According to a lottery lawyer, opting for the lump sum payment is "usually a tremendous error."
This is the fourth-largest jackpot in the history of Mega Millions, with a prize pool of $785 million up for grabs.
According to the opinion of one specialist, almost all winners make the "huge error" of selecting the quick lump sum payment option.
The distribution of the windfall over a longer period of time has a number of important benefits.
However, beginning the year 2023 with 785 million dollars can have some unintended consequences.
One of the very first choices a winner must make is whether or not to take the jackpot as a one-time payment or as an annuity.
This decision frequently proves to be the winner's undoing.
If you choose to accept your windfall in the form of an annuity that is paid out over the course of three decades.
This is the option that the vast majority of jackpot winners choose.