Jackpot! Mega Millions player wins $1.58 billion in Florida

In a stunning win that has captivated US, someone has secured the incredible $1.58 billion Mega Millions jackpot. If confirmed, this historic prize will stand as the largest ever in Mega Millions history, surpassing the previous record of $1.537 billion in South Carolina in 2018.

The winning combination, 13, 19, 20, 32, and 33, along with the Mega Ball number 14, was selected on Tuesday night, marking a life-changing moment for the fortunate ticket holder. The ticket was sold in Florida.

This substantial victory is now presented with a choice: the winner can opt for an annual payout spread over 29 years or receive an estimated lump sum of $783 million (before taxes). However, it's important to note that the highest tax brackets, ranging from 35 to 37 per cent, will apply to this significant windfall, as per the IRS regulations for lottery winnings.

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Before this win, the Mega Millions jackpot had not been won in 31 consecutive draws. On April 18, the most recent grand prize was drawn for a $20 million pot, according to Mega Millions.

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While the previous record was set at $1.537 billion, achieved in October 2018, the Mega Millions game has once again proven its ability to create life-changing moments for fortunate players. It's important to remember that the largest lottery jackpot in recent memory was the $2.04 billion Powerball win in California in November of the previous year.

Mega Millions underwent strategic changes in 2017, including an increase in the starting jackpot from $15 million to $40 million, a ticket price adjustment from $1 to $2, and slightly adjusted odds for winning the top prize. These adjustments were made with the aim of enhancing the overall player experience.

As this fortunate Florida resident steps into an entirely new realm of financial prosperity, their win adds to the legacy of Mega Millions, demonstrating once again the power of the lottery to change lives in an instant.