Except if you live in South Carolina where lottery winners can remain anonymous, no one will know who purchased the winning ticket for Friday’s Mega Millions jackpot of $483 Million; its 13th highest prize.
State laws allow winners to choose how they’d like their prize distributed – in one lump sum or over time – with 180 days set aside to claim it.
What is the odds of winning a lottery jackpot?
Fortune reports that the chances of winning a lottery jackpot are extremely slim, according to Fortune’s calculations, matching all six numbers in Tuesday night’s Mega Millions drawing was only 1 in 302.6 million; that figure compares with 1 in 1,222,000 chances for being hit by lightning or 1 in 302,575,350 being chosen randomly as an active NASA astronaut.
Lotterie winners have two payment options to collect their prize: either an annuity payment plan over time, or taking it all in as one lump sum payout. According to GOBankingRates, lottery winners who opt for an annuity tend to come closer to achieving advertised jackpot amounts than those taking cash payouts.
If you’re still determined to win big, purchasing multiple tickets could increase your odds – though that won’t matter much if it turns out that your number doesn’t come up! In reality, chances of becoming the next big jackpot winner may be slimmer.
What are the winning numbers for the Mega Millions drawing on Friday night?
On Friday night’s Mega Millions drawing, the winning numbers were 23 – 27 – 41 – 48 – 51 with 2x Megaplier multiplier applied. This winning ticket was purchased from Liberty Beer and Convenience in Queens, New York and will pay out $483 Million before taxes! This jackpot ranks fourth largest ever won in U.S. history and 13th largest ever won by Mega Millions.
Tickets cost $2 to play, with any match between your numbers and those from the drawing yielding a prize of at least two of your numbers matching up with winning numbers from that particular drawing. For an extra $1 you can increase your potential prize up to five-fold!
On March 30, 2018, a New Jersey resident won the previous largest Mega Millions jackpot, taking home approximately $175 Million before taxes. He announced plans to use some of this fortune to rebuild his 1964 Corvette, while also giving considerable amounts to charity. Additional winners in recent months include:
Who won the Mega Millions jackpot on Friday night?
As of Friday night, no one had won the Mega Millions jackpot for 24 consecutive drawings – with an estimated jackpot value estimated to be $940 Million and cash option estimated to be $483.5 Million for Tuesday night’s drawing.
Fred Cotreau of East Providence, Rhode Island purchased the winning ticket at a gas station in Lebanon, Maine and chose an annuity option that will distribute his prize over 29 annual payments, each one increasing 5% annually. The Maine state lottery announced this news Saturday morning.
One might consider winning $1 billion as life-altering, but when considering taxes it becomes even more significant. Claiming such an enormous sum may draw the scrutiny of tax authorities as well as professional hustlers eager to claim their share of it all. Thus it is imperative for winners to keep a copy of their ticket safe while immediately scheduling an appointment with a financial planner for more advice and consultation.
How do I claim my prize?
After winning a lottery jackpot, there are several factors to keep in mind. Experts advise lottery winners to seek help from professionals such as attorneys, tax specialists and financial advisors when it comes to claiming their prize.
First step to collecting your prize is deciding how you want to collect it. Winners can select either a lump sum payment or an annuity option that offers one immediate payment followed by 29 annual payments that increase by five percent each year.
Individuals make the ultimate decision regarding their prize selection and its payout, although rules vary by state. New Jersey and Texas require players to select cash or annuity before beginning play; other states such as Florida, South Dakota, Washington and Wyoming do not impose income taxes; depending on local regulations you may need to wait up to 60 days before collecting your prize.