Should you win a Mega Millions jackpot, you’ll select how to become compensated. There are two options to choose, this is the Annual Payout or Cash Option. Prize claim parameters change from condition to condition. Speak to your Mega Millions lottery for more information.
Award option: The Mega Millions award is compensated out as you immediate payment adopted by 29 annual payments. Each payment is 5% larger than the prior one. This can help safeguard winners’ lifestyle and getting power in periods of inflation.
For any typical jackpot of $200 million, the first payment could be about $3 million, and future annual payments would grow to around $12 million.
Once the jackpot is $300 million, each payment is two times as big. Once the jackpot is $75 million, each payment is half as big, etc.
Cash option: A 1-time, lump-sum payment that is equivalent to the money within the Mega Millions jackpot prize pool.