The Mega Millions jackpot has soared to a staggering $800 million for the upcoming September 10 drawing in the United States, after no winning ticket was drawn on Friday. If someone is lucky enough to win on Tuesday, they will have the option to choose between an annuitized prize, which consists of an immediate payment followed by 29 annual payments increasing by 5% each year, or a lump-sum payment estimated at $401.8 million before taxes.
Both prize options are subject to taxes. Once won, the prize will be reduced by 24% for federal withholding. Additionally, winners must pay the maximum federal tax rate of 37% and may also be subject to state taxes if the state where the ticket was purchased taxes lottery winnings or income.
The winning numbers for September 6 were 6, 23, 41, 59, 63, and Mega Ball 25, with a Megaplier of 25. So far in 2024, only two Mega Millions jackpots have been won: on March 26 in New Jersey and June 4 in Illinois.
Record-Breaking Jackpots
The Mega Millions is unique in that it has produced six jackpots exceeding $1 billion, all won in different states. The largest jackpot was won in Florida on August 8, 2023, amounting to an astounding $1.602 billion.
To participate in the drawing, players must purchase a ticket in one of the 47 jurisdictions where Mega Millions is available, which includes most of the United States, the District of Columbia, and the U.S. Virgin Islands. It is not available in Alabama, Alaska, Hawaii, Nevada, Utah, or Puerto Rico.
Participants must select six numbers: five numbers from 1 to 70 and one number from 1 to 25. To win the jackpot, all six numbers must match the numbers drawn from the white balls and the golden Mega Ball in the corresponding drawing. However, players with fewer matches can still win between $1 million and $2 million.
Mega Millions drawings occur every Tuesday and Friday at 11:00 p.m. ET. The cost of a ticket is two dollars. The deadline to purchase tickets is typically one to two hours before the drawing, either in person or online, but this varies by state.
Mega Millions Jackpot FAQs
Many people have questions about the Mega Millions jackpot, especially when it reaches such high amounts. Here are answers to some of the most frequently asked questions:
How is the Mega Millions jackpot paid out?
Winners can choose between an annuitized prize with an immediate payment followed by 29 annual payments increasing by 5% each year, or a lump-sum payment.
What are the tax implications of winning the Mega Millions jackpot?
The prize is subject to a 24% federal withholding tax, a maximum federal tax rate of 37%, and potential state taxes depending on the state where the ticket was purchased.
Where can I buy Mega Millions tickets?
Tickets can be purchased in any of the 47 jurisdictions where Mega Millions is available, including most of the United States, the District of Columbia, and the U.S. Virgin Islands. It is not available in Alabama, Alaska, Hawaii, Nevada, Utah, or Puerto Rico.