Thursday, 15 November, 2018

$1.6B Mega Millions prize due to simple math, some surprises

Jean Pierre fills out several Mega Millions lottery tickets for purchase in Orlando Florida JOHN RAOUX APJean Pierre fills out several Mega Millions lottery tickets for purchase in Orlando Florida
Elsie Buchanan | 24 October, 2018, 20:11

The cutoff time to buy your Mega Millions ticket in Iowa is Tuesday at 8:59 p.m.

Wednesday's Powerball lottery prize stands at $US620 million, making it the fifth-largest jackpot in United States history, after no one got all six numbers in Saturday's drawing.

People have come up with "strategies" to win, which including driving a distance to play at a lucky location, but the most common strategy is number picking. "In this 26-draw jackpot run, beginning with the July 27 drawing there were more than 50.2 million winning tickets at all prize levels, including 85 worth $1 million or more and the jackpot victor", Mega Millions announced on its website. The National Weather Service says a person has about a 1 in a million chance of getting hit.

If the odds of winning either Mega Millions or Powerball don't seem enormous enough, how about winning them both?

But much of the focus has been on Tuesday's Mega Millions drawing and what would be the largest jackpot prize in USA history.

Powerball tickets are also $2 apiece, or $3 for tickets with the Power Play option, which can multiply non-jackpot winnings by two, three, four, five or 10 times.

About 280 million tickets were sold for Friday's drawing, with about 60 per cent of all winning number combinations covered, said Seth Elkin, a spokesman for the agency. If a single victor is chosen, they stand to take home a $906 million lump sum after taxes are taken off of the top of the $1.6 billion jackpot.

In fact, it's possible we may never know the name of the victor.

UK's May pleads for support, says Brexit deal is nearly done
Although May called any extension "undesirable", she said there were some circumstances in which it could be desirable. However, the Irish border remains an issue and what she called a "considerable sticking point".


"I got the victor right here!" As a result, public schools rarely get a budget boost.

"It's only two dollars".

Of every dollar played in the Kentucky Lottery, 61 cents goes to the victor, 6 cents to administrative costs, 6 cents to retailers who sell the tickets and 27 cents to the commonwealth for college scholarship and grant programs.

Several states have no additional taxation on lottery winnings, but North Dakota has the lowest tax percentage among states that do charge winnings with state taxes, according to data from USA Mega, a site that provides lottery alerts and information. That would leave me with "just" over $570 million, assuming I took the lump sum.

If there is more than one victor, the jackpot would be divided proportionately, as happened in 2012 with a Mega Millions jackpot of US$656 million, a lottery official said.

But for those who have bought a ticket in the central Arizona town recently you might want to check your pockets: The winning ticket has not been cashed yet.

The odds of winning don't change as jackpots get larger, but the chance that more than one victor will share the prize do.

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