By Todd Northrop
A rush of ticket sales for the half-billion-dollar Mega Millions jackpot has prompted lottery officials to revise their estimate for the Tuesday night drawing to $512 million.
The all-important lump-sum cash value is now estimated to be a staggering $303.4 million.
Tuesday's drawing will be the 23rd since Mega Millions had a winner. The current jackpot run-up started on May 8 as a $40 million grand prize.
Lottery players seeking to check the winning numbers Tuesday night are urged to use USA Mega (www.usamega.com). State lottery Web sites are normally sluggish or brought to a standstill during busy periods, while USA Mega normally remains responsive.
Mega Millions drawing results will be posted immediately after the 11:00 pm drawing at USA Mega. The number of winners and new jackpot will be announced after all participating states have reported their data, which normally occurs within a few hours after the drawing.
Tickets will remain on sale typically until 10:45 pm Eastern Time on Friday, although players should check with a lottery retailer in their state for the exact sales cutoff time. (Every state is different.) Players are strongly advised not to wait until the last minute.
The odds of winning the jackpot are approximately 1 in 302 million. The odds of winning any of the Mega Millions prizes are 1 in 24.
Mega Millions tickets cost $2 each. For an extra $1 per ticket players can purchase the Megaplier option, which multiplies any non-jackpot won by up to 5 times, depending on the Megaplier number drawn that evening.
The only state that does not offer the Megaplier is California, because state law banning fixed lottery prize amounts is not compatible with the fixed nature of the Megaplier payouts.
Lottery players can see an after-tax analysis of the current Mega Millions jackpot by visiting USA Mega's Jackpot Analysis page.
Mega Millions features nine different prize levels, ranging from $2 all the way up to the jackpot. Players can win even if they just match one number — the Mega Ball number.
Top 25 United States lottery jackpots of all time
Tuesday's Mega Millions jackpot currently stands as the 11th-largest lottery jackpot of all time in the United States. That position may rise before the drawing, as lotteries are typically conservative in their initial estimates, and brisk sales may push the jackpot estimate higher by draw time.
- Powerball: $1.5864 billion, Jan. 13, 2016 - California, Florida, Tennessee
- Powerball: $758.7 million, Aug. 23, 2017 - Massachusetts
- Mega Millions: $656 million, Mar. 30, 2012 - Illinois, Kansas, Maryland
- Mega Millions: $636 million, Dec. 17, 2013 - California, Georgia
- Powerball: $590.5 million, May 18, 2013 - Florida
- Powerball: $587.5 million, Nov. 28, 2012 - Arizona, Missouri
- Powerball: $564.1 million, Feb. 11, 2015 - North Carolina, Puerto Rico, Texas
- Powerball: $559.7 million, Jan. 6, 2018 - New Hampshire
- Mega Millions: $536 million, Jul. 8, 2016 - Indiana
- Mega Millions: $533 million, Mar. 30, 2018 - New Jersey
- Mega Millions: $512 million, Jul. 24, 2018 - Preliminary estimate, not won yet
- Powerball: $487 million, Jul. 30, 2016 - New Hampshire
- Powerball: $456.7 million, Mar. 17, 2018 - Pennsylvania
- Mega Millions: $451 million, Jan. 5, 2018 - Florida
- Powerball: $448.4 million, Aug. 7, 2013 - Minnesota, New Jersey (2)
- Powerball: $447.8 million, Jun. 10, 2017 - California
- Powerball: $435.3 million, Feb. 22, 2017 - Indiana
- Powerball: $429.6 million, May 7, 2016 - New Jersey
- Powerball: $425.3 million, Feb. 19, 2014 - California
- Powerball: $420.9 million, Nov. 26, 2016 - Tennessee
- Mega Millions: $414 million, Mar. 18, 2014 - Florida, Maryland
- Powerball: $399.4 million, Sep. 18, 2013 - South Carolina
- Mega Millions: $393 million, Aug. 11, 2017 - Illinois
- Mega Millions: $390 million, Mar. 6, 2007 - Georgia, New Jersey
- Mega Millions: $380 million, Jan. 4, 2011 - Idaho, Washington
For those keeping score, the number of jackpots in the top 25, by lottery game, are:
- Powerball: 15
- Mega Millions: 10
Top 25 cash value jackpots
Since many lottery winners collect their winnings in cash, the lump-sum payout is an important measure of what a winning ticket could be worth.
Looking at the cash value, the upcoming Mega Millions jackpot ranks as the 12th-largest cash value in U.S. history.
