numbers to win a prize worth $219,900. How to Play Mega Millions and Its Odds & Prizes Steps on Taking Part in Mega Millions Pick five main numbers from a set of 1-70 and one Mega Ball number from a set of 1-25. If selected, “MEGAPLIER YES” will appear on the ticket.