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.
Hand me my Ventolin!!!
But, the other thread
540 million...wow, that will be crazy if there is just 1 winner.
I just used my Ventolin and Atrovent!!
Woo Hoo ............
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
$292,500,000
in the bank!
540 MILLION......may bust 600 million by the time of the drawing!
Thank You everyone for contibuting to my Pain free retirement!
Insanity----
The Ohio annuity after-tax payment is $14,330,769 (26 payments)
I'm taking the annuity.
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.
In N.Carolina the anniuty after taxes is: $14,123,077 per year. I'm leaning towards the annuity payments.
Just spent ten dollars at ten different locations and am not done shopping yet.
Good stradagy Eagles, hope that works out for you!
14,870,769/yr annuity here!!
Black friday starts early.
I bet Todd is getting tired of making changes to the web sites.
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!
but at least he's getting recognition for his amazing work!!
I hope so to driving to NJ tomorrow to buy a FEW lol.
Just curious, why do you think buying at different locations is a good strategy?
2011 Cadillac CTS Luxury - $32,495
I just like it! Nothing imported or super expensive but I'd buy one!
MINE! I CALL DIBS!
Well, I believe different locations play different set of numbers..( Just my way of thinking)
Completely agree. Chrysler 300 with all the options would be just fine as well.
I'm just in love with luxury cars. I'd probably get 3 initially, and buy a new one every year(selling the previous of course).
I will claim the jackpot in my name & then form the RLT so that it is not broadcast in the media ........
I made the play last nite ...................
They were showing Nevada border towns on the news as people were forming huge lines crossing the boarder into California border towns to buy Mega Millions tickets.
I really hope this rolls over, I just want to see how out of hand the next jackpot would be.
OK, just wondering. Bought 20 tickets in three diff. spots...not making 20 diff. stops, too much effort there for me.
Nice pick! If I iwn I'm going for a fully equipped Lincoln MKZ
What fun what fun
As good as any other, basically it's all just a big crap shoot, this is the lottery! Winner could be first time player on 1 QP, or someone who
has been playing 40 years who spent his last $5000 on this Friday's drawing. Hence my "good" strategy comment was meant as more of
a generic "atta boy" wish him luck gesture.
na my guy i need all my chips now thats more than half of what the sports, rappers, and the wealthy have ill take me chips pronto
So those lotto lines i'm seeing on CNN are most likely for this draw and not 10yrs ago. Thats sick.
i need a foreign car. AMERICAN MADE are boring cars.
$14,330,769 is a nice after tax annuity but next year the top tier tax rate goes up (unless Congress extends the Bush tax cuts once again).
You will have no certainty from future Fed tax rate increase. If the top Federal rate goes to 70% (it's been higher in past years) then your payment dwindles down to $4,984,615 and that's assuming the Ohio state tax rate stays at 6%.
The cash value after tax in Ohio is $292,500,000 . If it earned a measly 2% in perhaps a Municipal tax free bond then you would net 5,850,000 each year without ever touching the principal.
While someone taking the annuity would be collecting their last payment 26 years from now, the person who opted for the cash would have already been paid over $152,100,000 tax free while still having the original $292,500,000 left in their account.
Not trying to persuade your mind but just wanted to give you a different perspective
Only $1.395M in Rumson, NJ (only is sarcastic)
5bd/5ba, 3,490 sq ft. Built in 2011
I'll put in an offer in a month when my MM check clears.
God most be pretty busy with all the prayers that are being said....
ii willllll be sicccccck to my stomach if one person wins
Personally if you win you should go out and buy a crappier car than what you have. Throw the scent off. lol
I would go pick up a 93 Chryler Voyager with 100,000 miles on it.
Even if you win?
Great idea Venom! Very creative!
Wow, this is just madness! But this has been so exciting to watch too.
I have to admit, I think it would be startling if it rolled over again.
I hear a lot of people are considering the annuity now, and I don't see why not. It really would be like winning the lottery for a couple decades! Maybe I'm just young (19, lol), but the fear of a governmental melt down to threaten any annuity set by the lottery (government bonds) seems a bit conspiracy theorist like. If the government was in such a shape that there is hyper inflation AND the government stops sending out the guaranteed payments, I think we would noticeably be in far greater trouble financially as a whole country.
