Mega Millions and Powerball, the two U.S. multi-state lotteries, returned huge jackpots last week, with both prizes going to single ticket-holders. In Michigan, a single winner in the Mega Millions lottery won $1.05 billion, while in Maryland, a single Powerball ticket-holder netted a $731.1 million prize.
The Michigan ticket-holder’s prize, which came after a record run of 36 drawings without a jackpot winner, marked the third time a lottery jackpot had grown to more than $1 billion, and the second time a single ticket won $1 billion or more.
The winner will choose between being paid $1.05 billion in 30 annually increasing payments over 29 years or the lump-sum cash value of $776.6 million. According to USA Mega’s Mega Millions Jackpot Analysis, after all taxes are paid, the winner either will receive $617.9 million by the end of 29 years, or $450.5 million in cash all at once.
The winning ticket was sold at Kroger #632 at 47650 Grand River Ave in Novi, Michigan.
The Maryland winner can take the $731.1 million payout over 29 years or choose a lump-sum payout of $546.8 million. The winning ticket was sold at Coney Market in Lonaconing, which is in Allegany County in the Northwest part of the state, bordering Pennsylvania. The Powerball win is by far the largest prize in the Maryland Lottery’s history.
