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How's your luck? US lottery jackpot worth over $1.5 billion up for grabs

Lottery player Mariano Velasquez holds forms to pick numbers for the Powerball and Mega Millions lotteries as he buys tickets, Monday, Aug. 7, 2023
Lottery player Mariano Velasquez holds forms to pick numbers for the Powerball and Mega Millions lotteries as he buys tickets, Monday, Aug. 7, 2023 Copyright Wilfredo Lee/Copyright 2023 The AP. All rights reserved
Copyright Wilfredo Lee/Copyright 2023 The AP. All rights reserved
By Euronews with AP
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No one has matched the game's six winning numbers since 18 April - that's 31 draws in a row - causing the prize to roll over and edge closer to the largest-ever jackpot.

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Mega Millions jackpot fever is bubbling in the United States as the draw for the chance to win $1.55 billion (more than €1.5 billion) is set for Tuesday night.

It's the country's third-largest ever jackpot which has continued to swell since 18 April, as no one has matched the game's six winning numbers.

The nearly four-month-long unlucky streak could be all the sweeter for the person who finally lands the top prize which is inching closer to the record lottery jackpot of $2.04 (more than €1.8 billion) won in 2022 by a player in the western state of California.

And although any lucky winner is certain to become one of the richest people in the world, they should not expect the full amount to just pop into their bank account.

That's because the prize is for a sole winner who chooses to be paid over 30 years through an annuity. 

Jackpot winners almost always choose a lump sum payment, which for Tuesday night's drawing would be an estimated $757.2 million (just over €690.2 million).

For either prize option, a big slice of the money would go toward federal and possibly state taxes.

State lotteries typically lop off 24% of winnings for federal taxes, and the bill can run even higher because the top federal income tax rate is 37%. 

Many states also tax lottery winnings.

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