₹12,834 crore prize: Lottery enthusiasts will have a shot at Mega Millions jackpot

livemint.com:

₹12,834 crore) prize, making it the third-largest jackpot in the annals of US lottery history. This colossal sum has been steadily amassing over the past few months, a result of a remarkable 31 consecutive draws without a single winner clinching the top prize. Rewind to April 18, the last time someone struck gold and walked away with the coveted jackpot.

With each unsuccessful attempt, this incredible windfall inches closer to the record-breaking $2.04 billion ( ₹16,892 crore) Powerball jackpot won by a fortunate Californian just last year. However, securing a Mega Millions jackpot is no easy feat, with odds clocking in at a staggering 1 in 302.6 million. Now, brace yourselves for a decision dilemma: the grand total of $1.55 billion can either be awarded in yearly instalments spread over three decades, or as a tempting lump-sum option.

Opting for the latter, the winner stands a chance to pocket an estimated $757.2 million ( ₹6,270 crore), US News reported. But, before the dreams of unimaginable wealth fully take flight, Uncle Sam will want a share. Federal taxes will be nibbling into the prize money, and not to forget about the various state taxes that also come into play.