A LUCKY Mega Millions winner could lose half of their $344million winnings – as they still have not come forward.
The punter, who bought their ticket in Illinois, matched all six numbers on the game, making them the second jackpot winner of 2025.
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The player also managed to hit the jackpot just weeks before the game underwent a significant revamp.
The ticket was sold at a store in Cortland and the player came up trumps on the draw that took place on March 25, according to Mega Millions officials.
But, the winner will face a dilemma.
The fortunate winner can either receive their prize as a lump sum, or take the annuity.
The jackpot prize has a cash value of $159.1 million.
And there are further deductions to the cash prize.
In Illinois, players must pay a rate of 4.95% on their lottery winnings to the state.
Additionally, gamblers who win over $5,000 must pay 24% to the federal government.
In Illinois, Mega Millions players have one year to claim their prize, according to the state’s lottery.
However, if the player wants to receive their winnings as a lump sum, then the cash prize must be claimed 60 days after the draw.
If they don’t come forward in the given time period, then they will only be able to go down the annuity route.
This would mean that the massive prize would be divided into smaller payments paid out over three decades.
The last time a Mega Millions player won the jackpot was in Arizona on January 17.
Lottery winnings: lump sum or annuity?
Players who win big on lottery tickets typically have a choice to make: lump sum or annuity?
The two payout methods can impact how much money you get from your prize.
Annuities pay out slowly in increments, often over 30 years.
Lump sums pay all at once but in a smaller amount, as taxes are withheld in one go. That means 24% of your prize goes to Uncle Sam right away. Many states tax winnings as well.
Annuities can provide winners time to set up the financial infrastructure required to take in a life-changing amount of money, but lump sums have the benefit of being taxed only once.
Inflation is also worth considering when making a choice, as payouts do not adjust with the value of a dollar. That means that you’ll likely be getting less valuable money towards the end of an annuity.
Each state and game pays out prizes differently, so it’s best to check with your state’s lottery to confirm payment policies. A financial advisor can also help you weigh the pros and cons of each option.
Experts have varying opinions on whether to take the lump sum or take the annuity.
Mega Millions players also underwent a series of changes from April 5.
Before this deadline, it cost players $2 to buy a ticket, but the price of one ticket has since jumped to $5.
The move has sparked backlash, with some players suggesting that they would stop buying a ticket due to the increased price.
One player complained about the new prices on Reddit: “That is too high.
“A 1 or 2 dollar purchase can be justified every so often.
“At $5 it is going to stop a lot of people from buying.”
Another said: “This is gonna go bad for them, who’s gonna wanna throw $5 away for 1 ticket?”
Mega Millions chiefs have made to to highlight that the price hike is only the second rise in the history of the game.
Remember to gamble responsibly
A responsible gambler is someone who:
- Establishes time and monetary limits before playing
- Only gambles with money they can afford to lose
- Never chase their losses
- Doesn’t gamble if they’re upset, angry, or depressed
If you or someone you know is struggling with gambling addiction, call the National Gambling Helpline at 1-800-522-4700 or visit the National Council on Problem Gambling online.
Players also saw their odds of winning improved as the new price came into effect.
There was is a one in 24 chance of winning a prize.
But this has improved to one in 23 since April 5.
Players have also seen improved odds of winning the jackpot.
Before the changes, gamblers had a one in 302.6 million chance of landing the big prize.
But those odds have jumped to around one in 290.5 million.
Breakeven prizes have also been eliminated.
This means that any victory is now worth more than the cost of a ticket.
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