Mega Millions $1.13bn jackpot still unclaimed

News that a record Mega Millions jackpot had dropped on Tuesday, March 26, travelled around the country in hours. Yet, for all the hype about the $1.13bn jackpot, the fallout has been somewhat anti-climactic.

Mega Millions fifth-biggest jackpot goes unclaimed for now

The person or people who have the ticket have not stepped forward to claim the jackpot just yet, and this has prompted the New Jersey Lottery to release a statement on Monday, July 8, reminding the parties behind the win to consider contacting the lottery.

In case the jackpot is not claimed, the prize will simply be dissolved and the money will be allocated back to all participating state lotteries which can then redistribute the money based on their local laws. The $1.13bn is the fifth largest in the history of the United States, and it will certainly be the biggest prize not to have been claimed if this comes to pass.

The New Jersey Lottery has also offered advise on how to handle the ticket, given its value. In the release, the lottery said: "New Jersey Lottery recommends that the winner sign the ticket, make copies of it, contact professional legal and financial advisors, and call us at 1-800-222-0996 to file the claim."

Of course, the player (or players) has until March 26, 2025, to pick the prize, but one cannot help but wonder how busy a person must be to defer scooping up a $1.13bn reward. The player or people owning the ticket do not need to necessarily make a public appearance, as indeed many would rather not, and this is just as well as the New Jersey Lottery allows players to stay anonymous.

As to the way the jackpot could be claimed, there are two options – one is to opt for the 30-year annuity, which will offer increasing amounts of payments over the decades, starting at $16m in the first year, and topping $69m in the 30th year.

Yet, the person can also choose to take the lump sum, which is surprisingly what most people do, not fearing having too much money on their hands to manage all at once. However, if the winner is to claim the money in bulk, they would have to foot a rather steep tax bill.

Winner missing – who will claim more than a billion dollars?

All in all, the jackpot winner is still looked for. It’s not unusual for people who have won life-altering amounts to bid their time and get familiarized with the paperwork, or understand the dynamics of money management before they scoop up the reward.

Of course, it’s also possible for the person or people behind the win to have simply misplaced or never been aware of their win. This is why the lottery always publishes the winning numbers: 7, 11, 22, 29, and 38, with a Mega Ball number of 4.

In the meantime, the ShopRite Wine & Spirits on Route 66 in Neptune which sold the ticket won a $30,000 bonus off the sale. Yet, the establishment decided to donate its bonus to the Fulfill Food Bank, which offers support to residents of the Ocean and Monmouth counties.

Image credit: Flickr (@Wendy)