As no winners were announced on August 1 Mega Millions jackpot drawing, the massive lottery prize increased to around $1.25 billion awaiting to be claimed after the next drawing scheduled for August 4, 2023. The latest winning combination contained numbers 8, 24, 30, 45, 61 and the yellow ball 12 but the round remained with no winning hand.
The Largest Prize Ever:
As reported by Associated Press, Mega Millions jackpot hasn’t been won since April 18 which made the prize progressively grow to reach the $1.25 billion level set for the August 4 drawing. This prize is reportedly one of the largest ever offered in the US history. It grew out of the August 1 drawing which offered the $1.1 billion prize but reportedly remained outstanding for the 30th consecutive time to fill the prize meter up to the incredible $ 1.25 billion.
Following Powerball Jackpot:
As the chance of winning the Mega Millions jackpot is reportedly 1 in 302.6 million, it seems that the jackpot was named after the number of combinations required to match to hit the prize but also the number of digits that will fill the winner’s bank account. For example, the Powerball jackpot won in July reportedly loaded the winner’s pockets with $1.08 billion. As reported by the Associated Press, Mega Millions has offered better odds to win prizes ranging from $2 to $1 million with the lack of winning combinations attributed to poor odds and bad luck.
According to the Associated Press, the winner of the $1.25 billion jackpot will be able to claim the amount through annual payments for the period of over 30 years. If the sole winner anyway chooses to claim a lump sum payment, the payout will amount to around $625.3 million. Also, the lottery winning are reportedly subject to federal taxes and lottery winnings taxes in some states therefore the winner will have to deduct a certain amount of the sum for these purposes.
Lucrative Winning Prospects:
However, it seems that no one would complain about the deductions as the record-breaking jackpot may cover a wide range of expenses. According to the source, Mega Millions is played across almost all US states, and the winner from any of these states would either get a one-time $625.3 million payout or $1.25 billion over the next 30 years. If evenly distributed, the winner will be able to live on around 41 million a year, or $3.5 million a month. The jackpot will thus respectively make some $120,000 a day for the winner over the given period.
The $1.08 billion Powerball jackpot was recently won in Los Angeles and the winner is yet to claim the prize. The record-breaking Mega Millions jackpot reached $1.25 billion after 30 drawings and awaits the winner on August 4,2023.