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Mega Millions Annuity Jackpot Analysis for Pennsylvania

Media: You may freely use any information on this page, but you must credit www.usamega.com.

The Mega Millions annuity jackpot is awarded according to an increasing rate schedule, which increases the amount of the annuity payment every year. The table below shows the payout schedule for a jackpot of $214,000,000 would be for a resident of Pennsylvania, including taxes withheld.

Please note, the amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year. They are not intended to specify the final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money. (For example, if the winner gave all their fortune to charity, they may actually end up getting money back that was initially withheld, whereas someone who buys a new mansion and a fleet of new cars would probably end up owing more taxes than shown.)

Mega Millions Annuity Jackpot Analysis for Pennsylvania Media: You may freely use any information on this page, but you must credit www.usamega.com . The Mega Millions annuity jackpot is

NOTICES

DEPARTMENT
OF REVENUE

Mega Millions® Terminal-Based Lottery Game

[47 Pa.B. 6787]
[Saturday, October 28, 2017]

Under the State Lottery Law (72 P.S. §§ 3761-101—3761-314) and 61 Pa. Code § 875.4 (relating to notice of terminal-based lottery game rules), the Secretary of Revenue hereby provides public notice of changes to the Mega Millions® terminal-based lottery game rules that were published at 43 Pa.B. 5896 (October 5, 2013) and 44 Pa.B. 137 (January 4, 2014).

The following changes to the Mega Millions® terminal-based lottery game will be effective upon publication.

This amendment announces a matrix change for the Mega Millions® terminal-based lottery game, whereby the first five numbers are selected from a field of 70 numbers from 1 to 70, and whereby the last number is selected from a field of 25 numbers from 1 to 25. This amendment also announces a price change from $1 to $2.

The correct version of this document is as follows, with ellipses referring to the existing text as it appeared at 43 Pa.B. 5896—5902 and 44 Pa.B. 137:

2. Definitions: The following words and terms, when used in this notice, have the following meanings, unless the context clearly indicates otherwise:

Mega Millions® winning numbers—The six numbers, the first five numbers from a field of 70 numbers ranging from 1 through 70, and the last one from a field of 25 numbers ranging from 1 through 25, randomly selected at each Mega Millions® drawing that shall be used to determine winning Mega Millions® plays.

3. Price: The price of a Mega Millions® play is $2. Additional plays may be purchased at the discretion of the player. The Megaplier® promotion may be exercised, at the discretion of the player, for an additional $1 per play.

4. Description of the Mega Millions® lottery game:

(b) For a $2 purchase, the player gets a ticket containing one play. Each play shall consist of six numbers, the first five from a field of 70 numbers ranging from 1 through 70 and the last one from a field of 25 numbers ranging from 1 through 25.

(c) Players can win a prize, as described in section 7(b) (relating to prizes available to be won and determination of prize winners), by matching, in the same play, five, four, three, two, or one of the five numbers selected from the field of numbers 1 through 70 and matching the one number selected from the field of numbers 1 through 25, with the Mega Millions® winning numbers selected in the Mega Millions® drawing in which the ticket is entered. Or players can win a prize, as described in section 7(b) (relating to prizes available to be won and determination of prize winners), by matching, in the same play, five, four, or three of the five numbers selected from the field of numbers 1 through 70 with the winning numbers selected from the field of numbers 1 through 70, in the Mega Millions® drawing in which the ticket is entered. Or players can win a prize, as described in section 7(b) (relating to prizes available to be won and determination of prize winners), by matching, in the same play, one number from the field of numbers 1 through 25, with the one winning number selected from the field of numbers 1 through 25 in the Mega Millions® drawing in which the ticket is entered.

5. Mega Millions® bet slip and ticket characteristics:

(c) Through the use of a bet slip the player may select up to five numbers from the field of numbers 1 to 70 and one number from the field of numbers 1 to 25 for each play purchased and select the number of drawings in which the plays are entered. Alternatively, a player may choose to have their numbers selected using the Quick Pick option, by marking the box for Quick Pick on the bet slip. A $2 wager entitles a player to play game A. A $4 wager entitles a player to play games A and B. A $6 wager entitles a player to play games A, B and C. An $8 wager entitles a player to play games A, B, C and D. A $10 wager entitles a player to play games A, B, C, D and E. Players are also given the option to select the Megaplier® promotion on the bet slip at the time of purchase for an additional $1 per play.

