Mega Millions Tickets
A Brief History And Overview Of Mega Millions Tickets
MegaMillions Tickets
As those who buy Mega Millions Tickets regularly know, Mega Millions replaced The Big Game back in 2001. Since then, most Mega Millions Tickets jackpots have started as high as twelve million dollars which can either be paid out in monthly installments or as a cash option. However, if no winner is chosen during a game, then the prize amount increases until such a jackpot is won.
Also, whether one chooses the installment plan, or cash option on such winning Mega Millions Tickets, the amount of winnings after taxes is often about the same. So, one can decide for oneself which Mega Millions Tickets payout option is best in relation to other concerns such as income and other financial obligations. Still, when one wins such a big amount of money, whether playing MegaMillions Tickets or otherwise, most often one also has to pay a huge portion of such winnings to the Federal and State governments under either gift, or capital gains tax law.
Of course, if one is lucky enough to hold one of the possible Mega Millions Tickets which is a winner and becomes a millionaire, then often paying such taxes is not difficult. However, for those who do not, or forget to do so, one can end up having to pay huge fines on such Mega Millions Tickets winnings, or even spend time in jail for tax evasion. As such, if one plans on playing and wins such a prize whether through Mega Millions or otherwise, one need be sure and pay any taxes owed on such money as soon as possible.
So, how are the winning numbers related to Mega Millions Tickets chosen? Currently, Mega Millions uses a ball system to draw such winners. Of course, in jurisdictions where one can multiply their winning by playing an extra dollar, most individuals tend to do so. For, while the Mega Millions only cost a dollar, adding a second dollar can often increase winnings times four if one is lucky enough to win the biggest prize in such a game.
After such drawings, Mega Millions winners are announced every Tuesday at 11 PM EDT on Tuesdays and Fridays, including Holidays. However, to be considered for each weekly drawing, one must have such MegaMillions tickets in hand at least fifteen minutes before a scheduled drawing. As such, most lottery outlets cut off the sale of Mega Millions tickets within fifteen to thirty minutes prior to such drawings.
So, how long have these great Mega Millions tickets which one can purchase to have a chance to win millions of dollars been around? The Big Game Jackpot, Mega Millions predecessor started in Virginia, Michigan, Massachusetts, Maryland, Georgia and Illinois in August of 1996 with drawings held every Friday. After which, in 1999, New Jersey joined the Big Game and winners were later given the option to take such winnings in installments or as a lump cash payment during the same year.
Buying Mega Millions Tickets
Then, in 2002, after New York and Ohio, the game became known as The Big Game Mega Millions. After which, Texas not only joined MegaMillions but become the first and only state to offer a megaplier option which increased such winnings. As such, the megaplier which is similar to the Powerball Power Play is only available in areas where such Powerball games are played. As such, no original Mega Millions outlets which have been in existence before January 2010 have added such megaplay options.
To this end, while Mega Millions and Mega Millions Tickets are best known by this current name, the actual ideology behind such a game started with the Big Game in 1996. After which, with the addition of new member States in the mix, the game changed is name to the Big Game Mega Millions. Of course, more recently the game has eliminated the Big Game aspect along with the ball logo, with the game now known simply as Mega Millions which offers the option of winning annual installments or a cash payout when one holds such Mega Millions tickets which match all winning numbers.
