What is Mega Million Jackpot, climbs $1 Billion mark?

Mega Millions is an American multi-jurisdictional lottery game played in 45 states. State lottery officials keep an eye on this.

Its ticket comes to $2 and this time there are chances of winning up to $1 billion in prize money.

Friday night’s drawing of the multi-state game is listed at $1.02 billion, making it tied for the second-highest prize ever in Mega Millions history.

From April till now its ticket number has been announced 8 times but no one has got the lottery now.

The winner can either take the lottery money in one lump sum or he can get it in 30 installments for 29 years.

It attracts a 37% federal tax. This significantly reduces the lottery amount. But still, a person earns so much that he does not need to do anything in his life. This game has become very popular in America.

When Mega Millions Started?

Mega Millions was started on August 31, 1996, under the name Big Game. The first draw was held in September 1996. Earlier only 6 states used to participate in it, which has now increased to 45.

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In May 2002, the multistate game was renamed, Mega Millions. In March 2012, Mega Millions won the title of becoming the world’s largest lottery with $656 million. This jackpot joined the billion-dollar club in October 2018.

Until further notice, starting jackpots will vary based on sales and will be announced before each drawing; this measure is effective beginning with the April 7, 2020, drawing.

A large number of people play this game to try their luck in America. This time the prize money has reached $1 billion but no one has been numbered yet. It is expected that this prize money can increase even more. Although it is gambling they don’t want to miss trying their luck by investing $2 dollars. The chances of winning in this are very less. The government strictly monitors this lottery and collects huge taxes from the winner.

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At present, the craze of Mega Millions is in the sky in America. Everyone is staring at their ticket numbers. Maybe their luck shines and they become a millionaire overnight.

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  • Pallav Jain is co-founder of Ground Report and an independent journalist and visual storyteller based in Madhya Pradesh. He did his PG Diploma in Radio and TV journalism from IIMC 2015-16.

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