Florida’s $800 million Mega Millions winner comes forward

The winner of the $800 million Mega Millions jackpot has come forward and taken the cash option of $344.2 million. According to updated Florida Lottery records, the winner is listed in Bradenton and is temporarily exempt from disclosure under F.S. 24.1051.

The Quick Pick ticket was sold at Wawa No. 5185 at 14510 State Road 70 E. in Bradenton, east of Lakewood Ranch. We covered the ticket being sold in July. The winning numbers were 34, 48, 49, 59 and 70 with a Mega Ball of 12, drawn on July 28.

It was the only ticket in the country to match all six. Two others matched the five white balls for $1 million each. The jackpot had rolled 37 times since the last win on March 17, and this was the 38th draw of that run.

An $800 million jackpot is rare even by Mega Millions standards

Our draw records hold 231 Mega Millions jackpot hits, and only 10 of them were won at $800 million or more. The odds of matching all six are 1 in 290,472,336.

This is the largest lottery prize won in Florida since the $1.602 billion Mega Millions jackpot on August 8, 2023. That remains the largest in the game's history in our data.

The 43% cash option is normal now

The $344.2 million cash option is 43.0% of the advertised $800 million. Our live jackpot data puts Mega Millions at 43.1% cash and Powerball at 43.4% as of today, so this winner took the going rate for both national games. Lump sum vs annuity covers the tradeoff between the two.

What is left after taxes

Federal withholding on lottery prizes is a flat 24%. That takes about $82.6 million and leaves a check near $261.6 million, though it is not the final bill. Nearly all of a $344.2 million prize falls in the top 37% federal bracket, so the real federal tax comes to roughly $127.3 million, after paying the extra 13% next April.

Florida is one of the states with no income tax, so there's no taxes withheld at the state level. A winner in a high-tax state would lose several percent more.

Our lottery tax calculator runs these figures for any prize in any state, and how lottery winnings are taxed explains the withholding rules.

Florida gives you 180 days to claim, but only 60 days for the cash option

Florida prizes must be claimed within 180 days of the draw. The cash option carries a much shorter clock, and a winner has 60 days from the draw date to select it. For a July 28 drawing that deadline fell in late September.

Florida also does not allow permanent anonymity. State law requires the lottery to release a winner's name and city on request, with a 90-day temporary exemption for prizes of $250,000 or more. Whether you can stay anonymous after a win varies a good deal by state.

Sources

Sarasota Herald-Tribune: Winner claims $800M Mega Millions ticket sold near Sarasota