Mega Millions Ticket Worth $1.13B Redeemed Nine Months After Drawing

The Mega Millions ticket valued at nearly $1.13 billion, if the winner had opted for the 30-year annuity, has now been claimed. 

On March 26, 2024, one ticket matched all six numbers drawn for Mega Millions. The numbers that won were 7, 11, 22, 29, 38, and the gold Mega Ball was 4. 

Almost nine months later, the fortunate winner who beat the slim odds of one in over 302.5 million has revealed themselves, though they are keeping their identity private. On Monday, New Jersey Lottery officials revealed that the winning jackpot ticket purchased at the ShopRite grocery and liquor store on Route 66 in Neptune Township has been claimed. 

The victor selected the lump sum cash choice of $537.5 million. Although certain states mandate that significant lottery winners disclose their identity to uphold public trust, New Jersey permits lottery winners to stay anonymous for prizes exceeding $600. Winners of prizes below that threshold are required to disclose their identity to lottery officials in order to receive their payout. 

Distribution of Payments 

Besides granting winners anonymity, New Jersey allows them up to a year to claim their prizes. For a significant victory such as the March 2024 Mega Millions jackpot, the 12-month period allows winners sufficient time to seek guidance from their financial advisors and/or attorneys in determining whether to accept the total value of the jackpot distributed over 30 years or the lump sum cash option. 

In this instance — like many big jackpot winners — the victor chose the cash option. The $537.5 million amount is prior to a federal tax of 37% and an effective state tax of 10.75%. 

The federal tax decreases the net payout by $198.8 million. The state lowers the payout by $57.8 million, resulting in a total tax obligation of about $256.6 million, which is close to half of the initial prize. The total cash prize after deductions is approximately $280.9 million. 

Lottery officials had limited additional information to share, such as the winner's location, gender, age, and background regarding their experience with Mega Millions. ShopRite announced that it contributed its $30,000 bonus prize for selling the winning ticket to nearby food banks. 

Permanently Unidentified 

In 2020, legislators in New Jersey modified the state's lottery regulations to permit anonymous claims. The bill was approved by the New Jersey Legislature with unanimous backing. 

Lottery representatives stated that the $1.13 billion jackpot winner “prioritizes privacy” and chose to stay anonymous.

"A 2020 New Jersey law allows lottery winners to remain anonymous indefinitely, and the identity of winners will not be included in materials available to public inspection under the State’s Open Public Records Act,” a release from the New Jersey Lottery explained. “Players claiming Lottery prizes worth at least $600 must still provide their identity to lottery officials to claim a prize.”

With a total of $537.5 million before taxes, the Mega Millions prize won in March 2024 ranks as the ninth-largest cash lottery winnings in U.S. history and the sixth-highest in the history of Mega Millions. Mega Millions is set to transform another life soon, with the announced annuitized jackpot for tomorrow night's drawing at $944 million ($429.4 million in cash).