Super-sized lottery jackpots are great for sales and earn free media exposure on newscasts and websites. In order to keep top prize amounts more newsworthy, lottery officials make it harder to win the jackpot and increase the probability of carrying it over. This creates more interest in the lottery and helps to boost ticket sales. However, it can also make winning the jackpot difficult, and the prize could end up in the hands of a cheater or a shady character.
The Mega Millions lottery has an estimated jackpot of 830 million dollars, which is the third highest in the lottery’s history. In addition, this jackpot is the fourth-largest lottery prize in United States history. The prize money is paid out in two ways: cash and annuity payments. While both payout options carry a small risk, the cash option offers the biggest payout. While there is no certainty that a jackpot winner will emerge, the odds of being selected are very high.
Purchasing a lottery ticket is one thing, holding onto it is quite another. Developing a financial and wealth management plan are critical steps to ensuring you can keep your lottery prize and avoid the common mistakes that many lottery winners make. Whether you plan to use it for retirement, charitable endeavors, or other goals, a qualified financial advisor can help you make the most of your money. A reputable attorney will not only ensure that you receive your prize, but will also help you structure your assets.