Mega Millions Review

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Based in the US, the Mega Millions spans over 43 states and can be entered into from anywhere in the world. The lottery always starts at $15 million, and with the high amount of people entering, the winnings can reach extraordinary numbers. In 2012, Mega Millions hit the world’s highest jackpot, landing at $656 million. Some of the biggest Mega Million state lotteries are in New Jersey, New York, Texas, California and Ohio. Think you can do with your share of a couple of million dollars? Then this is the lottery for you.

In short, anybody can play the Mega Millions, as long as you are at least 18 years of age. There are different rules as well as tax legislation for each state and country.2

Play Mega Millions online

To play, you will need to visit an accredited Mega Millions site and enter online. Each ticket costs $1 and the more you play, the better your chances. Though you are playing online, selecting your numbers will be similar. To play, you will need to select 5 numbers from 1-75 and an extra number from 1-15.

If your 6 chosen numbers match the numbers drawn by the lottery, you are the winner.

How to pick winning Mega Millions numbers

While we can’t tell you exactly which numbers will come up in the next draw, we can give you a few tips to increase your odds.

  1. Don’t play the same numbers over and over again.
  2. Don’t play consecutive numbers.
  3. Pool with other players to increase your odds and get more tickets.
  4. Learn to track and wheel your numbers.

What time does Mega Millions draw?

The Mega Millions draw is held every Tuesday and Friday at 11pm in Atlanta Georgia. This time will obviously differ for the different states and international countries. The results are posted on various websites including the Mega Millions site.

How to collect winnings

If you reside in the U.S and you have won less than $599, you will be able to collect your winnings from an authorized lottery sales agent. If you have won more than this amount, you will need to send through an application form to the state’s lottery commission. Always be aware, that your ticket will be validated first and that you must apply for your winnings in the state in which you purchased the ticket. You must claim your prize within a certain time period which is different in each state.

If you are an international winner, you will have likely used a concierge service to purchase the tickets. Smaller amounts will be directly transferred into your concierge account, while big wins will need to be arranged.

Once you have had your ticket validated, you will be able to choose whether you would like a lump sum or an annuity payout. If you choose to take a lump sum, you will receive your money at once, however, you will receive less than the actual lottery total due to taxes.

The annuity payout means that you will receive a lump sum immediately, and then the rest of the winnings will be divided into 29 annual installments. You will receive the total amount less taxes, with a 5% increase in annual payouts every year.

Lottery Tax Calculator

If you have won more than $599 in a draw, you will need to pay taxes on your winnings. This will differ in each state and country, but there are easy to use tools that can help you in calculating how much will be paid – An amount that will reflect differently if you take a lump sum or annuity payout.

Mega Millions winners

There have been some big wins over the years, but nothing can compare to $656 million, which was won in 2012 and split between 3 winners. Each winner received their share totaling $218,666,667.

In 2013, 2 winners split the largest annuity payout in history, each taking home their share of $648 million. One of the winners, a truck driver from Northern California, took 2 weeks to check his winning ticket, completely forgetting about it.

The third largest payout was won in 2014, when a $414 million jackpot was split between 2 winners. One of the lucky recipients stayed completely anonymous, claiming the share quietly and taking the payout as a lump sum which totaled $76.4 million after taxes.

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