Mega Thousands and thousands Jackpot Surpasses $1 Billion After No one Wins $830 Million Grand Prize
The Mega Millions jackpot has surpassed the $1 billion mark. The top prize in Friday night’s drawing will be worth an estimated $1.02 billion, lottery officials said, although that number is certain to rise as more tickets are bought as the drawing draws nearer.
The cash option on this pot of gold would be $602.5 million.
No winning tickets were sold for Tuesday night’s drawing, which had an $830 million jackpot. It would have been the fourth largest lottery prize of all time and the nation’s third largest Mega Millions prize.
The winning numbers for Tuesday night’s drawing were: 29, 63, 66, 7, 60 and a “Megaball” of 15.
“It takes a long time for this type of jackpot to grow this high, so we’re excited,” Maria Kilbane, a spokeswoman for Mega Millions, told CBS News.
In this case, 29 consecutive draws without a jackpot winner. No one has matched the game’s six numbers since April 15th.
The biggest lottery payday ever was aWon in 2016.
The rush of people to find out if there were any winners resulted in “unprecedented” traffic to the Mega Millions site, Kilbane said in a statement. Many attempts to reach the page resulted in error messages before realizing that there were no grand prize winners.
Kilbane said traffic slowed after Tuesday night’s drawing results were released, but there were 62 million attempts to reach the site over a 24-hour period.
This year has seen: a $426 million pot in California in January, a $128 million lot in New York in March, and a $110 million prize in Minnesota in April, according to Mega Millions.
The chances of winning the jackpot are vanishingly small. You have better odds of getting a smaller payout, such as B. Winning $1 million for five correct numbers but missing the Mega Ball. But even that is one in 12.6 million.
To put this in perspective, your chance of dying in a car accident — something to consider when heading to the convenience store for a lottery ticket — is about one in 101 over your lifetime, according to the nonprofit National Safety Council.
How much is the payout after taxes?
Meanwhile, even if you somehow beat the odds, you won’t get $830 million. First, this is the amount for winners who choose the annuity option paid over 30 annual payments. However, winners usually opt for cash, which would pay out an estimated $488 million for that draw.
“Some people like the idea of having something consistent over time,” but in recent years “almost everyone has gone for the cash option price,” Kilbane said.
And then there are federal taxes, which she said would leave profits of $351 million. State taxes could also be reduced to this amount depending on where the winner lives. Still a fortune, but a smaller fortune.
It also doesn’t take into account the possibility of someone else matching the winning numbers, meaning they would have to split even those smaller wins in half or more, depending on the number of lucky players.
Mega Millions is played in 45 states plus Washington, DC and the US Virgin Islands. The game is coordinated by state lotteries.