//$970 Mega Millions jackpot: How much money would you actually get?

$970 Mega Millions jackpot: How much money would you actually get?

The Mega Millions jackpot grew to $970 million after no one cashed in on Tuesday. Just how much would you get if you scored the winning ticket?

For starters, if you took the lump sum option, you’d pay over $300 million in taxes, bringing home a massive payday of $413 million. Not bad, right?

If you’re a more patient person, the annuity option would pay you about $18 million per year for 30 years. This would result in slightly lower taxes with less income each year.

Friday’s Mega Millions jackpot is the third-largest in lottery history, behind two drawings that were worth over $1 billion each. #WakeUpCLT #Lottery #MegaMillions

No one has won the Mega Millions jackpot since Sept. 15, allowing the prize to grow larger and larger over four months. The last Powerball jackpot winner was a day later, on Sept. 16.

Such big jackpots are rare, but both games rely on incredibly long odds to generate attention and increase sales. For Mega Millions, the odds of matching all six numbers is one in 302.5 million, and for Powerball it’s one in 292.2 million.

The prizes listed are for winners who choose an annuity option, paid over 30 years. Winners almost always opt for cash prizes, which for Mega Millions would be $638.8 million and $546 million for Powerball.

FULL STORY: https://www.wcnc.com/article/news/nation-world/mega-millions-865-million-jackpot/507-5faf512f-486c-49f0-890f-40a0cfd3c245