$508 MILLION: Mega jackpot to spark ticket-buying frenzy

Jul 6, 2016, 9:13 am (95 comments)

Mega Millions

Half-billion jackpot is 7th-largest of all time

By Todd Northrop

July 4th is behind us, but some lucky person still has their Independence Day ahead of them — independence from financial burdens, that is.

After an unprecedented 34 drawings without a jackpot winner, the multi-state Mega Millions lottery game now boasts a swelling jackpot of more than a half-billion dollars that could instantly put someone among the wealthiest people on the planet.

After nobody won Tuesday night's grand prize, the Mega Millions jackpot grew to an estimated $508 million — the largest since a $636 million jackpot was split by two tickets on Dec. 17, 2013. The two halves of that jackpot were claimed by Ira Curry of Stone Mountain, Georgia, and Steve Tran of Northern California.

Friday's $508 million Mega Millions jackpot is the 3rd-largest in the game's history, and the 7th-largest United States lottery jackpot of all time (see full list below).

The lump-sum cash value of $357.7 million is also the 6th-largest on the all-time US lottery jackpot cash value list.

The current jackpot run-up started on March 11 as a $15 million grand prize — it has been 4 months since Mega Millions has had a jackpot winner.

Lottery players wondering what all the cash will look like in their bank account after federal and state taxes are taken out can see an after-tax analysis of the current Mega Millions jackpot by visiting USA Mega's Jackpot Analysis page.

The rush of ticket sales over the next few days likely will propel the jackpot to an even higher amount before the drawing takes place Friday. Lottery Post and USA Mega will update the jackpot tallies displayed if such an increase occurs.

In Tuesday night's Mega Millions drawing, there was no jackpot winner, but 7 lucky players matched the first 5 numbers for a $1,000,000 prize: 1 from California, 1 from Florida, 1 from New Jersey, 1 from Ohio, 1 from Oklahoma, 1 from Pennsylvania, and 1 from Texas.

Unfortunately, none of the second-prize winners purchased their ticket with the Megaplier option for an extra $1 per play.  If they had, their prize would have been increased to a whopping $5 million, because the Megaplier number drawn was 5.

The lucky California second-prize winner will be awarded an extra-sweet $2,333,142. By law, California awards all lottery prizes on a pari-mutuel basis, meaning the prizes will change each drawing based on the number of tickets sold and the number of tickets that won at each prize level. This drawing that prize calculation paid off big-time.

The Megaplier option is not available in California, because the fixed nature of the prize increase offered with the Megaplier is not compatible with California's pari-mutuel payouts.

Also, a total of 139 tickets matched four of the first five numbers plus the Mega Ball to win a $5,000 prize. Of those tickets, 13 were purchased with the Megaplier option, increasing the prize to $25,000, and 19 were sold in California, where the prize awarded this drawing is $5,606.

The Mega Millions winning numbers for Tuesday, July 5, 2016, were 29, 46, 53, 64, and 73, with Mega Ball number 10. The Megaplier number was 5.

Following the Tuesday drawing, the Mega Millions annuity jackpot estimate was raised $54 million from its previous amount of $454 million. The cash value was raised by $38.7 million from its previous amount of $319 million. 

Mega Millions is currently offered for sale in 44 states, plus Washington, D.C. and the U.S. Virgin Islands. Drawings are Tuesdays and Fridays at 11:00 pm Eastern Time. Tickets cost $1 each.

The Mega Millions winning numbers are published at USA Mega (www.usamega.com) minutes after the drawing takes place.

Top 25 United States lottery jackpots of all time

Friday's Mega Millions jackpot currently stands as the 7th-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.

