How do I cash a MEGA MILLIONS ticket in Florida?

How do I cash out my Mega Millions ticket?

No appointments are required. Players can walk-in at their convenience and be assisted on a first-come basis. There are three ways to claim prizes $599 and under: visit a Lottery retailer, claim at a Lottery District Office or claim by mail.

Where do you cash in Florida Lottery tickets?

Prizes valued at less than $600 can be paid INSTANTLY at any Florida Lottery retailer. Click here to find a retailer near you. Prizes of $600 - $250,000 can be mailed to your nearest Florida Lottery district office. Prizes above $250,000 can be mailed to Florida Lottery Headquarters.

What happens if you win the Mega Millions in Florida?

All MEGA MILLIONS prizes are set payouts, except the jackpot. The jackpot prize will be shared among all jackpot winning plays in all MEGA MILLIONS states. The jackpot will be paid in 30 graduated annual payments or a one-time cash payment of a reduced amount.

Can you stay anonymous after winning Mega Millions in Florida?

Winners in Florida can't remain anonymous either. Those who win $250,000 or more are temporarily exempt from public disclosure for 90 days after claiming their prize, according to the state's lottery.

Learn How To Play Mega Millions

What is the first thing you should do if you win the lottery?

What bank does Florida Lottery use?

Answer: Wells Fargo Bank, National Association d/b/a Wells Fargo Bank, N.A.

What time can I cash my lottery ticket in Florida?

11 minutes prior to the drawing, 1:19 p.m. and 9:34 p.m. Twice Daily, 1:30 p.m. and 9:45 p.m.

How long do I have to claim Mega Millions in Florida?

MEGA MILLIONS prizes must be claimed within 180 days after the winning drawing date.

How long does it take to cash out Mega Millions?

When you win a Powerball or Mega Millions jackpot, there is a 15-day waiting period between the draw date and when the jackpot will be paid out, as money from ticket sales needs to be collected in order to pay out the jackpot.

Can you get a cash payout on Mega Millions?

Mega Millions and other lotteries generally allow a winner to decide how they want to take possession of the jackpot — either by choosing an annuity where the jackpot is paid out over 30 years or by taking the money in one lump sum.

Should you take cash payout for Mega Millions?

According to lottery officials, most winners opt for the lump sum, or “cash option,” as Mega Millions calls the payout. In the case of the next Mega Millions jackpot of $1.35 billion, that amount would be $707.9 million. It's a staggering pile of money, but it's not exactly what you would pocket following your win.

Can you cash in a Florida Mega Millions ticket another state?

If I purchase a Mega Millions ticket in one state, can I redeem it in another? Because Mega Millions® is sold by individual lotteries, any winning tickets must be redeemed in the state in which they were purchased.

Can Florida Lottery winnings be direct deposited?

Winners can elect to receive their prize via an ACH transfer directly to their bank account, or via check. However, most winners claiming prizes greater than $10,000 choose the security and speed of a wire transfer, providing immediate use of funds once transferred.

What happens if you get the Mega Ball number only?

What happens if you match the Mega Ball only? If you match only the Mega Ball (and don't match any of the 5 regular numbers), you win a $2 prize and break even on the $2 cost of your Mega Millions ticket.

Are lottery tickets cash only in Florida?

There are laws that specifically prohibit merchants from accepting credit cards for these purchases. For example, Florida lottery machines are separate from the cash register and have no way to accept credit cards at all.

Can you cash a Florida Lottery ticket in another state?

You can only cash a lottery ticket in the jurisdiction/state in which it was purchased. This includes multi-state lottery tickets such as the Powerball and the Mega Millions. Multi-state lottery tickets are actually sold by the individual state lottery commision for the state in which you buy it.

Does Florida tax lottery winnings?

California, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming do not have lottery winnings withheld. This means that only federal tax rates would apply to winnings in these states. Of states that do withhold tax winnings, North Dakota is the lowest at 2.9%.

Does lottery money go straight to your bank account?

Weekly installment winners will receive 52 payments each year and monthly winners get a payment at the same time each month. Payments can be mailed directly to your home address or to your financial institution at your request.

What bank should I use if I win the lottery?

Technically, any bank can take and receive your lottery winnings because there is no limit on how much money you can deposit. However, it might be a good idea to choose a private bank to handle this cash sum.

How do you give money to family after winning the lottery?

You can physically take cash out of the bank to give to your loved ones, or you can transfer funds into their accounts. Just know that these can also be subject to taxation depending on the amount. This allows your family or friends to do what they please with the money to fund personal expenses.

What should you not do after winning the lottery?

Why do lottery winners have to go public?

"State and provincial lawmakers want the public to know that the lottery is honestly run and so require that at a minimum the name of the winner and their city of residence be made public," its website states. "This way the public can be reassured that the prize really was paid out to a real person."

Which states allow you to remain anonymous if you win the lottery?

Delaware. State law in Delaware allows winners to remain anonymous, according to the Delaware Lottery Games.

How much is Mega Millions after taxes in Florida?

Yearly payment option in Florida

With the 24% federal taxes and 13% taxes due when you pay your taxes each year, you would pay about $13.5 million in taxes. This leaves your total net income each year from the winnings to be, on average, $23.1 million.