Georgia Ticket Wins $980 Million Mega Millions Jackpot

A single ticket sold in Georgia has won the $980 million Mega Millions jackpot, marking the eighth-largest prize in the game's history. The winning numbers drawn on Friday were 1, 8, 11, 12, 57, and the gold Mega Ball 7.

The winner has the option to receive the prize as a lump sum of $452.2 million or as an annuity paid over 30 years. Opting for the lump sum would result in a mandatory federal withholding of 24%, reducing the amount to approximately $343.7 million. Given the top federal income tax rate of 37%, the winner could owe additional federal taxes, further decreasing the net amount.

Georgia imposes a state income tax rate of 5.19% on lottery winnings, which would amount to just under $23.5 million on the lump sum.

The odds of winning the Mega Millions jackpot are approximately 1 in 290.5 million.

Mega Millions is played in 45 states, Washington, D.C., and the U.S. Virgin Islands, with drawings held every Tuesday and Friday at 11:00 p.m. ET.