$266 MILLION: Mega Millions lottery jackpot raised again

May 3, 2010, 9:02 am (28 comments)

Mega Millions

Biggest jackpot in nine months

Lottery players across the United States are buying their Mega Millions tickets in preparation for Tuesday's massive $266 million drawing.

Even the cash value — the "holy grail" for many jackpot-watchers — stands at a staggering $165.2 million.

For comparison, the $258 million Powerball jackpot won by a store clerk in Missouri in April awarded a cash value of $124.9 million.

Tuesday's Mega Millions jackpot is the accumulation of 14 consecutive drawings without a top prize winner.  The current jackpot run-up started on March 16 as a $12 million grand prize.

Players should note that jackpot amounts are conservative estimates provided by the lotteries, and are often somewhat higher by the time the drawing occurs.

In the latest Mega Millions drawing that took place this past Friday night, there was no jackpot winner, but 12 lucky players matched the first 5 numbers for a $250,000 prize: 5 from California, 1 from Georgia, 1 from Illinois, 1 from New York, 1 from Ohio, 1 from Tennessee, 1 from Texas, and 1 from Virginia.

The five California winners will each be awarded prizes of $204,482, because California awards all prizes in a pari-mutuel formula, which calculates the prize amount based on the number of tickets sold and the number of winners in each prize category.  This often has the effect of making the prize higher than the other Mega Millions states, but in Friday's drawing, because an unusually large number of people won the second prize, the payout is lower then normal.

Following the Friday drawing, the Mega Millions annuity jackpot estimate was raised $42 million from its previous amount of $224 million. The cash value was raised by $27.1 million, from its previous amount of $138.1 million.

The next Mega Millions drawing will take place Tuesday evening at 11:00 pm EDT.

Mega Millions is currently offered for sale in 38 states, plus Washington, D.C. Two more Mega Millions states will be added in May.

  • Starting May 9, the 39th Mega Millions state, Maine, will be added, with its first eligible drawing taking place on Tue., May 11.
  • Starting May 16, the 40th Mega Millions state, South Dakota, will be added, with its first eligible drawing taking place on Tue., May 18.

For a complete set of game descriptions, results, history, and all questions regarding Mega Millions, lottery players are encouraged to visit USA Mega (www.usamega.com), a Web site that caters to the Unites States's two multi-state lottery games, Powerball and Mega Millions.

Lottery Post Staff

Comments

jarasan's avatarjarasan

I will spend a least 1 hr. to pick some lines!

Banana

dpoly1's avatardpoly1

I spent about 2 seconds on a $2 quick pick! Big Grin

The only thing good about PA is that if you win the lottery ..... you don't have to pay state or local taxes on the winnings! Big Grin Santa

I would try to make do with about $107 Million after Federal Tax! Cool

I woud go to the lottery headquarters right away and they would get name and town ..... NO MOE!  There are a lot of places to hide until the publicity dies down.  It would die down faster with no coopertion with the media. My only quote would be "NO MORE WALMART!" for me. 

I already have a financial plan .... all that I need now is some money to go with the plan .... Cool

There have been winners from the area that I live in, and you don't hear much about them. I already live a very private life, and will continue to do so.

The first Mega Millions Jackpot Winner in PA would mean Christmas in May! Noel

bashley572's avatarbashley572

Thanks to a TRIP the the races this weekend I got tickets in Virgina, PA & my home state of NY... lets see which state I win the most in!!! Thumbs Up

RJOh's avatarRJOh

Quote: Originally posted by bashley572 on May 3, 2010

Thanks to a TRIP the the races this weekend I got tickets in Virgina, PA & my home state of NY... lets see which state I win the most in!!! Thumbs Up

I'm not traveling but I plan to buy tickets like I am traveling, so I should get similar results.Thumbs Up

RJOh's avatarRJOh

Quote: Originally posted by jarasan on May 3, 2010

I will spend a least 1 hr. to pick some lines!

Banana

Even if you win nothing, you will have gotten an hour of enjoyment trying to pick a winner. Thumbs Up

ThatScaryChick's avatarThatScaryChick

I will be getting a couple of lines also! Smile

adamc224

I would have to say that it is going to roll at least one more time... i say to about $312 million. I think it is time for a 300+ jackpot it is May and usually when the temperature rises so does the money if you look at the jackpot history on USAmega.com the winnings follow about the same pattern. i purchase tickets both in "Wonderful" Georgia and "Useless" Tennessee, so wish me luck as i do to everyone here on LP!!!! 

paulfund

I was driving up to DC area from FL, and I kept on seeing billboards that advertised the $266million jackpot... I was able to resist buying in Georgia, but once I stopped for gas in NC, I couldnt resist. Since I play the lotto like twice a year, I decided to spend exactly $100 on QP.

