If you want to know about Mega Millions then I think you have landed on a good website, so let’s get started. Mega Millions, one of the two major lottery games in the United States, offers players in 45 different states and other U.S. territories a chance at big jackpots, and this week’s game is no exception, ranking as one of the top five winning numbers awarded when a lucky winner is matched.
Mega Millions can be played in 45 US states, as well as Washington, DC, and the US Virgin Islands. Players can buy as many $2 tickets as they want. Drawings take place twice a week, on Tuesdays and Fridays.
Each ticket requires you to choose five numbers between 1 and 70 and the sixth number between 1 and 25 (or, you can let the lottery people generate the numbers for you). The jackpot goes to the person (or people) who picks all six numbers correctly.
What is Mega Millions Lottery?
Mega Millions is a multi-state lottery game played in 45 states, Washington DC, and the US Virgin Islands. Players must select five white numbers between 1-70 and a single gold number between 1-25. If you match five white numbers and gold balls, you win the grand prize. You can win a prize for matching as few as a white ball and a gold ball, or you can win or cash back by matching a golden ball. The rewards are bigger depending on the combination of matches you make.
Each ticket with a set of numbers — five white and one gold — costs $2. So the five sets would total $10. You can also add the “Multiplier” option for an extra $1 per ticket which guarantees to multiply your winnings anywhere from double to 10 times if you win. That means a $10 win can become $30 if you play the multiplier and the 3x option comes up.
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It’s worth noting that multiples don’t apply to grand prizes, so you can’t win the $1.28 billion jackpot and multiply it.
What time are the mega millions drawing:
The Mega Millions drawing takes place every Tuesday and Friday at 11 pm EST. In Michigan, you can purchase tickets for the drawing until 10:45 p.m. Michigan has more than 10,500 lottery retail locations, and tickets can be purchased at gas stations, convenience stores, restaurants, and more.
But even if you don’t have the time or resources to go to a store to buy your tickets, here in Michigan you can also buy them online through the Michigan Lottery website. To do this, you just need to create an account, add your payment information, find the game you want to play, and buy tickets.
To create an account, visit the website and click “Register” at the top of the page. From there you enter your email address, name, date of birth, social security number, and other information that the state will use to verify your age/identity and help them contact you if you win a big prize.
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Once you create your account, you can deposit money via credit/debit card, PayPal, online bank transfer, and more. The minimum deposit is $10.
Mega millions
After you have money in your account, you can search Mega Millions and the system will help you get your tickets. You can choose your own numbers or use the autofill option and a set of computer-generated numbers will be selected for you.
From there, add those tickets to your cart and checkout, your tickets are ready and you can start daydreaming about what you’re going to do with your newfound wealth.
For the latest information on the Michigan Lottery, visit the official Michigan Lottery site, which provides more information on instant tickets, raffles, and other lottery games.
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The last Michigan player to win a Mega Millions or Powerball jackpot was the Wolverines FLL Lottery Club who claimed a $1.05 billion jackpot in March 2021. With their win, the group plans to give back to the community.
And while they were the lucky winners, players are wise to check their tickets immediately because last year’s $1 million prize sold in Warren went unclaimed. The money instead went to the state school aid fund.
How do mega millions work:
In the United States, most states offer some form of cash lottery, such as Mega Millions or Powerball. When you play, you purchase a ticket in the hope of paying random cash.
Even though the odds of winning a cash lottery are slim, Americans spend billions of dollars on tickets each year. But not everyone considers the tax implications or what will happen to their earnings if they win.
According to Professor Michael Collins, a chartered financial analyst, and CEO of WinCap Financial, most cash lotteries are run by governments. “Government-administered lotteries are generally run by state governments to raise revenue,” he explains.
Income from lottery funds can go to fund education, provide treatment for gambling addiction or protect the environment. However, lottery revenue accounts for a small source of revenue for any state.
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How do lottery drawings work?
“Consumers buy lottery tickets and the money they spend goes into the winning pot,” says Joel Ohman, CFP® professional and CEO of ExpertInsuranceReviews.com. “The longer the lottery goes without a winner, the more money accumulates in the pool. If someone wins, the lottery pool starts again.
Lottery winners are selected at random through a drawing. For example, Mega Millions of drawings take place on Tuesdays and Fridays at 11 PM EST, and you can watch them live on TV.
