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Mega Millions jackpot nears $1 billion: How much will the winner take home after taxes?

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  • Staff Report 

The Mega Millions jackpot has soared to an eye-watering $977 million as hopeful players across the United States await the next draw on Friday night. This comes after a three-month period without a jackpot winner, leading to one of the largest prizes in U.S. lottery history. The jackpot, ranking as the 10th largest ever, mirrors the slim chances of winning, which have only grown slimmer with each passing draw without a winner.

Cash value of Mega Millions jackpot for Friday, March 22, 2024 is $461,000,000

For those dreaming of hitting the big time, a $2 ticket gives players a shot at the prize. The process involves picking six numbers from two different pools; however, the majority of participants prefer the quick pick option, allowing a computer to select their numbers. Despite the massive advertised jackpot, winners typically opt for a lump sum payment, which significantly reduces the total amount received after taxes.

Finger Lakes Partners (Billboard)

The odds of winning the Mega Millions jackpot stand at a daunting 1 in 302.6 million, a deliberate design to accumulate large jackpots over time. This has resulted in a long stretch without a winner since December 8, 2023, highlighting the incredibly low probability of securing the jackpot. Lottery officials encourage players to enjoy the game for its entertainment value, reminding them of the extremely unlikely odds of becoming overnight billionaires.



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