- Powerball: $983.5 million cash, Jan. 13, 2016 ($1.5864 billion annuity) - California, Florida, Tennessee
- Powerball: $480.5 million cash, Aug. 23, 2017 ($758.7 million annuity) - Massachusetts
- Mega Millions: $471 million cash, Mar. 30, 2012 ($656 million annuity) - Illinois, Kansas, Maryland
- Powerball: $384.7 million cash, Nov. 28, 2012 ($587.5 million annuity) - Arizona, Missouri
- Powerball: $381.1 million cash, Feb. 11, 2015 ($564.1 million annuity) - North Carolina, Puerto Rico, Texas
- Mega Millions: $378 million cash, Jul. 8, 2016 ($536 million annuity) - Indiana
- Powerball: $370.9 million cash, May 18, 2013 ($590.5 million annuity) - Florida
- Powerball: $352 million cash, Jan. 6, 2018 ($559.7 million annuity) - New Hampshire
- Mega Millions: $347.6 million cash, Dec. 17, 2013 ($636 million annuity) - California, Georgia
- Powerball: $336.8 million cash, Jul. 30, 2016 ($487 million annuity) - New Hampshire
- Mega Millions: $324 million cash, Mar. 30, 2018 ($533 million annuity) - New Jersey
- Mega Millions: $303.4 million cash, Jul. 24, 2018 ($512 million annuity) - Preliminary estimate, not won yet
- Powerball: $284 million cash, May 7, 2016 ($429.6 million annuity) - New Jersey
- Mega Millions: $281.9 million cash, Jan. 5, 2018 ($451 million annuity) - Florida
- Powerball: $279.1 million cash, Jun. 10, 2017 ($447.8 million annuity) - California
- Powerball: $273.9 million cash, Mar. 17, 2018 ($456.7 million annuity) - Pennsylvania
- Powerball: $263.5 million cash, Feb. 22, 2017 ($435.3 million annuity) - Indiana
- Powerball: $258.2 million cash, Aug. 7, 2013 ($448.4 million annuity) - Minnesota, New Jersey (2)
- Powerball: $254.7 million cash, Nov. 26, 2016 ($420.9 million annuity) - Tennessee
- Mega Millions: $246.5 million cash, Aug. 11, 2017 ($393 million annuity) - Illinois
- Mega Millions: $240 million cash, Jan. 4, 2011 ($380 million annuity) - Idaho, Washington
- Mega Millions: $233.1 million cash, Mar. 6, 2007 ($390 million annuity) - Georgia, New Jersey
- Mega Millions: $230.9 million cash, Mar. 18, 2014 ($414 million annuity) - Florida, Maryland
- Powerball: $227.8 million cash, Feb. 19, 2014 ($425.3 million annuity) - California
- Powerball: $224.7 million cash, Aug. 15, 2012 ($337 million annuity) - Michigan
The number of cash value jackpots in the top 25, by lottery game, are:
- Powerball: 15
- Mega Millions: 10
Todd should pay Todd double time plus hazardous pay for frenzied jackpot seasons.
I think Todd runs LP like Steve Jobs ran Apple. Steve, the chief bottle washer was only paid a Dollar a year * l read, for running the company. LP is his pride & joy, his baby after all.Sacrifices have to be made, for the greater good
I fueled a 3 day conspiracy theory a few years back that Todd won the lotto and got inspired to build this community as a means of giving back. He said interesting but not the case. If anyone deserves a win...
USA Mega has the numbers posted before the official MUSL sites. I still haven't figured out how he pulls that off. Powerball is drawn in FL and the state website seems to take the longest.
Has everyone decided on what they will do with $191,000,000.00? Lump Sum cash. The check will be a bit larger because another 12% is still owed.
CDARS/ICS, Jumbo CDs, will give you time to decide on your course of action. Treasuries can keep some of it safe.
Any other ideas?
I would look into immediate pay annuities. I wouldn’t put a lot of it in there but enough to get a cash stream started to at least replace current salaries.
My after tax amount would be around $163,987,700.
My plan for the current jackpot goes something like this. Plan to invest $120,000,000 million of it over the next 3 years. Take what I estimate to be the “take home” after investing the $120 mill and set aside enough of the remaining money to cover those three years while I am getting my income stream set up. Give up to my life time gift exemption (currently $11,180,000 or $22,360,00 per couple) to family members. Start building my dream house (I already own the land). Start investing in a donor advised fund and through that give $4,000,000 to charity (with the plan on giving 10% a year after that). Hire a personal assistant/pet nanny to stay with my cat while I take my family to Las Vegas. Hmmmm. Maybe buy a Jaguar F-Type.
Oh, and have my husband retire as soon as he can responsibly do so!
$2 Investment Will Turn Into $512 Million.
LottoLucy, I hope that you might know that you will be visiting gas stations a lot with your Jaguar F- Type. It is not the money but just the hassle of having to fill up frequently. Maybe they have improved the MPG. Enjoy your ride!
I do like your generosity toward family members. You will afford it.
I am not a fan of Las Vegas or Reno, NV. If I did go to a casino it would be an Indian owned one. Native Americans.
Annuities are great for the salesperson but not good for the buyer.
I would invest over 7-8 years. 3 years is a short time horisont having so much money. A stock market crash would erase much of the assets. Also diversify investments having stocks in many branches and many international stocks. Good luck when you win!
My prediction is going to $510 million is toast, but you know what? I believe it'll climb even higher...how about $520 million??
Just on the phone with the MA State Lottery for my new Mass Cash tickets, I was steaming. The lady said the printer messed up and gave a bunch of people the wrong #'s. It starts @ 01-35 and my tickets both had 00 for the first #. Then we both laughed about it as she said new tickets were coming.
Based on earlier rises when frenzy starts: I would say at least 540-550.
$700 mil if it rolls!
This happened to me to today when I got mine in the mail. But I have the original ticket/receipt from when I bought it in Cash at the store I bought it from with the correct numbers on it. I wasn't worried about it.
Hello all:
New member here. Im looking forward to chatting with you guys. Good luck to all.