New York Lottery Winner May Not Receive Full $20 Million Jackpot

One lucky lottery player won $20 million in a Mega Millions drawing last monthbut the New York winner may not receive the full amount he anticipated.

In the Mega Millions drawing held on April 18, a ticket purchased in New York State was the jackpot winner by matching all six numbers.

The player hit all five white balls and the Gold Mega Ball to win the jackpot.

LThe winning numbers for the draw on Tuesday, April 18 were: 07, 09, 15, 19 and 25.

The Golden Mega Ball was 02.

However, the winner, who has not yet collected their prize, may not receive the full $20 million won.

And it is that Mega Millions, like other lotteries with great prizes, allows winners to choose between two options when it comes to collecting the jackpots.

Winners may elect to receive the advertised jackpot, which in this case is $20 million, gradually over time in 29 annual payments.

Another option that winners have is to receive a smaller amount of cash at one time.

In this case, the cash amount for the jackpot is $10.5 million.

The amount is less because the winner will have to pay federal taxes. But, Because you live in New York, you will also have to pay additional state and municipal taxes.

Mega Millions tickets are sold in 46 participating jurisdictions and cost $2 to play.

But it’s not unusual for jackpot winners to receive much less than the advertised prize.

Keep reading:
Player had to pay $29,000 in taxes for winning a $100,000 lottery prize
· Woman was about to throw away a lottery ticket that had a prize of $1 million dollars
· Woman thinks she won $10,000 in the lottery, then they tell her it was $100,000 and finally they confirm it was $1 million
· 74-year-old man thought he had won $500, but he put on his glasses and noticed that the prize was $500,000
Monday Powerball jackpot grows to $97 million
· 77-year-old grandmother wins $50,000 in the lottery after following her instincts and buying a ticket because she liked the color
· Lottery player wins $5 million with a scratch card and reveals the curious strategy he used to choose the ticket