Jackpot winners have the choice of receiving their prize either in one single lump sum payment, or once a year with the annuity option (30 payments over 29 years). They have 60 days to decide which way they want to be paid. During these 60 days, a player who originally opted for the annuity payment is able to instead take the lump sum payment option. If they do not make a choice either way, after 60 days, the player will automatically receive their prize as an annuity.
US Powerball is without a doubt the biggest lottery game in the world! Powerball set a world record when it awarded a $1.58 billion jackpot prize in January 2016 to three lucky winners. Powerball came close to breaking that record when it awarded a $758.7 million jackpot in August 2017. Previous huge jackpots include the $590.5 million jackpot awarded in May 2013 and the $564.1 million prize awarded in February 2015. Play Powerball online right now for the chance to become the next big American lottery winner!
When you play Mega Millions online and match all five main numbers plus the Mega Ball, and you will be entitled to your share of a multi-million dollar jackpot. Mega Millions’ starting jackpot is $40,000,000. Its personal best was also a world record for four years; it awarded a $656 million jackpot in March 2012. One third of this huge prize was won by the 'Three Amigos', three members of what is possibly the most famous winning lottery syndicate.
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Lottery winners can choose to receive the money in either an annuity — annual allotments over 30 years — or to get it all at once in a single payment for a smaller amount. For example, the lump sum on the $502 million jackpot would be $301 million, according to lottery site USAMega.com. If a single winner takes the single payment, the federal tax withholding would be over $75 million. Then, there are state taxes too.
You do not have to be a U.S. citizen or U.S. resident to play Powerball®. Players from jurisdictions where Powerball tickets are not sold, either in the United States or outside the country, can purchase Powerball tickets from a retailer licensed or authorized by the selling jurisdiction, if they meet the legal age requirement in the jurisdiction of purchase. Federal and jurisdictional income taxes may apply to any claimed prize money.
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Remember, the advertised Mega Millions jackpot is the annuity jackpot, which means it's the amount that you would receive if you were to opt for the money to be paid out over 29 annual payments (plus a one-off initial payment). 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 $12.4 million per annum. 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.
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; except the latter cannot multiply second prize by 5. (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 adding $1 to a basic Mega Millions game, to $3, a player has an opportunity to multiply any non-jackpot prize by 2, 3, 4, or 5. The Megaplier is drawn by the Texas Lottery (before the cross-sell expansion on January 31, 2010, it was the only lottery to offer Megaplier), which is drawn by a random number generator (RNG). The odds for each Megaplier possibility are not uniform.
Giant Lottos offer Quick Pick, Manual, Syndicate and Bundle purchases on USA Mega Millions tickets. All you need to do is choose your preferred playing method, buy your USA Mega Millions tickets online, and our team will ensure your tickets are bought within the same hour. We at Giant Lottos strive to make you a millionaire as quickly as possible!
*a tip to know whether the website you are looking at actually buys lottery tickets online or follows the insurance model is to check the wording that they use. If you see the words “Play” then you can be confident it is a company that has agents and buys your tickets physically, if you see the words “Bet” you can be sure it is following the insurance model and you are placing a bet on the outcome of a lottery.