A young woman from Michigan won a billion dollars in the Mega Millions lottery. Winnings are taxable. To receive the full amount, the owner of the lucky ticket would have to decide to spread the payout over 30 years.
Friday’s ticket was bought in Novi, a suburb of Detroit, according to ABC News. The winning numbers were: 4-26-42-50-60 with an additional 24.
Mega Millions and many other US lottery jackpot winners have two options. They can choose cash at a time, but if they win a billion, it will be around $ 530 million after taxes are taken. The second option is to decide to collect only part of the money at once and spread the rest of the amount into 29 consecutive annual installments. They then get the full winnings minus taxes.
The owner of the fate is a young woman
Friday’s win is the second largest in the history of Mega Millions and the third in the lottery in the United States, said representatives of Mega Millions. The largest win in the US and the world in general – $ 1.537 billion – fell on October 23, 2018 and went to a person from South Carolina.
In Michigan, winners do not need to reveal their identity, but must report in person to collect the money. A photo published by ABC News shows that the owner of a lucky fortune is a young woman.
According to Mega Millions, the top prize in this Michigan lottery was previously won 17 times. The biggest jackpot win in the state of any lottery to date was $ 337 million and went to the person who purchased the Powerball ticket.
97 cents on every dollar goes to schools
“About 97 cents of every dollar spent on the lottery is being returned to the state in the form of grants to the School Assistance Fund, payouts to lower prize winners, and commissions to sellers,” Michigan lottery officials said. In fiscal 2019, they added, the lottery donated more than $ 1 billion to public schools in the state. Since its inception in 1972, Mega Millions has committed over $ 23 billion to support public education in Michigan.
A $ 731.1 million Powerball lottery winning ticket was sold in Allegany County, Maryland, on Wednesday. It was the fourth largest win in Powerball history and the sixth largest in American lotteries.
Main photo source: PAP / EPA / ERIK S. LESSER