7. Prizes available to be won and determination of prize winners:

(a) An amount up to 55% of Mega Millions® gross sales for a Mega Millions® game drawing is anticipated to be reserved for prizes and allocated for payment of prizes as enumerated in sections 7(b) and 7(d) (relating to prizes available to be won and determination of prize winners).

(b) Determinations of the Mega Millions® prize winners are as follows:

(1) Holders of tickets upon which the player’s five numbers selected from the field of numbers 1 through 70 match the five winning numbers selected by the Mega Millions® drawing officials from the field of numbers 1 through 70 and the player’s one number selected from the field of numbers 1 through 25 matches the winning number selected by the Mega Millions® drawing officials from the field of numbers 1 through 25, in a single play, for the drawing in which the ticket is entered, shall be the winner of the jackpot category prize. Prize money allocated to the jackpot category prize will be divided into as many shares as there are winning jackpot category prize plays as provided in this section.

(ii) The minimum Mega Millions® annuity jackpot category prize shall not be less than $40 million divided by the number of plays entitled to a jackpot category prize.

(x) If a Mega Millions® Lottery purchases or holds the prize payment annuity for a prize won in that jurisdiction, that Mega Millions® Lottery’s game rules, and any prize payment agreement with the prize winner, shall indicate that the prize winner has no recourse on MUSL or any other Mega Millions® Lottery for payment of that prize.

(2) Holders of tickets upon which the player’s five numbers selected from the field of numbers 1 through 70 match the five winning numbers selected by the Mega Millions® drawing officials from the field of numbers 1 through 70, in a single play, for the drawing in which the ticket is entered, shall be the winner of a second category prize.

(3) Holders of tickets upon which four of the player’s five numbers selected from the field of numbers 1 through 70 match four of the five winning numbers selected by the Mega Millions® drawing officials from the field of numbers 1 through 70 and the player’s one number selected from the field of numbers 1 through 25 matches the one number selected by the Mega Millions® drawing officials from the field of numbers 1 through 25, in a single play, for the drawing in which the ticket is entered, shall be the winner of a third category prize.

(4) Holders of tickets upon which four of the player’s five numbers selected from the field of numbers 1 through 70 match four of the five winning numbers selected by the Mega Millions® drawing officials from the field of numbers 1 through 70, in a single play, for the drawing in which the ticket is entered, shall be the winner of a fourth category prize.

(5) Holders of tickets upon which three of the player’s five numbers selected from the field of numbers 1 through 70 match three of the five winning numbers selected by the Mega Millions® drawing officials from the field of numbers 1 through 70 and the player’s one number selected from the field of numbers 1 through 25 matches the one number selected by the Mega Millions® drawing officials from the field of numbers 1 through 25, in a single play, for the drawing in which the ticket is entered, shall be the winner of a fifth category prize.

(6) Holders of tickets upon which three of the player’s five numbers selected from the field of numbers 1 through 70 match three of the five winning numbers selected by the Mega Millions® drawing officials from the field of numbers 1 through 70, in a single play, for the drawing in which the ticket is entered, shall be the winner of a sixth category prize.

(7) Holders of tickets upon which two of the player’s five numbers selected from the field of numbers 1 through 70 match two of the five winning numbers selected by the Mega Millions® drawing officials from the field of numbers 1 through 70 and the player’s one number selected from the field of numbers 1 through 25 matches the one number selected by the Mega Millions® drawing officials from the field of numbers 1 through 25, in a single play, for the drawing in which the ticket is entered, shall be the winner of a seventh category prize.

(8) Holders of tickets upon which one of the player’s five numbers selected from the field of numbers 1 through 70 matches one of the five winning numbers selected by the Mega Millions® drawing officials from the field of numbers 1 through 70 and the player’s one number selected from the field of numbers 1 through 25 matches the one number selected by the Mega Millions® drawing officials from the field of numbers 1 through 25, in a single play, for the drawing in which the ticket is entered, shall be the winner of an eighth category prize.

(9) Holders of tickets upon which the player’s one number selected from the field of numbers 1 through 25 matches the one number selected by the Mega Millions® drawing officials from the field of numbers 1 through 25, in a single play, for the drawing in which the ticket is entered, shall be the winner of a ninth category prize.