  1. Powerball: $1.5864 billion, Jan. 13, 2016 - California, Florida, Tennessee
  2. Mega Millions: $656 million, Mar. 30, 2012 - Illinois, Kansas, Maryland
  3. Mega Millions: $636 million, Dec. 17, 2013 - California, Georgia
  4. Powerball: $590.5 million, May 18, 2013 - Florida
  5. Powerball: $587.5 million, Nov. 28, 2012 - Arizona, Missouri
  6. Powerball: $564.1 million, Feb. 11, 2015 - North Carolina, Puerto Rico, Texas
  7. Mega Millions: $508 million, Jul. 8, 2016 - Preliminary estimate, not won yet
  8. Powerball: $448.4 million, Aug. 7, 2013 - Minnesota, New Jersey (2)
  9. Powerball: $429.6 million, May 7, 2016 - New Jersey
  10. Powerball: $425.3 million, Feb. 19, 2014 - California
  11. Mega Millions: $414 million, Mar. 18, 2014 - Florida, Maryland
  12. Powerball: $399.4 million, Sep. 18, 2013 - South Carolina
  13. Mega Millions: $390 million, Mar. 6, 2007 - Georgia, New Jersey
  14. Mega Millions: $380 million, Jan. 4, 2011 - Idaho, Washington
  15. Powerball: $365 million, Feb. 18, 2006 - Nebraska
  16. The Big Game: $363 million, May 9, 2000 - Illinois, Michigan
  17. Powerball: $340 million, Oct. 19, 2005 - Oregon
  18. Powerball: $338.3 million, Mar. 23, 2013 - New Jersey
  19. Powerball: $337 million, Aug. 15, 2012 - Michigan
  20. Powerball: $336.4 million, Feb. 11, 2012 - Rhode Island
  21. Mega Millions: $336 million, Aug. 28, 2009 - California, New York
  22. The Big Game: $331 million, Apr. 16, 2002 - Georgia, Illinois, New Jersey
  23. Mega Millions: $330 million, Aug. 31, 2007 - Maryland, New Jersey, Texas, Virginia
  24. Mega Millions: $321 million, Nov. 4, 2014 - New York
  25. Mega Millions: $319 million, Mar. 25, 2011 - New York

For those keeping score, the number of jackpots in the top 25, by lottery game, are:

  • Powerball: 13
  • Mega Millions: 10
  • The Big Game: 2

The Big Game is the original name of Mega Millions, from the game's first drawing on Sep. 6, 1996 through May 14, 2002.  The name was changed to Mega Millions starting with the May 17, 2002 drawing.

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 6th-largest cash value in U.S. history.

  1. Powerball: $983.5 million cash, Jan. 13, 2016 ($1.5864 billion annuity) - California, Florida, Tennessee
  2. Mega Millions: $471 million cash, Mar. 30, 2012 ($656 million annuity) - Illinois, Kansas, Maryland
  3. Powerball: $384.7 million cash, Nov. 28, 2012 ($587.5 million annuity) - Arizona, Missouri
  4. Powerball: $381.1 million cash, Feb. 11, 2015 ($564.1 million annuity) - North Carolina, Puerto Rico, Texas
  5. Powerball: $370.9 million cash, May 18, 2013 ($590.5 million annuity) - Florida
  6. Mega Millions: $357.7 million cash, Jul. 8, 2016 ($508 million annuity) - Preliminary estimate, not won yet
  7. Mega Millions: $347.6 million cash, Dec. 17, 2013 ($636 million annuity) - California, Georgia
  8. Powerball: $284 million cash, May 7, 2016 ($429.6 million annuity) - New Jersey
  9. Powerball: $258.2 million cash, Aug. 7, 2013 ($448.4 million annuity) - Minnesota, New Jersey (2)
  10. Mega Millions: $240 million cash, Jan. 4, 2011 ($380 million annuity) - Idaho, Washington
  11. Mega Millions: $233.1 million cash, Mar. 6, 2007 ($390 million annuity) - Georgia, New Jersey
  12. Mega Millions: $230.9 million cash, Mar. 18, 2014 ($414 million annuity) - Florida, Maryland
  13. Powerball: $227.8 million cash, Feb. 19, 2014 ($425.3 million annuity) - California
  14. Powerball: $224.7 million cash, Aug. 15, 2012 ($337 million annuity) - Michigan
  15. Powerball: $223.3 million cash, Sep. 18, 2013 ($399.4 million annuity) - South Carolina
  16. Mega Millions: $214 million cash, Aug. 28, 2009 ($336 million annuity) - California, New York
  17. Powerball: $211 million cash, Mar. 23, 2013 ($338.3 million annuity) - New Jersey
  18. Powerball: $210 million cash, Feb. 11, 2012 ($336.4 million annuity) - Rhode Island
  19. Mega Millions: $202.9 million cash, Mar. 25, 2011 ($319 million annuity) - New York
  20. Mega Millions: $197.5 million cash, Nov. 4, 2014 ($321 million annuity) - New York
  21. Powerball: $197.4 million cash, Sep. 30, 2015 ($310.5 million annuity) - Michigan
  22. Mega Millions: $194.4 million cash, Aug. 31, 2007 ($330 million annuity) - Maryland, New Jersey, Texas, Virginia
  23. Powerball: $191.9 million cash, Mar. 2, 2016 ($291.4 million annuity) - Florida
  24. Mega Millions: $185 million cash, Nov. 15, 2005 ($315 million annuity) - California
  25. The Big Game: $180 million cash, May 9, 2000 ($363 million annuity) - Illinois, Michigan

