The remaining amount is the total of your lump sum payment. Cash option - This is a one-time payment of the prize that is equal to the cash in the Mega Millions jackpot prize pool.

According to Brad Tuttle, writing on Money.com, ”the math is fairly clear on whether lottery winners should take the annuity or lump sum: The lump sum is the better deal, assuming you don’t blow most of the money in a hurry and invest at least a big chunk of it instead.”. The total amount of the payments, over the course of 30 years is equal to the final jackpot prize of the draw. If you don't care, scroll down to the conclusion! Let’s get into some more specifics about the jackpot itself. If you do not select a payment option, your playslip will be rejected.". Not only do we find from reasonable assumptions that the Mega Millions hasn't been a good deal, but at a certain advertised prize size around \$450 million, the 'climbing EV' starts to reverse and larger prizes are actually a worse deal. Could the next \$640 million jackpot be 'old news' and therefore draw less ticket sales? Methodology for the Mega Millions Calculator.

The calculations are based on a \$1 billion annuity or a \$904.9 million cash lump sum. If you match one yellow ball (which is the last number drawn), then you’ll win \$2. In order to win the jackpot, you’d need to match all five white balls and the yellow Mega ball. They wasted their newfound fortune and, in some cases, ended up worse off than they were before they won a lottery jackpot. The Lottery also permits the estate to request that all remaining payments be paid immediately to the estate. Published Wed, Dec 11 2019 10:37 AM EST Updated Thu, Dec 12 2019 8:03 AM EST. We have no idea what happens if we approach a \$640 million drawing again - perhaps buying is more tame next time since we've seen it before? In some states, such as Texas, you must select how you want to receive your jackpot prize already at the time you purchase your tickets! The Megaplier ball will indicate if the non-jackpot prizes are being increased 2X, 3X, 4X, or 5X.