Mega Millions jackpot hits record $476 million

[Red Hook]

1/2 a billion..damn..some one is going to have great weekend.


"Mega Millions jackpot hits record $476 million

The jackpot in Friday's Mega Millions lottery drawing has risen to $476 million, the largest in the game's history, after Tuesday night's drawing produced no winning ticket.

Tuesday's numbers were 9, 19, 34, 44 and 51 with a Mega Ball of 24.

The game's previous biggest jackpot was $390 million in the March 6, 2007, drawing. That jackpot was split by winners in Georgia and New Jersey.

On January 4, 2011, a $380 million jackpot was also split by two winners, one in Idaho and one in Washington.

Four winning tickets split a $336 million jackpot on August 28, 2007.

A little more than a year ago, seven state workers in New York bought a ticket that earned them a $319 million jackpot.

The biggest single-ticket win in the other nationwide lottery, the Powerball, was in February 2006 when a ticket held by eight workers at a Nebraska food plant paid a $365 million jackpot.

Mega Millions is played in 42 states plus the District of Columbia and the Virgin Islands"

[Stark]

remind me again how much the US government takes if somebody wins the whole lot?

[JasonH]

Isn't there an option to receive annual payments instead of one big lump sum?

[Stark]

Isn't there an option to receive annual payments instead of one big lump sum?

of course there is - they would be stupid if they don't offer that - given that the chances that the person who won it will die some time they might not even have to pay the full sum

[Red Hook]

remind me again how much the US government takes if somebody wins the whole lot?

50-60%

Isn't there an option to receive annual payments instead of one big lump sum?

yes, either way you cannot go wrong with numbers that large

[The_Punisher]

whoever would win $476 million, you'll see $175 millon of it, just imagine how much the state is keeping....it's ridiculous.....hahahahah ha.......some 8 yrs ago, some dude in west virginia hit $315 million all by himself. he took a lump sum and he only got $110 million........anyway you look at it, you're still a millionaire. it's not like you've earn it......

[Euro-monster]

If you have the winning lot do you get to keep the whole ammount or do you get monthly payments the rest of your living life?

[liberty]

Brutal Odds


Match    +    Megaball    Probability    Top Prize
5    +    1    1 in 175,711,536    JACKPOT
5          1 in 3,904,701    $250,000**
4    +    1    1 in 689,065    $10,000**
4          1 in 15,313    $150**
3    +    1    1 in 13,781    $150**
2    +    1    1 in 844    $10
3          1 in 306    $7
1    +    1    1 in 141    $3
0    +    1    1 in 75    $2

[liberty]

Can see all the odds of the various games here...just click on the game and scroll down
http://www.masslottery.com

[JasonH]

Brutal Odds


Match    +    Megaball    Probability    Top Prize
5    +    1    1 in 175,711,536    JACKPOT
5          1 in 3,904,701    $250,000**
4    +    1    1 in 689,065    $10,000**
4          1 in 15,313    $150**
3    +    1    1 in 13,781    $150**
2    +    1    1 in 844    $10
3          1 in 306    $7
1    +    1    1 in 141    $3
0    +    1    1 in 75    $2

Haha, awesome negative expected value. Bet there's not a single expert on probablility mathematics that plays the lottery.

[liberty]

Mega Millions will be a half billion by friday 
I'll spend 10 bucks.

[240 is Back]

I bet his wife magically remembers how to give blowjobs again.

[BigCyp]

I bet his wife magically remembers how to give blowjobs again.

Hahahahaha

[Rearden Metal]

of course there is - they would be stupid if they don't offer that - given that the chances that the person who won it will die some time they might not even have to pay the full sum

They pay to his/her descendants. How do I know? I''m one of them.

[Rearden Metal]

You can take annual payments. Depending on the amount of the win, the taxes can be as low as 25% to as high as 60% (when taking lump sum) in the U.S. Of course, many winners have no idea how to manage their money and end up getting taxed multiple times coming and going.

[El Diablo Blanco]

The way it works is the $467 million is the value of X dollars invested in an annuity starting today for the next 20 years.  That's why the lump sum will be in the $300 million range, minus about 30% taxes you'd end up with $200 million+ clean and clear.

Your other option is about $24 million a year for 20 years.  It IS transferable and can be left in a will if you die.  A lot of companies come after people that take the payments and offer them 30 cents on the dollar for the rest of the money and transfer it in their name.

