The Illinois winner of July’s Mega Millions $1.34 billion lottery drawing has fewer than 10 days to decide whether they would like to be paid annually or all at once
Waiting to claim a lottery fortune is common — most legal and financial experts advise getting your ducks in a row before stepping forward.
But the deadline for the July 29 winner’s decision is rapidly approaching. According to the Illinois Lottery’s Winner’s Handbook,
According to NBC Chicago, the winner would be paid annually over 29 years. If they opt for a one-time cash payout, that would be about $780.5 million.
If you are a winner who receives annuity payments, you receive the interest earned on the bonds purchased by the Lottery for the payment of the prize up [to] the prize amount,”
The winning ticket was sold at a gas station in Des Plaines, a suburb of Chicago. It was the second-largest jackpot in Mega Millions’ history