Five white balls are randomly selected during the live drawing, and the balls are numbered from 1 to 70. A golden ball is then selected from the set of balls numbered 1 to 25. If the six numbers selected match your lottery ticket number, then you are a big winner.
| Mega Millions Official website | Click Here |
| Official Site | Click Here |
How do lottery payouts work?
There are two ways lottery winners can claim their earnings — as a lump sum or annual payments over time. Both options result in a lottery payout, but there are pros and cons to each.
You’ll receive your after-tax winnings immediately if you claim a lump sum payout. Choosing this option lets you start investing and taking advantage of compound interest immediately.
But if you receive payments over time, usually referred to as lottery annuities, the amount you receive will be closer to the advertised winnings. And annuity payments can protect winners who might be tempted to spend the money in one lump sum.
How does Mega Million Megaplier work?
First, select your main Mega Millions line or use a quick pick to let the computer generate them for you. To add the MegaPlayer option, check the box on your playslip that says ‘Yes’ next to ‘MegaPlayer’. Then you can sit back, relax and wait for the winning numbers to be announced after the drawing.
Of the 15 mega multiplier balls, five have a 2x value, six have a 3x value, three have a 4x multiplier and one has a 5x ball. The night that comes out indicates the number by which all Megaplier players’ prizes are multiplied for that drawing.
Megaplier prizes start at $4 when you match the Mega Ball in a 2x Megaplier and up to $5 million when you match five major numbers with a 5x Megaplier. The equivalent non-mega pier prizes will be worth $2 and £1 million respectively.
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You can see a breakdown of the Megamultiplier prizes awarded as well as the odds for each Megamultiplier number on the Mega Millions Prize page. Players are eligible to win Megaplier prizes in all participating states except California.
Lotteries and taxes :
According to Collins, the tax implications of winning the lottery vary depending on the type of lottery and the jurisdiction in which it is located.
“For example, in the United States, winnings from government-administered lotteries are subject to federal and state income taxes,” he says.
“Lottery earnings are considered wages by the state and federal governments,” Ohman notes. Winning a significant amount will likely push you into a higher tax bracket, “so not only will you pay higher taxes on your winnings, but you’ll also pay higher taxes on your regular wages,” he says. “State taxes will depend on where you live.”
You can also benefit from tax relief if you buy regular lotteries without winning anything. You can deduct losses from losing lottery tickets if you itemize your tax return.
3 steps to take if you do win the lottery:
If you regularly buy lottery tickets, have you ever thought about what you would do if you actually won? Assuming you’re lucky enough to win a big jackpot, here are three key things you should do to protect yourself and your winnings:
1. Protect your lottery ticket.
According to Collins, the first thing lottery winners should do is sign their signature on the back of the ticket to establish ownership. And you should take steps to protect your winning tickets — make digital copies and store them in the cloud.
“Next, you should keep your ticket in a safe place until you claim your prize,” says Collins. If you lose your winning ticket and do not have a backup copy, you will have no way to claim your winnings.
2. Protect your privacy.
Advertising yourself as a lottery winner is never a good idea. You have become an overnight millionaire, and many people will look to take advantage of it. This can include family members, friends, and even strangers.
Seven states allow lottery winners to remain anonymous: Kansas, Maryland, North Dakota, Texas, Ohio, and South Carolina. Some states allow lottery winners to set up a trust to claim prize money anonymously.
Others, such as California, do not allow lottery winners to remain anonymous. If you live in one of these states, do not claim your prize money immediately. Wait at least a week to attract as little media attention as possible.
3. Consult a financial advisor.
Finally, both Collins and Ohman recommend consulting with a financial advisor to make sure you’re making good financial decisions. “If you win big in the lottery, one of the things you can do is find a reputable financial advisor to help you plan how to provide for your windfall throughout the rest of your life,” Ohman explains.
According to Ohman, most lottery winners spend all their money and end up in worse financial shape than before they won. “It doesn’t have to be this way. A lottery win can lead to a lifetime of comfort and increased financial independence with wise investment in a diversified portfolio.”
How to play Mega Millions:
In July 2022, the Mega Millions jackpot totaling $1.337 billion was won by a ticket holder in Illinois. Mega Millions can be played in all 45 US states, as well as Washington, DC and the US Virgin Islands Players can purchase as many tickets as they like. Drawings take place twice a week, on Tuesdays and Fridays.
Each ticket requires you to pick five numbers between 1 and 70 and the sixth number between 1 and 25 (or, you can let the lottery people generate the numbers for you). The jackpot goes to the person (or people) who pick all six numbers. chooses correctly. Your chances of doing so are 1 in 303 million.