So hopefully with my 100 tickets (10 lines on each ticket) I can win one of this and do what I love for the rest of my life (I'm only 23).

But with the odds being insurmountable (1 out of like 170,000,000), i probably wasted the $100 haha.

LotteryJunkiE99's avatarLotteryJunkiE99

I don't think it's insurmountable, its just about who's going to get to get to have it.   I think there's this one poster on this website with the panther avatar, i think dr65,?  who says its all about if it's going to be you that day or not, so that although it is good and important to increase your chances  i think its also about the universe being on your side, so that if its gonna happen, it will.

 

Again I don't think it's destiny, but it is definitely about chance!!  and about at least giving yourself $1 worth of a chance.  Anyone reading this, I'm sure you can get 4 quarters togeter and give yourself a chance.  You never know!!!!    Approve

 

There's more thrill in trying anyway, than actually winning, although....    C'MON BBIIIG MONEEEY .........WHOOO!!!!!  Jester Laugh

 

oH AND DON'T Worry about looking silly just buying $1 worth of a ticket, if the clerk or whoever gives you a funny look, just smile and nod, and if they don't get that you're trying to give yourself a chance out there, then just know that they probably don't get how this wonderful world works.... still, if you're like me the next time you go in and remember their last smart look they gave you for buying a ticket, buy $1000 worth of tickets in cash and make them count them in front of you, while you sip a beer or two.   Lurking  Cheers   Eek    Hope some of you irksome, assuming, and impertinent clerks are reading this.  Cool

iGlenn

Quote: Originally posted by dpoly1 on May 3, 2010

I spent about 2 seconds on a $2 quick pick! Big Grin

The only thing good about PA is that if you win the lottery ..... you don't have to pay state or local taxes on the winnings! Big Grin Santa

I would try to make do with about $107 Million after Federal Tax! Cool

I woud go to the lottery headquarters right away and they would get name and town ..... NO MOE!  There are a lot of places to hide until the publicity dies down.  It would die down faster with no coopertion with the media. My only quote would be "NO MORE WALMART!" for me. 

I already have a financial plan .... all that I need now is some money to go with the plan .... Cool

There have been winners from the area that I live in, and you don't hear much about them. I already live a very private life, and will continue to do so.

The first Mega Millions Jackpot Winner in PA would mean Christmas in May! Noel

Don't forget your social security number.  Uncle Sam wants their share.

CAL-LottoPlayer

"I spent about 2 seconds on a $2 quick pick!  The only thing good about PA is that if you win the lottery ..... you don't have to pay state or local taxes on the winnings!"

That's about what I did, a few QP's.  As for no state tax, it's the same in California.

"I would try to make do with about $107 Million after Federal Tax!"

That's about right with a 35% tax.  However, there's also the federal "Alternative Minimum Tax" and I'm not sure how that works for such a high amount of income.  I'd have to call the IRS and find out.  Although asking the IRS such a hypothetical question would probably appear ludicrous.  Don't be surprised if the AMT adds up to a large amount for such a high jackpot.

"I woud go to the lottery headquarters right away and they would get name and town ..... NO MOE! There are a lot of places to hide until the publicity dies down. It would die down faster with no coopertion with the media. My only quote would be "NO MORE WALMART!" for me."

It's always good to wait 14 to 60 days while you see a lawyer and accountant.  There are always preparations to make when your life totally changes.  There was one major lotto winner who waited 5 months before collecting his winnings.

"I already have a financial plan .... all that I need now is some money to go with the plan ...."

It's good to see you already have made plans on all your new Mega winnings.  LOL.  Wink

Genome

I have a 2 mega millions 1 year season tickets. If one of those win, they already know who I am because I sent in the registration.

wizeguy's avatarwizeguy

Quote: Originally posted by paulfund on May 3, 2010

I was driving up to DC area from FL, and I kept on seeing billboards that advertised the $266million jackpot... I was able to resist buying in Georgia, but once I stopped for gas in NC, I couldnt resist. Since I play the lotto like twice a year, I decided to spend exactly $100 on QP.

So hopefully with my 100 tickets (10 lines on each ticket) I can win one of this and do what I love for the rest of my life (I'm only 23).

But with the odds being insurmountable (1 out of like 170,000,000), i probably wasted the $100 haha.

Hi paulfund,

Welcome to Lottery Post and good luck to you and the other members here!

Grovel's avatarGrovel

I'll go grab me some tickets tomorrow. Hopefully I will get lucky.

Subscribe to this news story