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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. 96 % chance that you will get back $116 or less 98. Don�t forget that a large prize will throw you into a top tax bracket.    First, we check the expected value of a ticket in the table that we calculated earlier.

There are nine possible configurations that will win something in the Mega Millions Lottery. Jackpots in the hundreds of millions of dollars range are not uncommon for Mega Millions and will likely become larger more frequently with these new game changes.

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The probability of success is thus: 20,800/302,575,350 = 0. It's strongly recommended that where there are large sums of money involved you seek expert tax advice. GAME RULES Ticket buyers must be 18 years or older. Rules vary according to the applicable laws and regulations in the jurisdiction where the ticket is sold, and the winner's residence (e.g. if a New Jerseyan wins on a ticket bought near their workplace in Manhattan). A ticket is not a valid winning ticket until it is presented for payment and meets the Commission's validation requirements. At $2,00 per ticket, the lottery takes in $800 million.

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Jackpots increase by a minimum of $5 million each time there is no winner. You win by matching the numbers drawn with the numbers on your Vermont Mega Millions ticket for that draw date. A player choosing this option is not eligible for any of the eight lower-tier prizes; therefore, the Megaplier option is not available for Just the Jackpot wagers. Mega Millions' previous format began on October 19, 2013; its first drawing was three days later. Match 3 out of 5 White numbers and match the Mega number (Payout = $200)    The number of ways 3 of the 5 first numbers on your lottery ticket can match the 5 White numbers is COMBIN(5,3) = 10. The Megaplier number is randomly picked using the probability table below.    If your state has a �Megaplier� and if your state follows the probabilities posted on the Mega Million web site, then a calculation can be made for the expected return if you pay an additional $1.

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00 to buy the Megaplier option, your expected before tax return is $0. Your play slip does not constitute evidence of a ticket purchase or of numbers selected. The first (The Big Game) Mega Millions drawing was held two days later, on May 17. Cash Value of a Game    If you win the Jackpot, you have the option of either accepting 30 annuity payments (A cash amount that is paid annually), or you can take a lump sum "cash value" payment. Chicago-based cable superstation WGN-TV simulcast Mega Millions drawings on its national WGN America feed immediately following WGN's 9pm (Central Time) newscast. Man Who Wins $5 Million Mega Millions jackpot winners will select their payment preference at the time of their prize claim. Share This Article: Percentages and other statistics listed on this page should be considered estimates.