Published on: October 1, 2024, 03:20h.
Last updated on: October 1, 2024, 03:20h.
On Tuesday night, March 26, a fortunate lottery player purchased a physical Mega Millions ticket that struck gold. The prize amounted to $1.13 billion, making it the ninth-largest lottery reward in the history of the United States.
More than six months have gone by, and the ticket remains unclaimed. Despite some state lotteries giving Mega Millions winners a limited time to redeem their winnings, New Jersey allows winners a full year.
The Mega Millions Consortium, responsible for managing the popular interstate lottery game in 45 states, Washington, D.C., and the U.S. Virgin Islands, stated that most jackpots are claimed within a few weeks or months. A recent announcement from the lottery group urged the ticket holder to step forward and claim their life-altering prize.
The winner is advised to contact the New Jersey Lottery promptly to initiate the claiming process,” stated the notice from the Mega Millions Consortium.
While it is recommended for big lottery winners to seek advice from legal and financial experts to decide between a lump sum or the full jackpot paid out over 30 years, this process usually doesn’t take more than six months. As time passes, the likelihood of the winning ticket, valued at a one-time cash option of $537.5 million, being lost increases.
Deadline in Spring
Thanks to New Jersey Lottery’s policy allowing ticket redemption up to a year after the draw, the $1.13 billion Mega Millions ticket retains its value until March 2025. The deadline for the winner to claim their prize is March 26, 2025, after which the ticket will be worthless.
The winning $2 ticket was purchased at the ShopRite grocery and liquor store in Neptune, just west of Asbury Park. The winning numbers were 7, 11, 22, 29, 38, and the Mega Ball was 4.
In addition to choosing between the annuity or cash option, the winner must also decide whether to maintain anonymity, a choice allowed by a bill passed by New Jersey lawmakers in 2020, or to go public. The one-time cash option of $537.5 million would be subject to a federal tax of 37% and a state tax of 10.75%.
New Jersey’s tax on lottery winnings is one of the highest in the nation, second only to New York’s 10.9% rate.
Protection for Online Lottery Players
The redemption windows for Mega Millions vary among participating states.
Oregon offers winners just 60 days, while Iowa, New Mexico, and South Carolina only give winners 90 days. Most jurisdictions, including 27 states, D.C., and the Virgin Islands, provide winners with six months to claim their prize.
New Jersey is one of 13 states that allows a year for ticket redemption. The other states include Delaware, Illinois, Kansas, Maine, Massachusetts, Michigan, Minnesota, New Hampshire, New York, Pennsylvania, Rhode Island, and Vermont.
Only nine states currently allow online ticket sales for Mega Millions and Powerball. Although New Jersey is not among them, the state permits online lottery couriers like Jackpocket to buy physical tickets on behalf of residents in the state.
Digital lottery purchases eliminate the risk of losing, theft, or accidental damage to tickets. When a winning ticket is sold online, it remains secure, and the winner will be contacted by their courier or the state lottery for the redemption process.