![]() ![]() The cash value plus the interest is what creates the prize. The lottery takes the cash value of the prize and invests it over that period. A player choosing the annuity gets the entire prize amount, but the lottery pays out the money in installments over 30 years.The money is yours to then either spend or invest, but they don't get the full value of the prize. This is the amount of money the lottery would have invested over a period of time to equal the prize. ![]() A player choosing the lump sum gets the cash value of the prize.If someone wins the $970 million Mega Millions jackpot, and they choose the lump sum payout they win $548.6 million - a lot of money, but still quite a reduction. Saturday's Powerball jackpot of $430 million would be cut to $248 million. Some accuse lottery officials of false advertising on this issue. If the prize is over $100,000, a player must come to lottery headquarters in Raleigh. If the prize is between $600 and $99,999 the player can claim it at any of the six lottery claim centers in the state. If it’s a prize under $600 the player can claim it at any store that sells lottery tickets. In Tuesday’s drawing, 93,726 Mega Millions tickets sold in the state won a prize. In Wednesday’s drawing, 48,014 Powerball tickets sold in North Carolina won a prize. Each game has two types of tickets, one costing $2 and the other $3. Prizes can range from $2 to $5 million depending on the game and type of ticket. history has given you lottery fever.īoth Mega Millions and Powerball offer players eight ways to win other than the jackpot. Powerball odds are just slightly better at 1 in 292.2 million.īut somebody has to win, right? And if you're reading this story, you'll probably buy a ticket so here are five things to think about if the second largest jackpot in U.S. It might be nice to dream, but look at reality. The odds of winning the Mega Millions jackpot are 1 in 302.5 million. Maybe you'd even settle for the $430 million jackpot in Saturday's Powerball drawing? Imagine winning almost $1 billion Friday in the Mega Millions lottery game. ![]()
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