What to Do If You Win a Lottery Jackpot

Lottery jackpot

While winning the lottery is a dream come true for many people, there are a few things to keep in mind when winning a lottery jackpot. First, make sure you keep your winnings anonymous. This will protect you from scammers and long-lost friends trying to swindle you out of your winnings.

Another option is to buy an annuity, which pays out over the next 29 years. This is a popular option for lottery players, as nearly all winners opt for this option. For example, the estimated cash option of the Mega Millions jackpot for Friday’s drawing is $648.2 million. If no one wins the jackpot, the prize will continue to grow and will eventually reach $1.2 billion.

Depending on the amount of prize money, winners can choose between cash and annuity options. With a cash option, winners will get a lump sum, while an annuity option will pay out monthly payments over 29 years. A good annuity calculator will help you determine the amount you’ll receive over time.

The Mega Millions lottery jackpot has been growing for over three months. The odds of winning are one in 302,575,350. The winning ticket was purchased by a lottery club in Novi, Michigan. A lawyer representing the club claimed the prize in March 2021.