If you win the $314 million Mega Millions jackpot, here's what to do first to protect your windfall

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Each jackpot starts at a sum determined by ticket sales and interest.

If no one wins the jackpot, the next drawing will be even larger, with the jackpot increasing each time. Note: The jackpot has changed from its previous structure.

Frequently Asked Questions 1. Virgin Islands.

Now, nearly every U. Since it began, the name has changed twice: to "The Big Game Mega Millions" in and to "Mega Millions," as it's mega money how to make today, in In OctoberMega Millions changed its structure, making it harder to win the jackpot but easier to win a million-dollar prize.

The changes also resulted in larger jackpots, with the size of the starting jackpot growing by nearly three times its size. A similar redesign was made five years earlier, in October A "Just the Jackpot" option ticket was also added and some of the non-jackpot payouts were increased. These changes put Mega Millions more in line with the Powerball lottery, which has been attracting attention due to its record-breaking jackpots. Mega Millions currently holds the records for the third- and fourth-largest U.

Could You Be the Next Mega Millions Winner?

To play the Mega Millions lottery, you must pick five numbers between 1 and 70 and one additional number between 1 and how to earn money for a student The additional number is known as the "Mega Ball. As with Powerball, each type of ball has its own color.

Contact us and we'll be glad to answer you. What is Mega Millions? Virgin Islands; a total of 47 jurisdictions. See the Where To Play page for details.

The five balls numbered from 1 to 70 are white and the Mega Ball is gold. The value of the Megaplier is drawn at random at the same time that the winning numbers are generated.

You have the option to choose your lottery numbers yourself or to use the quick pick option and let the computer randomly generate the numbers you will play.

More Info: Want to boost your odds of becoming a lottery winner? Mega Millions' winning numbers are drawn from two drums, one containing 70 balls and one containing 25 balls.

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The first five numbers are drawn from the first drum, and the Mega Ball is drawn from the second drum. A seventh number is then drawn, which determines the level of the Megaplier, which can range from 2 to 5 times the prize value. If your five numbers match the five drawn from the first drum in any order, and your Mega Ball matches the number drawn from the second drum, you've won the jackpot. It's also possible to win a secondary prize for matching a fewer number of balls, as outlined below.

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The value of the jackpot will be announced before ticket sales begin. Only the Mega Ball: Odds of 1 in Overall odds mega money how to make winning any prize: 1 in These odds are from April 7, To see whether the odds have changed since then, visit the Mega Millions website.

Choose five numbers from 1 through 70 and one Mega Ball number from 1 through Make sure you buy your tickets for each Mega Millions drawing by 9 p. Tickets purchased after 9 p. During the drawing, a Megaplier number is randomly selected from a weighted field of one 5, three 4s, six 3s and five 2s.

Mega Millions winners are drawn on Tuesdays and Fridays at p. You can buy tickets up to 15 minutes before that time. Winning numbers are announced on television, in newspapers, and in the stores where you can buy tickets, or you can find them by simply visiting the Mega Millions website though you can't buy tickets online.

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If you'd like to see the drawings on your own schedule, check out the Mega Millions YouTube page. Many of the state lottery websites also have handy lottery apps or RSS feeds that can keep you abreast of the latest winning numbers.

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More Info: If you're interested in state-specific lottery results, see this article: Winning Lottery Numbers by State. In all but five states, you have to reveal your identity publicly if you are a Mega Millions winner.

The states that allow you to collect your winnings anonymously are Maryland, Ohio, Kansas, Delaware, and North Dakota. If you win the jackpot, have the choice of two payout options: a lump-sum payout or an annuity.

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The annuity will be paid out over 29 years, receiving 5 percent more each year than the year before. If the winner passes away before the annuity has been paid out, his or her heirs will continue to receive the payments.

Florida Lottery - Mega Millions - How to Play

If the winner takes the lump-sum payout, he or she will receive the entire jackpot at once, and will also be responsible for taxes on the entire amount at once. People who take the annuity option pay taxes on their winnings each year.

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That only means that the tickets are not sold in those states. Residents can purchase Mega Millions tickets if they travel to states where they are sold.