On December 27, the jackpot of the “Mega Millions” lottery in the United States reached 12.2 billion dollars, after no one had won the jackpot in the previous three months of drawings. It was finally won at the end of 2024 by a lucky player from California.
The winning numbers for the jackpot ticket were announced by the official website of the “Mega Millions” lottery: white balls 3, 7, 37, 49, 55; MegaBall 6.
The identity of the jackpot winner has not been revealed yet, but the information indicates that the ticket was sold in California.
Despite the odds of winning the jackpot being as low as 1 in 302.6 million, lottery players continued to purchase tickets moments before the drawing, steadily increasing the jackpot prize amount.
The highest jackpot amount ever recorded in the history of the “Mega Millions” lottery was 16 billion dollars, sold in Florida in August 2023.
The “Mega Millions”, also known as the “Powerball”, is a type of lottery in the United States. The basic rule is simple: one ticket costs 2 dollars and consists of 6 numbers. Players select 5 main numbers between 1 and 70, and an additional “MegaBall” number between 1 and 25. Matching all 6 numbers wins the jackpot.
Additionally, players have the option to spend an extra 1 dollar on the “Megaplier”, which can multiply their winnings by 2, 3, 4, or 5 depending on the winning tier. However, it’s important to note that the “Megaplier” does not apply to the jackpot prize.
According to lottery agency data, 2024 has been a year with the fewest jackpot winners so far, with only three big winners. The most recent winner was on September 10 in Texas, where a lucky player won 552 million dollars. In March, a lottery player in New Jersey claimed a 1.13 billion dollar “Mega Millions” jackpot. They ultimately chose to receive a lump sum prize of 537.5 million dollars after state and federal taxes.
Winners of the jackpot have the option to receive the prize in a lump sum after taxes, or in annual installments over 30 years, totaling 1.15 billion dollars. While most opt for the lump sum, annuities have advantages as they can reduce taxes and provide a steady income.
Taxes are a primary concern after the initial joy of winning. Generally, if lottery winnings exceed 5,000 dollars, all states deduct 24% for federal tax. When receiving a large jackpot in one go, federal tax rates typically spike to the highest bracket of 37%. State taxes vary widely, with winners in New York paying 8.8% state tax, and an additional 3.9% if in New York City. However, eight states, including California, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming, do not tax lottery prizes.
After purchasing a ticket, some players may already be contemplating their choices should they win the jackpot: how to proceed with the windfall?
The “Mega Millions” consortium announced that starting from April 2025, ticket prices will increase from 2 to 5 dollars each. The gameplay will also be updated to offer higher odds of winning and larger jackpot amounts.
The “Mega Millions” lottery is sold in 45 states, Washington D.C., and the U.S. Virgin Islands. The “Powerball” lottery is also available in Puerto Rico.