Mega Millions Jackpot Soars to $965 Million, Next Draw Friday
UPDATE: The Mega Millions jackpot has surged to an astonishing $965 million after no tickets matched the winning numbers drawn on Tuesday night. The latest drawing produced the numbers 10, 13, 40, 42, 46, and Mega Ball 1. With the next drawing scheduled for Friday, November 14, 2023, excitement is building as the jackpot inches closer to the $1 billion mark.
The growing jackpot makes this the second-largest lottery prize of the year, following closely behind the record-breaking $1.602 billion Mega Millions prize won on August 8, 2023, in Neptune Beach, Florida. The winning ticket for that monumental drawing was purchased at a Publix supermarket, with the winner opting for a cash payout of $794.2 million.
As anticipation mounts for Friday’s draw, the odds of winning the Mega Millions jackpot stand at 1 in 290.4 million, slightly improved from the previous odds of 1 in 302.5 million. This change follows recent adjustments made by Mega Millions aimed at enhancing players’ chances of winning both the jackpot and smaller prizes.
If no one claims the jackpot on Friday, it is very likely to exceed the $1 billion threshold. The potential winner will face a choice: accept the full jackpot over 30 annual payments or opt for a lump sum cash payout of $445.3 million. However, taking the lump sum will significantly reduce their prize due to taxes. After the mandatory 24% federal tax withholding, the payout would shrink to about $338.4 million. Depending on their total taxable income, winners could face a federal marginal tax rate of up to 37%, bringing their final take-home amount to approximately $280.5 million.
For those who choose the installment option, annual payments of around $32.16 million would be reduced to approximately $20.26 million after the same tax rate is applied. State taxes may also apply, with New York taxing lottery winnings at 10.9%, further impacting the winner’s total.
With millions of players eagerly anticipating the next draw, the potential for life-changing wealth looms large. No matter the outcome, the excitement surrounding the Mega Millions jackpot is palpable. Prepare for what could be a historic drawing this Friday!
Stay tuned for updates as this story develops and remember to check your tickets!
