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Mega Millions Jackpot has surpassed a billion dollars

Would you take a lump sum or annual pay out if you won?
The Mega Millions jackpot has climbed to over $865 million
Posted at 10:26 AM, Jul 29, 2022
and last updated 2022-07-29 11:26:42-04

This is the third time in the 20-year history of Mega Millions the jackpot surpassed the $1 billion dollar mark. On Tuesday night, no ticket drawn matched all six numbers plus the gold mega ball which was 15. Leaving the billion dollars up for grabs.

There have been 29 drawings since the jackpot was last won in Tennessee on April 15.

Nationwide, the Lottery Commission said there have been 28.1 million winning tickets at all prize levels, including 42 worth $1 million or more.

The last time someone won the Mega Millions jackpot in Texas was in September 2019.

“A person in Leander, Texas who remained anonymous won a $227 million Mega Millions jackpot," said Gary Grief Executive Director Texas Lottery Commission.

The Executive Director for the Texas Lottery Commission, Gary Grief said if you win, whether or not you take a lump sum or annual payment over the next 30 years is a personal choice.

“I would suggest that anyone who is fortunate enough to win that jackpot, go seek out the best legal and financial advice that you can possibly find. And have a long conversation about how you want to claim that," said Grief.

So what happens to the money if you were to take the payout but passed away before the 30 years is up?

“It will go however it is directed in your will or your documentation. And of course, if a person dies without a will the money like that will go to their heirs, whoever that may be," said Grief.

The record jackpot for the Mega Millions is $1.537 billion won in South Carolina in October of 2018.

And with tonight’s drawing over a billion dollars again, that has many thinking of the possibilities.

“A new car, a new car. Is there a car type? No, no just a new one paid off right off the top," said Moses Duran.

“I would probably think about who I am going to share it with and make sure they are doing fine and everything is okay and then just travel with the rest," said Johnny Garcia.

“Probably make a great big donation to the arts center of Corpus Christi," said Jennifer McClaren.

But what about all the profit from the mega millions in Texas? Where does that go? The Executive Director for the Texas Lottery Commission said it goes towards public education.

"Last year alone, the Texas Lottery contributed almost $2 billion to public education," said Grief.

The last time someone won the Mega Millions jackpot in Texas was in September 2019. The drawing is at 10:00 p.m. July 29, and you have 180 days to claim this prize.