$980 Million Mega Millions Jackpot won

American Wins $980 Million Mega Millions Jackpot – But Keeps Only About 27% After Taxes

An incredibly lucky player from Georgia hit the massive $980 million Mega Millions jackpot on Friday, November 14, 2025 – the eighth-largest prize in the lottery’s history! While the headline number sounds life-changing, the reality of U.S. lottery taxes means the winner will walk away with far less than a billion dollars.

This jackpot rolled over for 40 consecutive draws, the longest streak since a $348 million win back in June. The winning numbers were: 1 – 8 – 11 – 12 – 57 + Mega Ball 7.

The lucky ticket was purchased in Georgia, where winners of $250,000 or more can legally remain anonymous if they request it in writing – so we may never know who the new multi-millionaire is.

How Much Does the Winner Actually Keep in Canada vs. USA?

In the United States, lottery winnings are heavily taxed at both federal and (sometimes) state levels. The Georgia winner had two payout choices:

Annuity option – The full advertised $980 million paid out over 30 years (with annual payments increasing by 5% each year).
Cash option – A lump-sum payment of $452.2 million before taxes (the choice almost every big winner makes).

After mandatory federal withholding and additional taxes, the net take-home amount on the cash option is approximately $261.4 million USD (around C$365 million at current exchange rates). That’s roughly 27% of the advertised jackpot.

For Canadian players wondering how this compares: If a Canadian wins a U.S. jackpot like Mega Millions or Powerball, Canada does NOT tax lottery winnings, but you still pay the full U.S. federal taxes (up to 39.6% for non-residents) plus any state tax. So a Canadian cashing the same $452.2 million lump sum would keep slightly less than an American resident due to higher withholding rates on non-U.S. citizens. Read more about taxes on winnings in Canada

Why Do So Many Canadians Play U.S. Lotteries?

When jackpots climb toward a billion dollars, millions of Canadians cross the border or play online (where allowed) because the prizes dwarf anything available at home. Even after U.S. taxes, a $200–300 million USD net payout is still the kind of money that can change generations.

Quick Facts About This Historic Win

• 8th-largest Mega Millions jackpot ever
• Odds of winning: 1 in 290,472,336 (you’re more likely to be struck by lightning)
• The store that sold the ticket gets a $50,000 USD bonus
• Record Mega Millions jackpots top $1.6 billion – this one came scarily close!

While $261 million (or ~C$365 million) is still an obscene amount of money, it’s a stark reminder that those “billion-dollar jackpot” headlines come with a massive tax bite in the U.S.

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