New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle T - New York State Gaming Commission › Chapter III - Division of Lottery › Subchapter A - State Lottery › Part 5007 - Multi-Jurisdictional Lottery Games › Section 5007.7 - Prize structure

Current through Register Vol. 46, No. 28, July 10, 2024
(a) For the
					 Mega Millions game the prize structure shall; be a matrix of 5/70 and 1/25 with
					 an approximately 49.8 percent anticipated prize fund.
Match Field 1
Match Field 2
Odds
								1 in
Prize
% of Sales
Level
5
1
302,575,350
Jackpot
37.6%
1
5
0
12,607,306
$1,000,000
4.0%
2
4
1
931,001
$10,000
0.5%
3
4
0
38,792
$500
0.6%
4
3
1
14,547
$200
0.7%
5
3
0
606
$10
0.8%
6
2
1
693
$10
0.7%
7
1
1
89
$4
2.2%
8
0
1
37
$2
2.7%
9
Total
24.0
49.8%
(b) Jackpot prize payments. For the Mega
					 Millions game:
(1) The prize money allocated
					 from the winning pool for the jackpot prize, plus any money brought forward
					 from a previous drawing plus any money added from the prize reserve fund or any
					 other available source pursuant to a first prize amount announcement will be
					 divided equally among all jackpot prize winners in all participating lottery
					 states. Prior to each drawing, the annuitized Mega Millions jackpot prize
					 amount will be advertised.
(2) If
					 in any Mega Millions drawing there are no Mega Millions panels that qualify for
					 the jackpot prize category, the portion of the prize fund allocated to such
					 jackpot prize category shall remain in the jackpot prize category and be added
					 to the amount allocated for the jackpot prize category in the next consecutive
					 Mega Millions drawing.
(3) If there
					 are multiple winners of the annuitized Mega Millions jackpot prize from among
					 all participating state lotteries, and if the annuitized amount of prize being
					 awarded to each winner equals or exceeds $1 million, then the winner(s) in New
					 York will be paid in accordance with their selection of lump sum or annuity. If
					 there are multiple winners of the annuitized Mega Millions jackpot prize from
					 among all participating state lotteries, and if the annuitized amount of the
					 prize being awarded to each winner is less than $1 million, then the winner(s)
					 in New York will be paid in a lump sum amount.
(4) Purchasers in New York must select either
					 an annuity jack pot prize or lump sum jackpot prize. A jackpot prize shall be
					 paid, at the election of a player made no later than 60 days after the player
					 becomes entitled to the prize, with either an annuity or lump sum payment. If
					 the payment election is not made by a player within 60 days after the player
					 becomes entitled to the prize, then the prize shall be paid as an annuity
					 prize. An election to take a lump sum payment may be made at the time of the
					 prize claim or within 60 days after the player becomes entitled to the prize.
					 An election made after the winner becomes entitled to the prize is final and
					 cannot be revoked, withdrawn or otherwise changed without the approval of the
					 commission.
(i) Annuity option jackpot prizes
					 shall be paid through a 30-year graduated annuity (five percent escalation per
					 payment) in 30 consecutive annual installments. The initial payment shall be
					 paid upon completion of internal validation procedures. The subsequent 29
					 payments shall be paid annually to coincide with the month of the Federal
					 auction date at which the bonds were purchased to fund the annuity. All such
					 payments shall be made within seven days of the anniversary of the annual
					 auction date.
(ii) Lump sum option
					 jackpot prizes shall be paid in a single payment upon completion of internal
					 validation procedures. The lump sum option amount offered shall be the amount
					 determined by multiplying the annuitized prize amount by a discount value set
					 by Mega Millions finance committee prior to each drawing (the lump sum
					 equivalent jackpot prize), divided by the number of total jackpot prize winners
					 for the Mega Millions game.