2023-07-25 22:37:03
The Mega Millions jackpot continues to increase. This August 1st, the jackpot stands at $1.1 billion ($550.2 million cash value), making it the fifth largest prize in the history of this lottery.
How to win the Mega Millions jackpot?
To play, each participant must choose SIX numbers: FIVE numbers from 1 to 70, which correspond to the white balls, and ONE number from 1 to 25, which corresponds to the golden Mega Ball.
To win the Mega Millions jackpot, players must match all six numbers. If several players match all six numbers, the prize is shared. It is important to mention that the jackpot is not the only one, since matching fewer numbers also earns money.
Mega Millions: How much money is won with 1, 2 or 3 correct numbers?
In addition to the jackpot, Mega Millions has eight other ways to win. Find out how much money is delivered for each number or hit:
5 Numbers + Mega Ball: Jackpot Jackpot 5 Numbers: $1 Million 4 Numbers + Mega Ball: $10,000 4 Numbers: $500 3 Numbers + Mega Ball: $200 3 Numbers: $10 2 Numbers + Mega Ball: $10 1 Numbers + Mega Ball: $4 Mega Ball: $2
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The odds of winning money in Mega Millions
Regardless of the amount of the jackpot, the chance of winning it is 1 in 302,575,350. These are the odds of winning any of the nine prizes:
5 numbers + Mega Ball: jackpot / 1 in 302,575,350. 5 Numbers: $1,000,000 / 1 in 12,607,306 4 Numbers + Mega Ball: $10,000 / 1 in 500,000 4 Numbers: $500 / 1 in 38,792 3 Numbers + Mega Ball: $200 / 1 in 14,547. 3 Numbers: $10 / 1 in 606 2 Numbers + Mega Ball: $10 / 1 in 693 1 Numbers + Mega Ball: $4 / 1 in 89 Mega Ball: $2 / 1 in 37
What happens if a player wins the jackpot?
The winner can choose to receive their money under two payment methods: annuities or a single payment in cash. It is worth mentioning that both options are without discounting taxes, so the winner would still have to pay them.
Annuity
The Mega Millions annuity consists of one immediate payment followed by 29 annual payments. Each payment is 5% higher than the previous one. This helps protect the purchasing power of winners in periods of inflation. In this modality, taxes are paid each year in which a new payment is received.
A single cash payment
This option consists of a single lump sum payment. Being a single payment, taxes are only paid once.
Mega Millions is played in 45 states in the United States, with the exception of Alabama, Alaska, Hawaii, Nevada and Utah. Also, this lottery can be played in the District of Columbia and the Virgin Islands. Mega Millions drawings take place every Tuesday and Friday at 11:00 pm ET. The cost of the ticket is $2.
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