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There are two Mega Millions Jackpot Prize Payment Options. You can receive your prize in 30 annual payments or you can receive the prize in a lump sum cash payment. The Mega Millions annuity is paid out as one immediate payment followed by 29 annual payments. Each payment is 5% bigger than the previous one.
And the two lottery games have identical territories: the same 43 states, the District of Columbia and the U.S. Virgin Islands. Before last night, the Powerball jackpot stood at $81 million vs. $257 million for Mega Millions through Tuesday, then vs. $291 million for Mega Millions on Wednesday. The new Mega Millions cash payout of $157 million was nearly double Powerballâs annuity, payable in 30 yearly installments. And yet Powerball sold enough $2 tickets to nearly double its minimum $10 million increase and land at $100 million for the annuity, $56.1 million for the cash.