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What is the cash payout for Jumbo Bucks lotto?

The Jumbo Bucks lotto is a popular lottery game in many states across the United States. Players choose 5 numbers from 1-70, and then 1 Mega Ball number from 1-25. If a player matches all 6 numbers drawn, they win the jackpot prize. The jackpot starts at $1 million and continues to grow as more people play and the jackpot rolls over. In addition to the jackpot, there are 8 other prize levels paying from $2 for matching just the Mega Ball up to $5,000 for matching 5 numbers without the Mega Ball. The overall odds of winning any prize are about 1 in 24. This article will provide details on the specific cash payouts for each prize level in the Jumbo Bucks lotto game.

Jackpot Prize Payout

The biggest prize in Jumbo Bucks is the jackpot for matching all 6 numbers. The advertised jackpot is an annuity prize paid out over 29 years. However, nearly all jackpot winners choose to take the cash option which is a one-time, lump-sum payment equal to the jackpot prize pool. The cash value is estimated to be about 60% of the advertised jackpot amount.

For example, if the annuity jackpot is advertised as $10 million, the estimated cash payout would be around $6 million before taxes. The actual cash amount changes based on ticket sales and interest rates. Jackpot winners can take the cash payout as a lump sum or as an annuity paid out over 29 years. But the vast majority opt for the immediate cash.

Jackpot Cash Payout Examples

Advertised Jackpot Estimated Cash Payout
$1 million $600,000
$10 million $6 million
$100 million $60 million

As shown, the estimated cash value typically ends up being 60-70% of the advertised jackpot amount based on the particular drawing and interest rates. Jackpot winners will owe federal and possibly state taxes on their winnings which will further reduce the final cash amount.

Lower Tier Prize Payouts

While the jackpot generates the most interest, there are also seven lower tier prizes in Jumbo Bucks:

  • Match 5 numbers only – $5,000
  • Match 4 numbers + Mega Ball – $500
  • Match 4 numbers only – $100
  • Match 3 numbers + Mega Ball – $40
  • Match 3 numbers only – $10
  • Match 2 numbers + Mega Ball – $4
  • Match 1 number + Mega Ball – $2

The payouts for these prizes are fixed amounts and do not vary based on ticket sales or interest rates. Players must match the numbers drawn in exact order to win a prize. The overall odds of winning any Jumbo Bucks prize are around 1 in 24. The Match 5 prize is the second biggest prize in the game and has odds of 1 in 1.2 million.

Prize Payout Examples

Prize Level Odds of Winning Payout
Match 5 Only 1 in 1.2 million $5,000
Match 4 + MB 1 in 18,000 $500
Match 4 Only 1 in 1,200 $100
Match 3 + MB 1 in 270 $40
Match 3 Only 1 in 50 $10
Match 2 + MB 1 in 18 $4
Match 1 + MB 1 in 7 $2

These fixed payouts give players at all prize levels the opportunity to win a cash prize. Lower tier prizes account for most of the wins in a typical Jumbo Bucks drawing.

Factors That Impact Cash Payouts

Several factors impact the actual cash payout for Jumbo Bucks prizes:

Jackpot Size

The size of the jackpot directly impacts the cash payout. Larger jackpots have bigger cash options. A $100 million jackpot will have a larger cash value than a $10 million jackpot. But the estimated 60% cash conversion rate stays relatively stable regardless of jackpot size.

Ticket Sales

Higher ticket sales mean more money in the prize pool. Strong sales for a particular drawing can boost the cash payouts, especially for the jackpot prize.

Number of Winners

If there are multiple jackpot winners for a drawing, the cash prize is split evenly amongst all winners. So two winners would get half the cash amount each compared to if there was just one winner.

Interest Rates

Cash payouts are based on current interest rates. Higher interest rates produce larger cash payouts. This impacts the conversion from annuity to cash amounts.

State/Federal Taxes

Income taxes can take a big bite out of lottery winnings. Jackpot winners pay federal taxes of 24-37% in addition to any state taxes. So both federal and in-state taxes impact final cash amounts.

Claiming Prizes

To collect a Jumbo Bucks prize, winners must follow these steps:

  1. Sign the back of the winning ticket.
  2. Complete a claim form at a lottery office to verify your win.
  3. Submit to a financial background check and tax forms for tax reporting.
  4. Decide on cash or annuity for jackpot prizes.
  5. Determine any withholdings for tax purposes.
  6. Collect your prize! Cash prizes under $600 can often be collected immediately at authorized lottery retailers.

Winners get anywhere from 60-90 days to complete the claim process depending on the prize amount and jurisdiction. It is important to sign tickets immediately and keep them secure until ready to claim. Prizes expire 1 year from the drawing date in most states if unclaimed.

Jumbo Bucks Lotto History

The Jumbo Bucks lottery began in 1998 as the sixth and latest multi-state lotto game. It is coordinated by the Multi-State Lottery Association (MUSL) which also administers games like Powerball and Mega Millions. Jumbo Bucks is available in the following 18 states:

  • Idaho
  • Hawaii
  • Maine
  • Montana
  • New Mexico
  • North Dakota
  • South Dakota
  • Vermont
  • Iowa
  • Kansas
  • Minnesota
  • Nebraska
  • New Hampshire
  • Rhode Island
  • Washington
  • Wisconsin
  • Delaware
  • North Carolina

Drawings are held every Wednesday and Saturday at 11:00 PM Eastern Time. Players can buy tickets until 10:45 PM on the night of the drawing. Tickets cost $1 per play. Jackpots start at $1 million and grow based on rollovers. The record jackpot so far was $508 million in March 2019.

