MEGA Millions players have been urged to double-check their tickets as a $1 million prize has not yet been claimed.
The slip was sold at a Cub grocery store in Blaine, Minnesota before the New Year’s Eve draw.
GettyA Mega Millions ticket was sold ahead of the draw on New Year’s Eve[/caption]Lotto officials boasted about the big win in an X post on January 2.
Minnesota lotto bosses said 2025 had started with a “big bang.”
The player matched all five white balls but agonizingly missed out on the $20 million jackpot at the time by just one number.
But, they still managed to defy odds of one in around 12.6 million to achieve the feat.
The odds of winning the jackpot on the game of chance are one in 302.6 million.
In Minnesota, players who win over $50,000 must go to the lottery headquarters in Roseville.
And winners have been warned that it can take up to two years for a player to be paid out.
Gamblers tend to have a year to claim their windfall.
The Mega Millions jackpot was last won on December 27 by a gambler in California.
They will have a huge choice to make when they decide to come forward.
The winner will either be able to receive their prize as a lump sum or in the form of installments.
There was no winner of the prize following Tuesday night’s draw, and it has rolled over.
The jackpot now stands at $77 million, with a cash option of $34.1 million.
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.
This is a developing story…
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