Mega Millions Myths Debunked

With Friday’s Mega Millions jackpot set to hit US$415 million, the highest prize seen on the game since December 2013, players will be rushing to buy tickets with the hope of becoming one of the biggest lottery winners of all time. The larger the jackpot grows, the more that people will talk about it, and a lot of misinformation can be thrown around at times. Here’s some of the top Mega Millions myths debunked:

Mega Millions Myths Debunked

Mega Millions is harder to win when the jackpot is higher.

When you buy a Mega Millions ticket, you are not competing against other players- you’re competing against the number matrix and hoping that the combination randomly selected in the draw will match the numbers you played. The odds do not change as the jackpot grows larger. Whether the top prize is US$15 million or US$500 million, you’ll still have a 1 in 258,890,850 chance of winning the jackpot.

It’s true that the jackpot is divided accordingly if more than one ticket holder wins it, but this doesn’t make it harder to win; it just means that more than one person held the winning combination, which can happen for any number of reasons.

 

Jackpot winners don’t receive the full amount of their prize.

Should you match all five main numbers and the Mega Ball to win the jackpot, you’ll be given one of two payment options: take the lump sum or an annuity. If you select the annuity, you will receive an initial payment followed by 29 annual payments, each of which is five percent larger than the last. If you take the lump sum, you will receive a lower amount as this represents the amount of cash available in the jackpot prize pool.

The reason why the annuity is higher is because the advertised cash value of the jackpot is then invested by lottery officials to fund your annuity payments. You could just as easily take the lump sum and invest it yourself; the method you choose is really just depends on your personal circumstances.

 

You can’t stay anonymous if you win Mega Millions.

You can stay anonymous if you win Mega Millions - but only if you bought your ticket in certain states or jurisdictions. These are Delaware, Kansas, Maryland, North Dakota, Ohio, South Carolina, Puerto Rico and Wyoming. In all other participating states and jurisdictions, your identity may be a matter of public record, though you can try to keep your name out of the papers by using a blind trust.

 

Only American citizens can play Mega Millions.

This is definitely a myth. You can play Mega Millions from anywhere in the world by using a lottery concierge service. All you need to do is create a player account, buy your tickets, and pay for your entries. Once the order has been processed, an agent based in a participating state will buy the tickets on your behalf and send scanned copies to your account as proof of your ownership of the entries. After the draw, they will be checked against the official results and any prizes you’ve won will be paid into your account. If you win a big prize, or hit the jackpot, the concierge service will contact you and arrange for you to claim your winnings in person.

 

There you have it - the top Mega Millions myths have been solidly debunked. Armed with your new knowledge of one of America’s biggest lotteries, you can go forth and play with confidence. Good luck!

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Article Last Modified: Friday, 1 July 2016 12:04:52+01:00
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