Mega Millions Prizes
Mega Millions offers nine different prize tiers, from matching the Mega Ball alone, to the jackpot, which is won when all five main numbers and the Mega Ball are matched. The jackpot starts at $50 million; if no one wins the jackpot in a drawing, it rolls over to the next one. With no cap in place, jackpots often reach hundreds of millions of dollars.
The Mega Millions payout chart below shows a breakdown of all the different prizes that are available, as well as the odds of winning each one:
| Prize Tier | Odds of Winnings | Prize* |
|---|---|---|
|
5 + Mega Ball
|
1 in 290,472,336 | Jackpot |
|
5
|
1 in 12,629,232 | $1 million |
|
4 + Mega Ball
|
1 in 893,761 | $10,000 |
|
4
|
1 in 38,859 | $500 |
|
3 + Mega Ball
|
1 in 13,965 | $200 |
|
3
|
1 in 607 | $10 |
|
2 + Mega Ball
|
1 in 665 | $10 |
|
1 + Mega Ball
|
1 in 86 | $7 |
|
Mega Ball
|
1 in 35 | $5 |
| Overall chances of winning: 1 in 23.07 | ||
*The payouts shown above are the base amounts. If you win a non-jackpot prize, it will always be increased due to the multiplier feature.
Multiplier
The Multiplier feature is built-in to every ticket purchase, rather than an optional add-on like it used to be with the Megaplier. A random value - 2x, 3x, 4x, 5x or 10x - is assigned to each Mega Millions play. If you win, your payout will be increased accordingly. See the How to Play page for more information. The prize chart below shows a pay scale of how the multiplier can increase the value of rewards.
| Prize Tier | 2X | 3X | 4X | 5X | 10X |
|---|---|---|---|---|---|
|
5 + Mega Ball
|
Jackpot | Jackpot | Jackpot | Jackpot | Jackpot |
|
5
|
$2 million | $3 million | $4 million | $5 million | $10 million |
|
4 + Mega Ball
|
$20,000 | $30,000 | $40,000 | $50,000 | $100,000 |
|
4
|
$1,000 | $1,500 | $2,000 | $2,500 | $5,000 |
|
3 + Mega Ball
|
$400 | $600 | $800 | $1,000 | $2,000 |
|
3
|
$20 | $30 | $40 | $50 | $100 |
|
2 + Mega Ball
|
$20 | $30 | $40 | $50 | $100 |
|
1 + Mega Ball
|
$14 | $21 | $28 | $35 | $70 |
|
Mega Ball
|
$10 | $15 | $20 | $25 | $50 |
| Odds of Being Applied | 1 in 2.13 | 1 in 3.2 | 1 in 8 | 1 in 16 | 1 in 32 |
Cash vs Annuity
If you win the jackpot, you have the option of receiving your winnings as either a cash lump sum, or an annuity payment.
The annuity option entitles you to the full advertised jackpot amount before tax, paid in 30 instalments over 29 years. The first payment would be made immediately, with each subsequent payment increasing by 5%.
The benefits of annuity payments are that you receive the full jackpot amount - as opposed to a reduced cash value - and you have the security of receiving a steady income for the foreseeable future.
However, you also have the option to receive the jackpot as a one-off cash lump sum, though the value of a lump sum payout is always less than it would be for the annuity option. This is because the cash prize represents the actual funds in the jackpot pool at the time of the draw, where the annuity value is based on the lottery’s expected return from investing the cash sum over 29 years. The annuity sum is guaranteed to the player and they receive the full amount even if the lottery makes investments that do not achieve the expected return.
Many players have chosen the lump sum over annuity payments, despite the lower overall value, because if they invest their winnings correctly, their return on investment could be higher than 5% per year – leading them to be better off in the long term.
If an annuity winner dies before receiving all of their payments, the money transfers to their estate or to a beneficiary designated by them. Different states have different rules on whether the estate receives annual payments or the balance of the award; check with your state lottery for more information.
Prize Rules
All prizes must be claimed in the state where the tickets were purchased. Each state has its own rules about when and how winnings must be claimed; it is your responsibility to come forward before your ticket expires, and through the correct channels. Visit the How to Claim page for more information.
Winning tickets must be checked and validated by the lottery operator in the state where the ticket was bought, or by an agent of the operator, such as a licensed retailer, before prizes can be paid out. If you do win a large lottery prize or jackpot, you will be liable for federal taxation in the US, regardless of whether or you're a resident or citizen. This is set at a rate depending on your total annual income, plus the size of your winnings. The lottery makes an immediate 25 percent federal withholding on winnings of more than $5,000, and most states levy a local withholding, although there are ten which do not.
Below are the tax withholdings by state, although certain other factors – such as residency – could affect these. For further advice, consult a professional financial advisor.
| State/Jurisdiction | State Tax |
|---|---|
| California | 0% |
| Florida | 0% |
| New Hampshire | 0% |
| Puerto Rico | 0% |
| South Dakota | 0% |
| Tennessee | 0% |
| Texas | 0% |
| U.S Virgin Islands | 0% |
| Washington State | 0% |
| Wyoming | 0% |
| North Dakota | 2.9% |
| Mississippi | 3-5% |
| Pennsylvania | 3.07% |
| Indiana | 3.23% |
| Colorado | 4% |
| Missouri | 4% |
| Ohio | 4% |
| Oklahoma | 4% |
| Virginia | 4% |
| Louisiana | 4.25% |
| Michigan | 4.25% |
| Arizona | 4.8% |
| Arkansas | 4.9% |
| Illinois | 4.95% |
| Iowa | 5% |
| Kansas | 5% |
| Kentucky | 5% |
| Massachusetts | 5% |
| Nebraska | 5% |
| New Jersey | 5-8% |
| North Carolina | 5.25% |
| Georgia | 5.75% |
| Rhode Island | 5.99% |
| New Mexico | 6% |
| Vermont | 6% |
| Idaho | 6.5% |
| South Carolina | 6.5% |
| West Virginia | 6.5% |
| Delaware | 6.6% |
| Montana | 6.9% |
| Connecticut | 6.99% |
| Maine | 7.15% |
| Minnesota | 7.25% |
| Wisconsin | 7.65% |
| Oregon | 8% |
| Washington D.C | 8.5% |
| Maryland | 8.95% |
| New York | 10.9% |