Over 23 years, Jumbo Bucks has awarded over $21 billion in prizes. It consistently generates a few 100 millionaires each year while giving millions of other players the chance to win smaller prizes. Jumbo Bucks lotto offers big jackpots with strong overall odds for just $1 per play.

Playing Strategies

While the numbers are drawn randomly, many people use certain strategies or systems when playing Jumbo Bucks:

Quick Pick

Having the computer randomly select your numbers. This ensures totally random number choices.


Using important dates like birthdays or anniversaries as your number picks.

Lucky Numbers

Picking digits that feel “lucky” based on numerology or personal significance.

Frequency Analysis

Studying past draws to pick frequently chosen numbers.

Pool Tickets

Joining an office or lottery pool to afford more number combinations.

Balanced Selection

Picking some high numbers and some low numbers for a balanced set.

While no strategy can actually improve your overall odds, many people use a system that makes the game more fun for them. In the end, the numbers are randomly drawn regardless of the selection method.

Odds of Winning

The overall odds of winning any Jumbo Bucks prize are about 1 in 24. This includes smaller prizes as well all the way up to the jackpot. The chances vary widely based on the particular prize:

Prize Level Odds
Jackpot 1 in 302,575,350
Match 5 Only 1 in 1,221,759
Match 4 + MB 1 in 17,988
Match 4 Only 1 in 1,150
Match 3 + MB 1 in 265
Match 3 Only 1 in 49
Match 2 + MB 1 in 18
Match 1 + MB 1 in 7

As shown, easier prizes have better odds while the jackpot is incredibly elusive. But Jumbo Bucks offers strong odds for matching at least some numbers. With 8 ways to win, players have a 1 in 24 overall chance of winning something.

Tax Implications

Lottery winnings have important tax implications. Here are key things winners need to know:

  • Federal taxes of 24% are withheld on prizes above $5,000.
  • Federal taxes rise to 37% for winnings topping $500,000.
  • State taxes are added on top of federal based on residency.
  • Individual tax situation impacts final amounts due.
  • Taxes apply to prize value, not actual cash received if annuity chosen.
  • Jackpots produce top ordinary income tax rate.
  • Tax attorneys and financial planners recommended for large wins.

Taxes can take a significant portion from large lottery prizes. Proper planning is essential to minimize amounts due. Those who play should factor taxes into payout expectations.

Jumbo Bucks Lotto FAQs

Is Jumbo Bucks available in my state?

Jumbo Bucks is currently offered in the following 18 states: Idaho, Hawaii, Maine, Montana, New Mexico, North Dakota, South Dakota, Vermont, Iowa, Kansas, Minnesota, Nebraska, New Hampshire, Rhode Island, Washington, Wisconsin, Delaware, North Carolina. Be sure to check your state’s lottery website to confirm participation. Residents in other states cannot purchase tickets or claim prizes.

What are the odds of winning the Jumbo Bucks jackpot?

The overall odds are 1 in 302,575,350 of matching all 6 numbers to win the jackpot. This makes matching the jackpot extremely difficult, but the large prize makes playing worthwhile for many people.

How late can I buy tickets on the day of the drawing?

Ticket sales cut off at 10:45 PM ET on the night of the drawing. This provides a 15 minute window just before the 11:00 PM ET drawing. Be sure to buy tickets before the sales cutoff.

Can I buy tickets in advance for future drawings?

No, Jumbo Bucks does not allow advance play. Tickets can only be purchased for the next upcoming drawing based on the current jackpot amount.

What happens if there is no jackpot winner?

If no player matches all 6 numbers, the jackpot rolls over and increases for the next drawing. This allows the jackpot to grow into huge amounts over time.

What is the biggest Jumbo Bucks jackpot ever?

The record Jumbo Bucks jackpot so far is $508 million, won in March 2019. Jackpots frequently exceed $100 million and produce massive cash payouts for the lucky winners.

Where does the money for prizes come from?

Jumbo Bucks prize money comes from the accumulated funds of ticket sales. About 50-60% of sales go towards prizes. So players are actually competing for prizes funded by their own tickets.

Can I remain anonymous if I win?

Rules on winner publicity vary by state. Some states allow winners to remain anonymous, while others require full publicity. Winners should check local lottery rules on publicity.

Are lottery winnings taxed?

Yes, all lottery prizes are considered taxable income by the IRS and state. Taxes can take out 25-50% of winnings, depending on amounts and locations. Winners are responsible for all applicable taxes.


Jumbo Bucks is a multi-state lotto game offering huge jackpots along with 8 other prize levels. Players pick 5 main numbers and 1 Mega Ball for a shot at various cash amounts. The jackpot starts at $1 million and grows based on rollovers. Matching all 6 numbers wins the current jackpot amount. Lower prizes range from $2 to $5,000. Strong overall odds of 1 in 24 make Jumbo Bucks popular across participating states. Jackpot cash payouts end up 60-70% of the advertised amount based on interest rates and ticket sales. Taxes take a big bite out of large prizes. With 8 ways to win, Jumbo Bucks gives players life-changing jackpot potential for just $1 per play.