The anticipation is mounting as Friday night’s Mega Millions drawing approaches, with the chance to unveil a winning ticket for the lottery game’s fifth-largest jackpot in history, a staggering $1.22 billion. Set to take place at 11 p.m. ET, this drawing has captured the attention of countless hopeful participants eager to land a life-changing fortune.
As excitement reaches a fever pitch, let’s explore some key details and fascinating facts surrounding this monumental Mega Millions jackpot:
- The jackpot has been steadily growing since September 13th when the clock was reset after a lucky individual from Texas snagged an impressive $810 million prize.
- Despite the high stakes, no ticket managed to match all six numbers in the previous drawing on Christmas Eve, leaving the massive jackpot up for grabs.
- Participants, enticed by the allure of a billion-dollar prize, have been flocking to purchase tickets, contributing to the exponential growth of the jackpot as the deadline approaches.
Notably, residents of select states stand to benefit more from a jackpot win due to the absence of state taxes on lottery winnings. These states include California, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming, offering lucky winners the chance to take home the maximal amount.
If Friday night yields a winner, the current fifth-largest jackpot of $1.128 billion, claimed just recently, will be surpassed. The winning ticket from this record-breaking jackpot, purchased at a ShopRite in Neptune Township, New Jersey, remains unclaimed. Winners in New Jersey have a year to come forward and secure their life-altering prize.
Previous jackpot winners have often taken their time to file a claim, exploring their options and contemplating their next steps. The winner of the $1.128 billion jackpot opted for the prize’s cash value, estimated at $537.5 million before deduction of state and federal taxes.
While the thrill of winning a massive jackpot is undeniable, it’s important to note the tax implications associated with such colossal sums. A federal tax rate of around 37% is typically applied, in addition to state tax rates, such as New Jersey’s 8% tax on lottery winnings.
Despite its allure and massive payouts, the Mega Millions jackpot has only found a winner three times in 2024, marking a year with the fewest jackpot wins since the game’s inception in 2002. This stands in stark contrast to 2023, where Mega Millions produced a remarkable 10 jackpot wins following major changes to the game in 2013.
One of the most significant Mega Millions jackpots claimed in history was a staggering $1.602 billion, secured by a lucky player from Florida in August 2023. However, this massive sum pales in comparison to the largest Powerball jackpot on record, a mind-boggling $2.040 billion in November 2022.
As the Mega Millions drawing draws near, the excitement continues to build, with participants eagerly awaiting the chance to change their lives with a single ticket. Will Friday night usher in a new chapter for a fortunate winner? Only time will tell as the anticipation mounts for this historic moment.
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