Mega Millions finally won as single player scoops $800m prize but risks losing almost half if they take particular path

A LUCKY Mega Millions player has bagged the $800 million jackpot but is now faced with a difficult decision that could see them lose half of their winnings.

The winning ticket for the Tuesday night drawing was purchased at a gas station in Texas.

The player matched all five white balls and the gold Mega Ball, according to the official Mega Millions website.

The winning numbers were 1, 2, 16, 24, and 66, and the Mega Ball was 6.

The ticket was purchased at a Murphy USA gas station in Sugar Land, about a two-and-a-half-hour drive from Austin, Texas.

This $800 million sum is the seventh-largest jackpot ever won in the game's history.

And it is the 15th Mega Millions jackpot that has been won in Texas since the state joined the game in December 2003.

Last night's jackpot winner has not yet been identified but once they come forward, they will be faced with a difficult decision.

The Texas player will have to choose whether to pocket their winnings as a lump sum or through annuity payments.

If they decide to accept their winnings as a one-off payment, the $800 million sum will be almost halved to $404.2 million.

This lucky player is only the third person this year to win the Mega Millions jackpot.

It was last won on June 4 in Illinois and the player secured a whopping $552 million.

The September 10 drawing produced over two million winning tickets across the US.

And four of these tickets each managed to secure a $1 million prize.

The next Mega Millions drawing will be held this Friday and the jackpot will be reset to $20 million.

HOW TO PLAY

Mega Millions tickets are sold in 45 states, Washington D.C., and the US Virgin Islands.

Tickets cost $2 and can be bought on the day of drawing.

The drawings are held every Tuesday and Friday at 11 pm ET.

To win the jackpot like yesterday's lucky Texas player, individuals must match all five white balls and the gold Mega Ball.

Lottery winnings: lump sum or annuity?

Players who win big on lottery tickets typically have a choice to make: lump sum or annuity?

The two payout methods can impact how much money you get from your prize.

Annuities pay out slowly in increments, often over 30 years.

Lump sums pay all at once but in a smaller amount, as taxes are withheld in one go. That means 24% of your prize goes to Uncle Sam right away. Many states tax winnings as well.

Annuities can provide winners time to set up the financial infrastructure required to take in a life-changing amount of money, but lump sums have the benefit of being taxed only once.

Inflation is also worth considering when making a choice, as payouts do not adjust with the value of a dollar. That means that you'll likely be getting less valuable money towards the end of an annuity.

Each state and game pays out prizes differently, so it’s best to check with your state’s lottery to confirm payment policies. A financial advisor can also help you weigh the pros and cons of each option.

Experts have varying opinions on whether to take the lump sum or take the annuity.

The odds of winning a Mega Millions jackpot are 1 in over 302 million.

Meanwhile, another Texas player won $1 million in the August 23 drawing but has yet to come forward and claim their winnings.

The ticket was purchased at a DK convenience store and gas station in Abilene, Texas, just over two hours west of Fort Worth.

Lottery officials have urged players in Texas to check their tickets to see if this huge sum could be theirs.

And an Ohio lottery player managed to win $2 million in the Mega Millions drawing last Friday.

The ticket was also purchased in a convenience store and the prize is still unclaimed.