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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. Find out just how much you will get from the Powerball and Mega Millions lotteries. For example, for an advertised jackpot of $200 million, the initial payment would be approximately $3 million, with future payments growing to as much as $12.

However, this means the jackpot can grow to surpass the billion-dollar mark with relative ease. A cash value option (the usual choice), when chosen by a jackpot winner, pays the approximate present value of the installments. However, almost all jackpot winners take the cash option that is paid in one lump sum that, on average, is 60% of the advertised jackpot.

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SLH files tracking these games, which start over from the new format. Follow the instructions on the Claim Form to submit your claim. If we follow the 700 million ticket row to the right until we reach the $600 million column, we find an expected cash jackpot value of $1.

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Before the January 31, 2010 cross-sell expansion, Mega Millions was the only multi-jurisdictional lottery whose drawings were carried nationally, instead of airing only on stations in participating jurisdictions. 5%      48,431,551        1,505,144          6,195,375   5. 6 million — which is about the same as the first prize jackpot odds of a 6/48 game.

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This "guarantee" did not carry over to the following version of Mega Millions, although the $1 million second prize became $5 million if the Megaplier is 5x. Versions of (The Big Game) Mega Millions[edit] Versions of The Big Game and Mega Millions have used different matrices: Megaplier[edit] Mega Millions players have the option to activate a multiplier, called Megaplier, in 45 of its 46 jurisdictions; it is functionally similar to Powerball's Power Play. (Neither Megaplier nor Power Play are offered in California because its state penal code distinguishes between a "lottery" in which the bank cannot be "broken", and a "banked game" whose bank theoretically could be broken; only a "lottery" was authorized by the state Lottery Act.) By doubling the wager in a Mega Millions game to $2, players have an opportunity to multiply any non-jackpot prize by 2, 3, 4 or 5. 8 Million 10/10/2017 Billy Spurlock Costa Mesa, CA $1 Million 9/26/2017 David Budnick & Roger Wingo Henrico, VA $105 Million 9/22/2017 Wayne Harris Homer, NY $1 Million 8/18/2017 Leonard Bulmer Albuquerque, NM $393 Million 8/11/2017 Patricia Busking Palos Heights, IL $1 Million 8/8/2017 District 150 New York, NY $1 Million 8/4/2017 Paul Kuharevicz Muskegon, MI $1 Million 8/1/2017 Katherine Dorazio Levittown, NY $1 Million 8/1/2017 James Deal Harrisonburg, VA $1 Million 7/21/2017 Dana Nystrand & Matt Hazzard Richmond, VA $1 Million 7/18/2017 Michelle Faysal Ontario, Canada $1 Million 6/27/2017 Jaime De Jesus Osorio Ocampo Queens, NY $1 Million 6/23/2017 Huisun Cho Bayside Queens, NY $0. There are nine possible configurations that will win something in the Mega Millions Lottery. The most recent additions to Mega Millions were the U. 81 % chance that you will get back $80 or less 89.