Everything you need to know about Friday's $940 million Mega Millions jackpot, including what to do if you win
Few things are more alluring than the everlasting hope that overnight your life will be dramatically changed by winning the lottery. Despite minuscule odds, every year millions of Americans participate and as this new year starts the Mega Millions jackpot is nearing historic highs.
With no one successfully matching the six numbers needed to win the Mega Millions jackpot Tuesday the prize has swelled to $940 million for Friday night's drawing.
Here's what to know about the upcoming Mega Millions drawing, including how to play, where to buy a ticket, your odds of winning and what to do if you end up having a life-changing ticket.
Does Wisconsin have Mega Millions?
Yes.
Mega Millions tickets are sold in 45 states, including Wisconsin, plus the District of Columbia and the U.S. Virgin Islands.
Priced at $2, Wisconsin Lottery tickets can only be purchased with cash and are only available at participating Wisconsin Lottery retailers — this typically includes gas stations and convenience stores. To find a retailer near you, visit wilottery.com/where-to-buy.
Drawings take place on Tuesdays and Fridays and to have a chance of winning, tickets must be purchased before 9 p.m. on the days the winners are drawn. Drawings take place at 10 p.m. CT.
Purchasers must be at least 18 years old.
How much is the jackpot and what are your chances of winning?
Currently sitting at $940 million, this is the fourth-largest Mega Millions jackpot ever.
Once the jackpot has been won it can be paid out in two ways that can change the total payout.
The first option is through an annuity which is not paid out all at once, but is paid out annually over 30 years with each payment increasing by 5% from the last. This is the only option that allows winners to receive the full jackpot.
The second, and more popular option, is to receive the jackpot as a single cash payment equal to all the cash in the Mega Millions jackpot prize pool. With this year's jackpot, this option would leave a winner with a single payment of $483 million.
According to the Wisconsin Lottery's website, the jackpot winner has 60 days from the date of ticket validation to select either the annuity or cash payment method.
According to USA Today, the single chance of matching all six numbers is roughly 1 in 303 million.
How to play Mega Millions
Go to a participating Wisconsin Lottery retailer.
Choose five different numbers from 1 to 70, and one Mega Ball number from 1 to 25.
Place wagers by asking for a "Quick Pick" or by using the Mega Millions playslip. Playslips are available at Wisconsin Lottery retailers.
Choose how many draws to play. Each ticket costs $2 per play per draw. Mega Millions can be played up to eight draws (four weeks) in advance.
For an additional $1, people can select the Megaplier feature, which increases the amount of non-jackpot prizes. For every Mega Millions drawing, a Megaplier of either 2, 3, 4 or 5 will be drawn. A player who added the Megaplier and matches some of the drawn numbers will see their prize — ranging from $2 to $1 million — multiplied by that drawing’s Megaplier. To select Megaplier, mark the Megaplier circle on the playslip or ask the clerk to add Megaplier when purchasing a ticket.
Check your playslip carefully before handing it to the retailer. Mega Millions tickets cannot be canceled.
Give the completed playslip and cash to the retailer.
Receive, sign and safeguard your ticket. A ticket is needed to claim a prize. Playslips are not valid to claim a prize.
For each play, all six selected numbers are printed on one line of the ticket with the Mega Ball number printed to the right, under the word “MEGA.”
Winning numbers are selected by a random drawing.
How many times was Mega Millions won in 2022?
The Mega Millions pot was won six separate times in 2022 — including a single winner of $426 million ($292.9 million cash) in January.
Last year also saw a $1.337 billion winner, the second-largest Mega Millions win ever.
When was the last time the Mega Millions jackpot was won in Wisconsin?
The last — and only — time the Mega Millions jackpot was won in Wisconsin was in September of 2020. Adrian Tongson of Racine won $120 million ($95.4 million cash).
How do you find out the winning numbers?
Visit your local Wisconsin Lottery retailer, check the Lottery's website or call the Lottery Player Hotline at 1-608-266-7777.
Mega Millions drawings can also be viewed on the Mega Millions YouTube channel.
If you win, here's how to claim your prize
Mega Millions jackpot prizes for Wisconsin must be claimed at the Department of Revenue in Madison, 2135 Rimrock Road. For jackpot prizes, players should call 608-261-4916 to make arrangements to come in to validate the ticket.
Prizes of $501,000 and over must also be claimed at the Department of Revenue.
Prizes up to $599 may be claimed at a Wisconsin Lottery retailer. Winning tickets of $600 or more must be claimed at the Madison office, in Milwaukee at the State Office Building, 819 N. 6th St., on the fourth floor, or by mail.
To claim by mail, the player should sign the back of the ticket, complete a Winner Claim Form — available at Wisconsin Lottery retailers, Lottery offices or downloaded from wilottery.com — and mail them to: Prizes, PO Box 777, Madison, WI 53774.
"Using certified or registered mail is suggested," the site said. "Retain a personal copy of both sides of the ticket and claim form."
Prizes not claimed within 180 days after drawing are forfeited, according to the Wisconsin Lottery's website.
What should you do if you win the jackpot?
“Get a tax attorney and a tax accountant right off the bat and then a financial adviser,” Steve Azoury, owner of Azoury Financial in Troy, Michigan, told USA Today. “They’ll work hand in hand to figure out the plan.”
Azoury said he has advised many lottery winners, including a $181 million winner.
How much do you bring home?
That depends on how you decide to take your money and complex state laws, according to a USA Today report.
If you win the Mega Millions lottery, you’ll likely be propelled into the highest federal tax bracket. Your state of residency and where you bought the winning ticket can greatly impact what you pay in state taxes.
Medora Lee of USA Today contributed to this report.
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This article originally appeared on Milwaukee Journal Sentinel: What you need to know about the $940 million Mega Millions jackpot