How to play Powerball:
Powerball debuted in 1992 – four years ahead of Mega Millions. You can play Powerball in 45 states including Washington, DC, Puerto Rico, and the US Virgin Islands. The drawing is broadcast live every Monday, Wednesday, and Saturday at 10:59 PM ET.
Tickets cost $2. To play, choose five numbers from 1 to 69 and one Powerball number from 1 to 26 (or generate one at random). The chance of picking all six numbers correctly is about 1 in 292 million.
Mega Millions has multiple billion-dollar jackpots, with Powerball having the largest. Its only 10-figure jackpot was $1.586 billion in January 2016. It was divided among winners from California, Florida, and Tennessee.
How Do You Win?
Players in Mega Millions can either have five numbers randomly generated for them, or they can choose their own five numbers between 1-and-70, plus a sixth number, a “Mega Ball”.
If a player matches their five numbers and the “Mega Ball”, they will walk away with the jackpot in the drawing. Of course, the jackpot isn’t the only prize available in the game.
If a player matches five numbers, but not the “Mega Ball,” they win $1 million, according to officials. If the “Mega Ball” matches all four numbers, the player will win $10,000. Players will be awarded $500 if they match all four numbers except the “Mega Ball”. Three numbers and the “Mega Ball” is worth $200. A player wins $10 if three numbers match, or two numbers and the “Mega Ball” match. Matching a number and “Mega Ball” is worth $4, and matching “Mega Ball” is a $2 prize.
Illinois players also have the option of adding a $1“Megaplier” to their $2 ticket. Any non-jackpot prize will be doubled in value, including matching five numbers in the drawing.
- 5 matching numbers + Mega Ball: Jackpot.
- 5 matching numbers: $1 million.
- 4 matching numbers + Mega Ball: $10,000.
- 4 matching numbers: $500.
- 3 matching numbers + Mega Ball: $200.
- 3 matching numbers: $10.
- 2 matching numbers + Mega Ball: $10.
- 1 matching number + Mega Ball: $4.
- Mega Ball matching $2.
What to do if you win the lottery:
Although it’s something we’ve probably only dreamed of, no one is ready to hit the jackpot. If you do, save your ticket. Whoever has a winning lottery ticket can claim the prize.
Next, consider yours. Each state has its own laws regarding whether lottery winners must be publicly identified. Keeping your name out of the news and telling as few people as possible protects you from scammers and long-lost “friends” who want to reconnect.
Kirchenbauer said the key is to slow down. “Don’t start spending money before you’ve had time to plan and think.”
How to claim lottery winnings:
Each participating state has its own rules on how to claim Mega Millions or Powerball prizes. Actually, the deadline to file your claim ranges from 90 days to one year from the date of drawing the numbers. Make sure you review the rules of the state in which you purchased the ticket.
What if I choose an annuity but die before receiving all payments?
Most jackpot winners choose cash but receiving your winnings through an annuity with 30 payments over 29 years can help people reduce their tax burden a bit. If winners die before all of their winnings are claimed, the payouts will go to their estates.
What if no one wins?
If no one wins the Mega Millions jackpot Friday night, lottery officials expect the prize for Tuesday’s next drawing to reach $1.7 billion, making it the nation’s largest lottery prize.
History of the Mega Millions Lottery:
When Mega Millions started in August 1996, it was known as “The Big Game”. At first, only six states participated, but as the lottery grew in popularity, more joined. Now, 47 US jurisdictions (states and territories) participate, with only five states abstaining.
Since it began, the name has changed twice: to “The Big Game Mega Millions” in 2002 and to “Mega Millions,” as it’s known today, in 2005.
In October 2017, Mega Millions changed its structure, making it harder to win the jackpot but easier to win the million-dollar prize. The change creates a bigger jackpot, increasing the starting jackpot size by about 300%. A similar renewal was done five years ago, in October 2012.
Disclaimer:
The information contained on this page is for informational purposes only. All information is entered manually and is subject to error. The Maine State Lottery makes every effort to ensure the accuracy of this information but is not responsible for any errors contained on this page. In the event of a discrepancy between the winning numbers listed on this page and the official winning numbers, the official results shall prevail. For final winner verification, a winning ticket must be verified in the Maine State Lottery’s gaming system. Thank you very much for reading this article and you can bookmark our website for more content.