A lucky player from New Jersey recently became a multimillionaire after winning the Mega Millions jackpot of $1.13 billion in the drawing on March 26 in the United States. The jackpot had been growing over 15 weeks to reach the record-breaking amount. However, the winner will have to wait up to 30 years to collect the full amount due to the lottery’s tax policy.
The winner has the option to receive the full amount in annual payments over three decades, with 24% federal tax deducted each year. Alternatively, they can choose to receive a lump sum of $537.5 million immediately, with taxes already paid to the authorities.
The winning ticket was sold at ShopRite Liquor #781 in Neptune Township, Monmouth County. The executive director of the New Jersey lottery, James Carey, congratulated the winner and advised them to sign the ticket, make a copy, and keep it safe.
The winning numbers for the jackpot were 7, 11, 22, 29, 38 and the Mega Ball 4. The player from New Jersey matched all the numbers correctly to claim the prize. The lottery officials also reported that over 190,000 other players in New Jersey won smaller prizes ranging from $2 to $400 in the same drawing.
Mega Millions is one of the most popular lotteries in North America, with jackpot prizes often reaching the billion-dollar mark. Players choose six numbers from two different groups to play, with the top prize awarded for matching all the numbers drawn.
Prize claim periods vary from 90 days to one year depending on the jurisdiction, so winners must claim their prizes within the specified timeframe. Unclaimed prizes are used for various purposes, such as education funds and future promotions, by the participating states.
The recent $1.13 billion jackpot is now the fifth-highest prize in the history of Mega Millions, adding to the list of record-breaking lottery prizes in the United States.