Mega Thousands and thousands Jackpot Reaches $1.1 Billion—Fifth-Largest Jackpot Ever—Right here’s What The Winner Would Obtain After Taxes

Topline

The Mega Thousands and thousands jackpot surpassed $1 billion after no profitable ticket was claimed Friday night time, Mega Thousands and thousands introduced Saturday morning, making it the fifth-largest jackpot of all time, though a winner would stroll away with far much less after taxes.

The Mega Thousands and thousands jackpot reached an astounding $1.1 billion after no profitable ticket was claimed … [+] Friday night time.

Key Details

The jackpot elevated to $1.1 billion, Mega Thousands and thousands introduced on Saturday, after no ticket matched the six numbers (3, 20, 46, 59 and 63, and the Mega Ball quantity 13), making it the fourth time in simply over 4 years that the jackpot has topped $1 billion.

The jackpot additionally handed a $1.05 billion Mega Thousands and thousands jackpot received in January 2021 for the fifth spot of all time.

If a ticket matches the six numbers on the following drawing on Tuesday, nevertheless, the winner would stroll away with lower than half of the full jackpot quantity, nevertheless, after taxes are considered.

The winner has the choice to take the cash both in 30 installments over 29 years or as a lump sum of $568.7 million—a considerably extra standard choice.

The winner would then face a compulsory 24% federal tax withholding to the IRS, decreasing the prize cash to $432.2 million, plus a federal marginal fee as excessive as 37%, which might reduce it to as little as $358.3 million, if the winner has no extra earnings, dependents or tax deductions together with charitable contributions.

Large Quantity

$2.04 billion. That’s how excessive the Powerball jackpot reached in November—the most important of all time—with one winner getting $628 million in a money lump sum after federal taxes. The second largest got here in October 2018 ($1.537 billion)—a Mega Thousands and thousands jackpot that was claimed by only one individual. Final September, two individuals claimed a $1.337 billion Mega Thousands and thousands jackpot in Illinois, splitting a $780.5 million pre-tax money lump-sum.

Stunning Reality

5 tickets in Friday’s drawing matched all 5 white balls within the Mega Thousands and thousands however didn’t match the gold ball quantity—nonetheless sufficient for a second-place $1 million prize. Two of these tickets have been bought in New York, with three others coming from Florida, Maryland and New Jersey. The percentages of profitable the entire thing: one in 302.5 million, based on the Mega Thousands and thousands. Tickets that match 4 white balls plus the gold ball (one in 931,001 odds) win $10,000, whereas people who match 4 white balls with out the gold ball (one in 38,792) win $500.