CINCINNATI- It’s been a while since Illinois has had a Mega Millions winner with their $1.34 billion jackpot. However, the 2nd largest jackpot in the last 20 years went unclaimed too, after nobody came forward for the recent $670 million winning ticket.
It is a bit confusing to know how long you have for claiming prizes. You can check out the Mega Millions website for more info, but it usually ranges from 90 days to one year from the draw date.
Illinois lottery states that winners may have up to a year to come forward. However, those who win over $250,000 can choose whether or not they want their name publicly revealed, so we might not know the winner’s identity before he or she becomes a billionaire.
With only two weeks left to decide how they want to claim their prize, the winner of this lottery will now have a choice between taking the multimillion dollar cash winnings all at once or in annual payments for the rest of their life. The winning numbers were drawn on July 29, so now they only have 32 days left to make that final decision.
Prize-linked savings plans allow you to secure a new vehicle, get a prepaid debit card, enjoy a shopping spree, or choose any variety of items with the funds. Interest rates are normally pretty good then as well, which helps essentially double your money. This also works great for people who are having trouble making saving up their New Year’s resolutions.
What would happen if no one won the Mega Millions jackpot?
If a jackpot prize goes unclaimed, then the all states in the Mega Millions game will get their money back- that’s right, 100%!
Most states use the money from unclaimed prizes for different purposes, but unclaimed lottery prizes tend to stay in a state’s lottery fund.
Roughly 25% of every dollar spent on lottery tickets in Illinois directly contributed to funding public school education. In the past year, $731 million was raised through tickets purchased by the public.
What would happen if you lost a winning lottery ticket?
Mega Millions is not responsible for lost or stolen tickets. It is advised that winners sign the back of the tickets.
How many unclaimed prizewinners are enterring their name into the draw on a monthly basis?
So far, out of all the recorded lottery jackpots in history, there have only been three that time has forgotten. Take a look at these unclaimed Mega Millions prizes:
In 2006, a $31 million jackpot was not claimed in Queens, New York
“April 25, 2003: A $46 million jackpot went unclaimed in Brooklyn, New York”
Dec. 24,2002: No prizes were awarded in New York. The city was not specified
4 thoughts on “No one has claimed the $1.34 billion Mega Millions jackpot. What if it goes unclaimed?”
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