Mega Millions becomes Mega Billion for Friday drawing - Insurance News | InsuranceNewsNet

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July 28, 2022 Annuity News
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Mega Millions becomes Mega Billion for Friday drawing

Telegraph (Alton, IL)

Jul. 27—ALTON — A giant Mega Millions lottery jackpot has reached $1.02 billion after no one matched all six numbers Tuesday night to win the top prize.

The new estimated jackpot for Friday's drawing will be the nation's fourth-largest lottery prize.

Businesses in Alton that sell lottery tickets have been seeing an increase in sales because of the potential prize. Sydney Ehrman, an employee at Schwegel's Market on Alby, said the store has been selling tickets every day.

"People have come in a lot more today and the past couple of day," she said. "Most people just purchase one. But we often have regulars that will purchase more than one at a time."

Stephanie Newby, an employee of S-Mart on Broadway, said many customers since the last increase in the prize total have been buying $20 to $40 worth of tickets everyday.

"Groups of workers are coming in, and the whole group will buy $200 worth," Newby said.

DJ Patel of the Shell Gas Station at the corner of Brown Street and Washington Avenue in Alton said that on Tuesday his store recorded $900 in sales just from Mega Millions tickets. At noon Wednesday, the store had recorded $265 worth of tickets.

"People will spend $100 in tickets every time they come in," Patel said.

Rick Green, of Alton, said he plays the lottery every other week. While he has not won a large amount yet, when he does he already has a plan for what to do with the money — after recovering from the shock.

"They way times are with friends and family that I know, I think I would share it," Green said. "I believe in this 'circle of life' that we live in, and what goes around comes around."

Since April 15, the all six of the game's numbers have not been matched, making 29 consecutive drawings without a winner.

The $1.02 billion prize would be received by a lone winner who chose the annuity option, with annual payments over 30 years. Winners also have the choice of a cash option; for the next drawing on Friday night, that prize is an estimated $602.5 million.

Most jackpot winners opt for cash but receiving your winnings through an annuity, with 30 payments over 29 years, can help slightly reduce their tax burden. If winners die before receiving all their winnings, the future payments would go to their estate.

The odds of winning the jackpot are 1 in 302.5 million. Mega Millions is played in 45 states as well as Washington, D.C., and the U.S. Virgin Islands. The game is coordinated by state lotteries.

Since 2016, players have won 40 Mega Millions jackpots, with the fortuitous few scattered through 22 states. And not surprisingly, there have been more winners in states with greater populations and thus more players.

California takes the prize for the most Mega Millions jackpot winners during that span, with six lucky players. That's followed by five winners in New York, four in New Jersey and three in Illinois.

Rules vary by state, but retailers usually get a reward for selling a ticket that wins a jackpot.

The Associated Press contributed to this story. [email protected]

___

(c)2022 The Telegraph (Alton, Ill.)

Visit The Telegraph (Alton, Ill.) at www.thetelegraph.com

Distributed by Tribune Content Agency, LLC.

Older

Mega Millions – Jackpot tops $1B; $3M ticket sold in Ohio

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Oklahomans buy tickets as Mega Millions tops $1 billion

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