a single ticket holder from New Jersey won the $ 1.13 billion Mega Millions jackpot the biggest lottery priz of the year so far although they will take home a significantly smaller amount after paying their taxes Mega Millions said the ticket sold in New Jersey was the only one to match all six numbers drawn on Tuesday night 7 11 22 29 and 38 and the gold Mega Ball Four the winner will now get to pick between receiving the $1.13 billion payout spread across 30 annual payments in 29 years or a lump sum cash prize of $37.5 million usually the popular pick among winners the cash prize will drop to $48.5 million after a mandatory Federal tax withholding of 24% is deducted depending on their taxable income the winner will then face a federal marginal rate as high as 37% which would further slash their winnings to $38.64 million if the winner chooses the installment route their annual payments of $ 37.6 million would drop to $23.7 million if the 37% Federal marginal rate is applied New Jersey also withholds 8% of all lottery winnings above $500,000 the lucky ticket holder had to overcome abysmal odds of one in 32.6 million to win the Mega Millions jackpot these odds are even worse than the Powerball jackpots already terrible odds of 1 in 22.2 million the biggest Mega Million jackpot in history was $1.62 billion won in August last year by a ticket holder from Florida Tuesday's prize of 1.13 billion is the fifth largest in the game's history and its sixth billion plus dollar prize for more on this story check out CAD 's article in the link in the description [Music]