The number of cash value jackpots in the top 25, by lottery game, are:

  • Powerball: 13
  • Mega Millions: 11
  • The Big Game: 1

Lottery Post Staff

Comments

dpoly1's avatardpoly1

DanceI'm Ready!

I got my tickets this morning!

Good luck to all!

1 Ticket ......... 1 Winner!

Groppo's avatarGroppo

Quote: Originally posted by dpoly1 on Jul 6, 2016

DanceI'm Ready!

I got my tickets this morning!

Good luck to all!

1 Ticket ......... 1 Winner!

.

Go to USAmega.com, and mouse-hover over the MM prize.

It shows "cash value = $357.7"

I'd happily settle for the .7

And good luck to you too, Mr./Ms. Dpoly1.

delS

This is not just a life changing event for the one person (persons) or family. The many people that will be or can be impacted by such a huge liquidity event will be many, many, many people.

Having said that, I'm prepared to make room in my life for this event.

LiveInGreenBay's avatarLiveInGreenBay

I'm just buying one quick pick.  One is all you need.

osmannica2001

I have always wondered why rich people don't take this approach to make an extra few bucks.

For example, if I had the money, I would visit the lottery headquarters and come across with something like, "hey, here's the payment for ALL possible combinations, hence give me some sort of MASTER ticket in return". Once the game plays, I know I will be the winner. However, most times, you are risking of sharing your money (not if someone had done this on Tuesday's game). At the end, you're gambling your money. Ha.

Groppo's avatarGroppo

Quote: Originally posted by LiveInGreenBay on Jul 6, 2016

I'm just buying one quick pick.  One is all you need.

.

No pet numbers?
You must have more than just one ticket in play.

Thegreenpirate

You all really don't want to listen to the kid?? I know the great state of Sunny Arizona will have its very first MEGA MILLIONS WINNER!!! The winner will win $729 Million with no splitting at all Making him the sole winner of the jackpot and also the ticket will be a $5 QUICKPICK sold at Safeway Grocery store. THE PERSON THAT WINS THIS WILL BE THE BIGGEST SINGLE LOTTERY WINNER IN WORLD HISTORY IN ARIZONA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! THE FORCES OF NATURE TOLD ME!!!

