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| Why is the cash option different from the advertised Jackpot? |
| The Big Game Mega
Millions Jackpot is an estimated 26-year annuity value. When players
choose the annuity option for their prize, the state lottery pays the
prize out over 26 years by buying U.S. Government Treasury Securities,
which earn interest and mature annually over the 26 years. That annual
return is the amount the winners receive each year for the 26 year
period. With the cash option, the state lottery will take the amount of
money that would have been invested and will pay it directly to the
winner in one payment. Both payment options have federal and applicable
state taxes deducted from them. (see below)
If more than one person wins the Jackpot, the prize is equally divided among the winners. All other prizes, from US$175,000 down to US$2, are fixed prize amounts, and are paid in full to each winner. |