Either way, the odds of winning are 1 in 175,000,000

You have a better chance of becoming president of the USA, while getting eaten by a great white and getting struck by lightning and marrying a victoria's secret model all at the same time.

[CAPTAIN INSANO]

The way it works is the $467 million is the value of X dollars invested in an annuity starting today for the next 20 years.  That's why the lump sum will be in the $300 million range, minus about 30% taxes you'd end up with $200 million+ clean and clear.

Your other option is about $24 million a year for 20 years.  It IS transferable and can be left in a will if you die.  A lot of companies come after people that take the payments and offer them 30 cents on the dollar for the rest of the money and transfer it in their name.

Either way, the odds of winning are 1 in 175,000,000

You have a better chance of becoming president of the USA, while getting eaten by a great white and getting struck by lightning and marrying a victoria's secret model all at the same time.

We are getbiggers though 

[SilverSpoon]

Who cares?

The risk/reward assessement that goes into a buying a fucking lottery ticket that will change generations of your family should not take this many comments.

But a ticket, or ten, and look at like a donation.

If you win, you were pretty smart.  You can't win if you don't play.

As bodybuilders, we most certainly have wasted much more money on useless supplements.

As men, we more than likely bought some awful girl a drink that costs waaaay more than the cost of one lottery ticket.

[El Diablo Blanco]

The attention you would be from winning $467 million would be enough to make an average person lose it.  You would have to go into hiding and your name forever will be plastered as the winner of the largest lottery ever.  Good luck travelling and being anonymous or moving into a rich area and blending in without everyone knowing you as the lotto winner.

I would rather win a $20 million jackpot and not be known than to win the $467 and be shown everyone.  You can't put a price on privacy.

[Kegdrainer]

1/29,411,765 is the odds you will die in the 2 mile round trip drive to the store to get your lotto ticket in a car accident.  Odds of winning the lotto is 1/175,711,536.  

You are 6 times as likely to die on your way to the store.  

More math to think about...  If you had a billion dollars already and a clever tax accountant that could shelter your winnings from the government, you could buy every combination of numbers for $175,711,536 and guarantee a win.  That leaves you with about 300 million in profits as long as you were the only winner and didn't have to split the jackpot with anyone.

[SilverSpoon]

Folks really put that much analysis into spending a dollar on a lottery ticket?

You guys must be awesome to have a couple of beers with.

Christ on a crutch!!!!

[El Diablo Blanco]

1/29,411,765 is the odds you will die in the 2 mile round trip drive to the store to get your lotto ticket in a car accident.  Odds of winning the lotto is 1/175,711,536.  

You are 6 times as likely to die on your way to the store.  

More math to think about...  If you had a billion dollars already and a clever tax accountant that could shelter your winnings from the government, you could buy every combination of numbers for $175,711,536 and guarantee a win.  That leaves you with about 300 million in profits as long as you were the only winner and didn't have to split the jackpot with anyone.

I read a story about a Mass lotto.  The payout of that lotto is in the hundreds of thousands for secondary prizes, but some MIT geek figured out that spending about $100,000 on a certain combo of numbers almost guaranteed a payout, there is the odd chance you lose but the odds of winning were greater.  So the lotto set cap limits on tickets purchased from stores so that they can't buy all of the tickets they wanted.  This happens a few times a year.

Read the story

http://articles.boston.com/2011-07-31/news/29836200_1_lottery-tickets-claim-prizes-massachusetts-state-lottery

[Irongrip400]

Who cares?

The risk/reward assessement that goes into a buying a fucking lottery ticket that will change generations of your family should not take this many comments.

But a ticket, or ten, and look at like a donation.

If you win, you were pretty smart.  You can't win if you don't play.

As bodybuilders, we most certainly have wasted much more money on useless supplements.

As men, we more than likely bought some awful girl a drink that costs waaaay more than the cost of one lottery ticket.

This. I will play this week. I usually buy a few tickets when it hits the two hundred million range. Shit, I'd be happy with the ten grand for five numbers. I'd take another trip to Europe.

[Soul Crusher]

I bought 2 last night.   Glad no one one.   Gives me another chance.   

[225for70]

My cousin won the cash lotto...He made out with 100K or some figure close to it...However, he has since gambled away all the money five times over..


I have spent a total of 5 dollars on the lotto in the last 5 years..