$326 Million Mega Millions Jackpot Win Is Largest In State History
Albany, NY - November 5th, 2014 - The New York Lottery is ready and eager to welcome the owner of the sole jackpot winning ticket sold for last night’s $326 million Mega Millions drawing. New York and the rest of the nation are awaiting the winner to claim the eighth largest Mega Millions jackpot ever offered in the game’s history and the largest ever won in New York.
The winner has one year from yesterday to claim the prize, and 60 days from the date of claim to choose between taking the prize as an annuity or lump sum.
“This really is the true luck of the draw, as the winner purchased a Quick Pick ticket instead of using pre-selected numbers,” said Gardner Gurney, Acting Director of the Division of the Lottery. “Now they are sitting on a gold mine.”
The annuitized prize will pay exactly $326 million in 30 annual, laddered payments. The lump sum prize represents the amount of money the Lottery would have to invest in order to pay out $326 million over the 30-year annuitized period. The lump sum value of this particular jackpot is $197,456,087 less required withholdings. Required withholdings include 25 percent federal tax and 8.82 percent New York State tax. Additional taxes apply for residents of New York City and Yonkers.
Last night’s Mega Millions jackpot win marks the 29th time a New Yorker has won the top prize on the multi-state mega jackpot game, which launched in 2002. At $326 million, the jackpot stands as the largest ever won in New York. Other recent New York Mega Millions jackpot winners include:
- “The Albany 7” (a group of State employees from the Capital Region) who split $319 million in March, 2011
- David Bruckner of California who claimed a $202 million jackpot on a ticket he purchased while visiting family on Long Island in 2011.
- Richard and Mary Morrison of Miller Place who split a $162 million jackpot in December, 2009
- Aubrey Boyce of Kew Gardens who set up the Archibald Trust to accept a $133 million jackpot in 2009
- To underscore the magnitude of the dollar amount, consider this: With $326 million, the winner would have enough cash to purchase a Lamborghini Roadster, an ocean-side estate in Sagaponack and a track-side mansion in Saratoga plus full tuition at NYU, Cornell and Columbia combined and still have more than $160 million left to play with and invest.
Also consider these comparisons. $326 million is:
- Enough to buy a fancy resort and spa in Maui or a private island in Hawaii
- On par with the developer of the widely popular game Minecraft, which made $326 million last year.
- More than twice what Lebron James has made in playing salary in the NBA
- The winning numbers for the November 4 Mega Millions drawing were 09 – 15 – 24 – 39 – 41 and Mega Ball 01.
About the New York Lottery
The New York Lottery continues to be North America’s largest and most profitable Lottery, contributing $3.17 billion in fiscal year 2013-2014 to help support education in New York State. The Lottery’s contribution represents 15 percent of total state education aid to local school districts.
New York Lottery revenue is distributed to local school districts by the same statutory formula used to distribute other state aid to education. It takes into account both a school district’s size and its income level; larger, lower-income school districts receive proportionately larger shares of Lottery school funding.
About the New York State Gaming Commission
The New York State Gaming Commission regulates all aspects of gaming and gambling activity in the state, including horse racing and pari-mutuel wagering, class III Indian gaming, video lottery terminal facilities at race tracks, the state lottery and charitable gaming.