One lucky lottery ticket-buyer in Illinois may soon be a billionaire, following Friday night's $1.337 billion Mega Millions lottery drawing.
The jackpot ranks as the third-highest lottery prize in American history, and its winner — who likely paid around $2 for the ticket — stands to either gain $780.5 million as a cash lump sum or receive payments in an annuity over the next 30 years.
If the winner chooses the more popular lump sum option, which "Shark Tank" investor Kevin O'Leary recommends, he or she will have to account for a mandatory 24% federal tax withholding.