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$540 MILLION: Mega Millions buying frenzy sparks another jackpot increase

Mega MillionsMega Millions: $540 MILLION: Mega Millions buying frenzy sparks another jackpot increase
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By Todd Northrop

The United States — perhaps the world — has never witnessed a lottery-buying frenzy like we are seeing this week.

Mega Millions tickets are being bought at such a rapid pace that the state lotteries in the Mega Millions consortium have raised the jackpot estimate for the second time in as many days.

Early Wednesday morning, just after 1:00 am Eastern Time, USA Mega announced the new record Mega Millions jackpot of $476 million after nobody won in the Tuesday evening drawing.

Less than 12 hours later, with lottery tickets already being pumped out at a pace greater than expected, the jackpot estimate was raised to $500 million.

Now, just 24 hours later, the jackpot estimate for Friday's Mega Millions drawing has been raised to $540 million, with a lump-sum cash option of $389.8 million.

That's an increase of $177 million from the Tuesday jackpot of $363 million.  And yet, the jackpot will probably be even higher by the time the drawing occurs at 11:00 pm Eastern Time (8:00 pm Pacific Time) tomorrow night.

Surely, tickets are being sold at such a rapid pace that the vast majority of all possible number combinations are being covered — multiple times for many combinations — but one still has to ask:  what if just one person wins about $400 million in cash?  It's hard for most people to even picture a number that large, let alone manage that much cash.

Perhaps more interesting to imagine is, what if nobody wins Friday?

Lottery players seeking to check the winning numbers Friday night are urged to use USA Mega (www.usamega.com).  State lottery Web sites are normally 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 Mega Millions states have reported their data, which normally occurs within a couple of 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. Players are advised not to wait until the last minute.

The odds of winning the jackpot are approximately 1 in 176 million. The odds of winning any of the Mega Millions prizes are approximately 1 in 40.

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.

Most states also offer the Megaplier option for an extra dollar per ticket purchased. The Megaplier multiplies any non-jackpot prizes won by 2, 3, or 4 times, depending on the Megaplier number drawn that evening.

Players who purchase the Megaplier and win second prize will automatically have their prize increased by 4x to $1 million.

Lottery Post Staff

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387 comments. Last comment 2 years ago by gordianknot.
Page 1 of 26

Bahamas
Member #114689
August 5, 2011
422 Posts
Offline
Posted: March 29, 2012, 1:33 pm - IP Logged

Hand me my Ventolin!!!

"Freedom of Speech? Keep reading and you will discover that freedom comes at a price!"

    Avatar

    United States
    Member #124819
    March 20, 2012
    212 Posts
    Offline
    Posted: March 29, 2012, 1:33 pm - IP Logged

    But, the other thread Frown


    540 million...wow, that will be crazy if there is just 1 winner.

      dpoly1's avatar - driver
      PA
      United States
      Member #66141
      October 16, 2008
      1434 Posts
      Offline
      Posted: March 29, 2012, 1:47 pm - IP Logged

      Hand me my Ventolin!!!

      I just used my Ventolin and Atrovent!!

      Woo Hoo ............ Dance

      $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

      $292,500,000  Sun Smiley in the bank!

      dpoly1 - Playing the lottery to save the jobs of those that build, transport, sell & maintain luxury items! -

       

      Eschew Poverty ........... Vote Conservative!

        s5thomps's avatar - Lottery-033.jpg
        Hard Luck, Ak
        United States
        Member #23472
        October 13, 2005
        251 Posts
        Offline
        Posted: March 29, 2012, 1:48 pm - IP Logged

        But, the other thread Frown


        540 million...wow, that will be crazy if there is just 1 winner.

                      540 MILLION......may bust 600 million by the time of the drawing!

                                Thank You everyone for contibuting to my Pain free retirement!

                                                                                       Party

        "We make a living by what you get, You make a LIFE by what you give!"

                                                                       Sir Winston ChurchillSun Smiley

          Arrowhead's avatar - underground
          Ohio
          United States
          Member #120759
          December 27, 2011
          275 Posts
          Offline
          Posted: March 29, 2012, 1:48 pm - IP Logged

          Insanity----

          The Ohio annuity after-tax payment is $14,330,769 (26 payments)

          I'm taking the annuity. Yes Nod


            United States
            Member #111446
            May 25, 2011
            6323 Posts
            Offline
            Posted: March 29, 2012, 1:52 pm - IP Logged

            Keep this loaded lotto freight train racing down that mountain pass, nix the brakes, put that petal to the metal with a heavy tail wind.   Yes Nod

              Avatar
              Riegelwood, NC
              United States
              Member #111105
              May 18, 2011
              4096 Posts
              Offline
              Posted: March 29, 2012, 2:01 pm - IP Logged

              In N.Carolina the anniuty after taxes is: $14,123,077 per year. I'm leaning towards the annuity payments.

              Flattery gets you nowhere with me. So keep it real, keep it short or keep it moving!

              Patiently waiting on NC to drop 4414 & 2424

              421, 421 Where are you 421?

                Avatar
                New Member
                Philadelpha, Pa
                United States
                Member #125390
                March 28, 2012
                13 Posts
                Offline
                Posted: March 29, 2012, 2:04 pm - IP Logged

                Just spent ten dollars at ten different locations and am not done shopping yet. Party


                  United States
                  Member #111446
                  May 25, 2011
                  6323 Posts
                  Offline
                  Posted: March 29, 2012, 2:06 pm - IP Logged

                  Just spent ten dollars at ten different locations and am not done shopping yet. Party

                  Good stradagy Eagles, hope that works out for you!

                    ashabug725's avatar - Yavill
                    Indiana
                    United States
                    Member #122873
                    February 9, 2012
                    322 Posts
                    Offline
                    Posted: March 29, 2012, 2:07 pm - IP Logged

                    14,870,769/yr annuity here!!

                    I wish I may, I wish I might...
                               Win the Powerball jackpot THIS big night!!!

                      RedStang's avatar - mustangstu zps4c591ef5.jpg
                      Dutchess , NY
                      United States
                      Member #121966
                      January 21, 2012
                      2518 Posts
                      Offline
                      Posted: March 29, 2012, 2:11 pm - IP Logged

                      Black friday starts early.

                        Avatar

                        United States
                        Member #57732
                        January 17, 2008
                        41 Posts
                        Offline
                        Posted: March 29, 2012, 2:12 pm - IP Logged

                        I bet Todd is getting tired of making changes to the web sites.

                        I'm not a "BOMB" Technician.

                        So if you see me running, try to keep up!

                          Avatar

                          United States
                          Member #122329
                          January 29, 2012
                          61 Posts
                          Offline
                          Posted: March 29, 2012, 2:16 pm - IP Logged

                          Although it's supposed to be better to take the money as one lump sum I would have a hard time passing up the annuity as that's like winning the lotto every single year, makes you all but bulletproof for life and then you can get a feel for money and if you decide to take some risks you have an out come the next check. 

                          I bought two tickets today, my normal numbers and a quick pick and I'm going to buy seven more tickets before tomorrow all being quick picks only one play per ticket. 


                          I hope it rolls over as it would threaten one billion dollars two rolls from now.   Glad to see Powerball taking one to the chops!

                            ashabug725's avatar - Yavill
                            Indiana
                            United States
                            Member #122873
                            February 9, 2012
                            322 Posts
                            Offline
                            Posted: March 29, 2012, 2:16 pm - IP Logged

                            I bet Todd is getting tired of making changes to the web sites.

                            I Agree!

                            but at least he's getting recognition for his amazing work!!

                            I wish I may, I wish I might...
                                       Win the Powerball jackpot THIS big night!!!