Americans spend more than $70 billion on lottery tickets each year, but do you know what your options are if you win?
The winning numbers for a nearly $1 billion Mega Millions lottery prize will be drawn Friday night, offering sudden riches to any lucky player who matches them and almost certain disappointment for everyone else.
HOW DO I PLAY? Players can buy tickets for $2 and select six numbers from separate pools. Five of the selections come from one pool, with different numbers from 1 to 70, and the other is for the Mega Ball, with numbers from 1 to 25. Some states also give players the option of paying more for different options that increase payouts or give people extra sets of numbers.
Before forking over the money, lottery officials also would deduct 24% for federal taxes. The final tax bill could ultimately be higher though, as some of the winnings could be subject to the top federal tax bracket of 37%. State taxes also could be assessed, depending on where a player bought the winning ticket.There also is a chance that more than one person will buy a winning ticket — as in 2016, when there were three winning tickets for a $1.6 billion lottery jackpot.
During the current stretch, there hasn't been a jackpot winner since Dec. 8, 2023. That's 29 consecutive drawings without someone matching all the numbers.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mega Millions and Powerball Jackpots Continue to GrowBoth Mega Millions and Powerball jackpots have reached significant amounts after multiple rollovers. The Mega Millions jackpot is currently estimated at $875 million, while the Powerball jackpot stands at $600 million. The last Mega Millions jackpot was won on December 8, 2023, in California, and this is only the sixth time in the game's history that the jackpot has reached such a high amount. The odds of winning the grand prize in Mega Millions are 1 in 302,575,350. Powerball tickets are also available for $2.
Read more »
Mega Millions soars to $875 million, Powerball hits $600 millionMega Millions players have a 1 in 302.6 million chance of taking home the jackpot. The chances aren't much better for the Powerball jackpot.
Read more »
Mega Millions jackpot soars to $875 million; Powerball reaches $600 millionIf you're feeling some St. Patrick's Day magic, you might want to buy a lottery ticket. Mega Millions and Powerball have racked up some massive jackpots after weeks of rollovers.
Read more »
No Mega Millions jackpot winner as prize pot soars to $875 millionMega Million's jackpot prize rose to nearly $800 million for Friday night's drawing. There have been 27 consecutive drawings without a winner.
Read more »
Powerball jackpot grows to $687M, Mega Millions soars to $875M while Pa. Lottery upgrades systemIf you're feeling some St. Patrick's Day magic, you might want to buy a lottery ticket.
Read more »
Mega Millions ticket worth $1.7 million sold in California as jackpot soars to $977 millionNobody has won the Mega Millions jackpot but someone in California still got pretty close.
Read more »