(c) An amount up to five percent of a MUSL Mega Millions® Product Group member’s sales shall be placed in trust in one or more prize pool accounts and prize reserve accounts held by the MUSL Mega Millions® Product Group at any time that the prize pool accounts and the member’s share of the prize reserve account(s) is below the amounts designated by the MUSL Mega Millions® Product Group. The MUSL Mega Millions® Product Group has established a Prize Reserve Account (PRA) for the Mega Millions® game, which is used to guarantee the payment of valid, but unanticipated, jackpot category prizes that may result from a system error or other reason, to fund deficiencies in the Set-Aside Account, and to fund pari-mutuel prize deficiencies, subject to the limitations of these rules. The MUSL Mega Millions® Product Group has established the following prize pool accounts for the Mega Millions® game: the Grand Prize pool, which is used to guarantee payment of the immediate jackpot category prize; the Set-Aside Account, which is used to guarantee payment of the minimum or starting jackpot category prize; the Megaplier® prize pool account, which is described in section 10 (relating to Megaplier® promotion) of these rules; and the Low-Tier Prize Pool account, which holds the temporary balances that may result from having fewer than expected winners in the second through the ninth prize categories. The source of the Low-Tier Prize Pool is a MUSL Mega Millions® Product Group member’s weekly prize contributions less actual second through the ninth category prize liability. The source of the Set-Aside Account funding is the difference between the amount in the Grand Prize Pool and the amount needed to fund the jackpot category prize payments as determined by the Mega Millions® lotteries. The MUSL Mega Millions® Product Group, with approval of the MUSL Finance and Audit Committee, may establish a maximum balance for the prize pool accounts and prize reserve account. The MUSL Mega Millions® Product Group may determine to expend all or a portion of the funds in the prize pool accounts, except the Grand Prize pool account, and the prize reserve accounts for the purpose of indemnifying the MUSL Mega Millions® Product Group Members and the Mega Millions® Lotteries in the payment of prizes to be made by the participating lotteries, subject to the approval of the MUSL Board, and for the payment of prizes or special prizes in the game subject to the approval of the MUSL Finance and Audit Committee. The prize reserve shares of a MUSL Mega Millions® Product Group member may be adjusted with refunds to the member from the prize reserve account as may be needed to maintain the approved maximum balance and shares of the MUSL Mega Millions® Product Group member. Any amount remaining in the prize pool accounts or prize reserve account at the end of this gameshall be carried forward to a replacement game or expended in a manner as directed by the MUSL Mega Millions® Product Group in accordance with jurisdiction law.

8. Probability of winning. The following table sets forth all possible ways that a prize can be won in a single play, the corresponding prize, the probability of winning each prize and the percent of sales anticipated to be paid in prizes in each prize category:

A Play Matching The Mega
Millions® Winning Numbers
Category Prize Prize Probability Of Winning Per Play Percent (%) Of Sales Anticipated To Be Paid In Prizes
Five numbers from the field
of numbers 1 through 70 and
one number from the field of
numbers 1 through 25
Jackpot Jackpot 1:302,575,350 37.6509%
(Actual)
Five numbers from the field
of numbers 1 through 70
Second $1,000,000 1:12,607,306 3.9659%
Four numbers from the field
of numbers 1 through 70 and
one number from the field of
numbers 1 through 25
Third $10,000 1:931,001 0.5371%
Four numbers from the field
of numbers 1 through 70
Fourth $500 1:38,792 0.6445%
Three numbers from the field
of numbers 1 through 70 and
one number from the field of
numbers 1 through 25
Fifth $200 1:14,547 0.6875%
Three numbers from the field
of numbers 1 through 70
Sixth $10 1:606 0.8249%
Two numbers from the field
of numbers 1 through 70 and
one number from the field of
numbers 1 through 25
Seventh $10 1:693 0.7218%
One number from the field of
numbers 1 through 70 and
one number from the field of
numbers 1 through 25
Eighth $4 1:89 2.2376%
One number from the field
of numbers 1 through 25
Ninth $2 1:37 2.7298%

10. Megaplier® promotion.

(f) The odds of various Megaplier® numbers being selected in a Megaplier® drawing are:

Information included at this site has been derived directly from the Pennsylvania Code, the Commonwealth’s official publication of rules and regulations and from the Pennsylvania Bulletin, the Commonwealth’s official gazette for information and rulemaking ]]>