I just checked the winning numbers for the Mega Millions drawing on February 17th, and honestly, these prizes they offer are quite tempting. That Tuesday, the winning numbers were 3, 37, 44, 52, 63, and the gold ball 14. The jackpot was nearly $400 million, although in cash it was about $183 million.

What’s interesting is that many people don’t even know how this really works. Basically, you have to match five numbers from 1 to 70 plus the Mega Ball from 1 to 25. If you get all six winning numbers, you are the main winner, but if there are multiple winners, the prize is split. There are nine different prize tiers in total, so you don’t necessarily have to match everything to win something.

What few consider is where they buy the ticket. For example, if you live in Wyoming, Washington, Texas, or Florida and you win with the correct winning numbers, you don’t pay state tax. But if you’re in New York, they can take up to 10.8%, which is a huge chunk. In Maryland, it’s 9.5%, in New Jersey 8%... the difference is huge.

Another thing not everyone knows: prizes can be claimed in two ways. There’s the option of 30 annual payments where each is 5% more than the previous one, or a lump sum in cash (which is less, but you get it immediately). And you have up to a year to claim it, so there’s no rush.

Historically, the biggest prize was in August 2023 with $1.6 billion. Crazy, right? Although, the odds of winning are practically impossible, but someone has to win.