The Mega Millions jackpot jumped to $810 million today, making it the third-largest prize in U.S. lottery history. What do you do with the money if you win? Here’s a look at how the lottery works and how much you can spend on your home. The odds of winning the jackpot are one in 303 million. This is a large prize that will change your life forever. But you’ll have to be practical, too.
Mega Millions jackpot has jumped up to $810 million
The Mega Millions jackpot has increased to an estimated $810 million, making it the fourth largest in U.S. lottery history. The jackpot is still expected to go up another $10 million by Tuesday’s drawing, and that amount is worth at least $470 million in cash. However, if you have won the jackpot but aren’t sure how to spend it, you may choose to cash in on your winnings by purchasing a cash option instead. In such a case, you would only have to pay $470 million for a cash option, which would be worth nearly $810 million.
Mega Millions is third-largest lottery prize in U.S. history
The jackpot for the Mega Millions has surged to $1.025 billion, making it the third-largest lottery prize in the nation’s history. Currently, there is a cash option for the $1 billion jackpot, which means that if you don’t win the prize, you can choose a cash amount of up to $622.5 million. This is a huge amount of money for a lottery prize, and you don’t have to be rich to win it. You can play Mega Millions and buy tickets until the drawing date, and if you do win the jackpot, you have six months to claim your prize.
Odds of winning the jackpot
While the odds of winning the Mega Millions jackpot are low, it is possible to win the big prize. If you match all five white numbers, you will have a one in 302,575,350 chance of winning the jackpot. Matching three or four numbers with the gold ball will yield odds of one in 1447. If you match four white numbers and the gold ball, you will have a one in 1447 chance of winning the jackpot.
Spending winnings on home
After you win the lottery and collect your jackpot, there are a few things you should do. One of the most important is to seek professional advice from a financial advisor. Secondly, wait to spend your winnings until you have collected your thoughts. A financial expert can guide you on how to spend your winnings in a responsible manner. You may also want to give gifts to your family and friends or make loans to loved ones. Of course, you should also make room for emergency fund.
Over the last decade, dozens of hefty jackpot lottery prizes have gone unclaimed. In Connecticut, the last jackpot to go unclaimed was for the Clarence Jackson Jr. jackpot in 2002. In the state of New York, a windfall of 63 million dollars went unclaimed. The state lottery is now putting its unclaimed prize money back into the prize pool to help pay for larger jackpots and other special games.