THRIFTY's avatarTHRIFTY

02-24-29-53-63 + 08
25-29-44-46-64 + 01
05-21-29-45-74 + 05
29-35-47-59-71 + 12
45-52-64-66-73 + 12
15-66-67-68-70 + 07
08-17-23-37-68 + 10
07-40-43-50-51 + 12
05-13-27-46-72 + 10
28-45-63-72-73 + 04
03-25-32-60-68 + 01
02-05-19-25-45 + 15
49-58-59-65-69 + 11
10-11-18-19-26 + 01
03-25-40-58-63 + 01
07-16-21-42-57 + 09
11-40-47-50-61 + 05
03-12-60-63-65 + 03
12-14-25-31-68 + 06
07-09-18-56-68 + 09
07-21-29-44-46 + 06
05-12-49-55-59 + 01
05-17-30-35-68 + 04
20-32-44-47-67 + 09
27-35-46-62-75 + 06
01-11-13-23-47 + 05
13-15-22-30-74 + 09
09-22-48-60-75 + 05
13-26-27-31-54 + 15
08-10-32-46-56 + 10
08-26-27-36-39 + 08
07-09-20-64-68 + 01
08-13-42-46-57 + 07
35-39-41-42-47 + 15
18-50-53-69-70 + 12
16-26-43-50-69 + 14
08-17-33-41-45 + 01
23-25-31-42-54 + 06
04-08-18-40-41 + 13
29-43-58-65-73 + 10
10-13-51-65-69 + 13
24-44-57-68-73 + 03
04-28-50-51-53 + 10
01-06-18-41-68 + 09
14-28-31-56-57 + 01
12-22-32-40-45 + 03
07-25-30-74-75 + 05
02-18-30-33-51 + 10
39-57-62-64-70 + 07
10-19-37-42-63 + 13

MaximumMillions

Quote: Originally posted by osmannica2001 on Jul 6, 2016

I have always wondered why rich people don't take this approach to make an extra few bucks.

For example, if I had the money, I would visit the lottery headquarters and come across with something like, "hey, here's the payment for ALL possible combinations, hence give me some sort of MASTER ticket in return". Once the game plays, I know I will be the winner. However, most times, you are risking of sharing your money (not if someone had done this on Tuesday's game). At the end, you're gambling your money. Ha.

Because there are 258 million possible combinations, at 1$ each that's 258M$, factor in all the time this costs, the taxes on the winnings and the possibility of havng to share the jackpot with one or more other winners makes this unattractive.

 

EDIT: Good luck to everyone who bought in!

noise-gate

This jackpot is getting pretty exciting. Not that it wasn't before,  it's just that now it's cooking with gas. All the best on Friday people. Let's win the PB in the meantime. Banana

jjtheprince

Quote: Originally posted by MaximumMillions on Jul 6, 2016

Because there are 258 million possible combinations, at 1$ each that's 258M$, factor in all the time this costs, the taxes on the winnings and the possibility of havng to share the jackpot with one or more other winners makes this unattractive.

 

EDIT: Good luck to everyone who bought in!

Exactly, even if you could afford to buy 1,000,000 quick picks, your odds of winning the jackpot are still VERY minuscule.

music*'s avatarmusic*

 Thank You, Todd, for this post.

 A certain winner in California will have a cake walk this upcoming Friday night. Thank You to all you who participate in this draw.Lurking

rcbbuckeye's avatarrcbbuckeye

Quote: Originally posted by osmannica2001 on Jul 6, 2016

I have always wondered why rich people don't take this approach to make an extra few bucks.

For example, if I had the money, I would visit the lottery headquarters and come across with something like, "hey, here's the payment for ALL possible combinations, hence give me some sort of MASTER ticket in return". Once the game plays, I know I will be the winner. However, most times, you are risking of sharing your money (not if someone had done this on Tuesday's game). At the end, you're gambling your money. Ha.

After the federal taxes are all paid, a person doing that would lose at least 43 million. And that's in a state with no income taxes. And assuming there is only one winner.

And then being able to fill out all the playslips and having time to run them. (It wouldn't happen at lottery headquarters.)

Gotta get quite a bit higher before trying that.

hearsetrax's avatarhearsetrax

Skeptical serious looking clouds b4 the November mega storm

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