Of course, you'd also have to worry about increases in taxes. That's another thing you'd be betting with the annuity, but even that I think could be manageable if you were deadset on getting it.
I think the only thing that would make me ere on the side of caution and take the lump sum is that it's paid over 26 years. That's both a blessing and a curse. The blessing is obvious, but the curse is- what if you die before the annuity finishes distributing to you? I hear that your family after your death would have to pay taxes on the ENTIRE amount of the winning, even though your estate hasn't received the entire thing (which would be paid to you heirs as well). That, to me, is a huge deterrent of the annuity option. I wouldn't want to put that burden on my family. You are more likely, I'm sure, to die tomorrow in a car accident than in fear the government is going to scale back on your annuity, just saying.
Although, if someone can tell me otherwise about the above, that would be great! I'm still learning about all this.
I suppose another deterrent would be your investment opportunity. I've read a comparison where if you were to invest the lump sum option versus the annuity every year you receive it, you still receive more return on the lump sum. But not everyone is interested in investing, of course, but it would be wise to grow your money and give it to the next generation.
Any more detailed information on this though would be greatly appreciated! I admit, I'm a novice.
Still undecided about the annuity versus lump sum option, but at this point, I think many of us would be happy with either.
If I win I will get a t-shirt that says "I am the 1%".
Don't all locations play different numbers?
yeAH becuz i wuld b soooooooooooooooooooo
happy
does'nt matter which bridge you use, no toll coming in, however,
you have to pay to get out.
I will be royally pissed off if a first time player off one QP wins it!
Though Lady Luck is an Equal Opportunity Wish Granter
I don't get on here much,maybe just to read post. But this Jackpot has caught my attention. The man who has won the lottery 7 times,Richard Lustig,had some tips on winning the lottery. So I printed them out and going to try out these tips. I have picked out some numbers,three tickets of my picks and going to buy 3 tickets of quick picks. Thirty dollars worth. He said it don't matter how many tickets you buy,the odd's stay's the same. He also said Luck has nothing to do with it too. Heard on the news that all the number combinations are also filling up. There probably will be more than one winners this time. I just hope I will be one of them,just a little is all I need to live the life of Riley....but of course,if I am the one who wins it all,Just have to keep a low profile first,then get all my Ducks in a row,before I make the announcement,I'm the winner of the largest Jackpot in America's History.
You can also make a claim under an LLC and disolve it after you have opened several others. You should never claim under your real name for the sake of your family.
set that house down in Egg Harbor twp. and its worth about $400,000
There will most likely be another increase of at least 50 million tomorrow. Less than a hour after I bought my ticket that said 476 million, they increased the jackpot to 500 million.
ill give the media my great great great grandfathers name
im picking ages of my immediate family
I would like to hear some names of trusts that you have considered ..of course not revealing any that you would use.
I really think that the people who win this will not be able to keep their mouths shut. Look at the Rainbow Sherbet Woman. She formed a trust..and then had to let people know she won.
These different perspectives are invaluable, Jill34786 (isn't your number the zipcode for Windermere?
)! Truly and utterly. These are the kind of posts I love reading, and it's great to have people who have and still work in finances to give these kinds of responses. I think I'll still lean toward the lump sum option then. Thanks so much for this info!
You also mentioned that there are communities within Orlando that are barred against the media. For Windermere, would that be near the Butler Chain of Lakes' communities? Maybe Bay Hill? I'm curious if there are other communities like that, maybe in Heathrow and Lake Nona that offer the same kind of protection? I'd think Winter Park would be too open and unguarded to offer that. Would Montverde would that too? Near Lake Apopka. What about Celebration and its ties to Disney? That and I'm sure the luxury communities on the beaches are a given, no matter what part of Florida you live in.
Sorry If I make some people sick but if I win the Jackpot write me your name and address and I will gladly buy you a bottle of Pepto! The only thing that will make me angry if one of these Celebs I have been seeing out in Hollywood that are buying tickets wins.....
I hate it when someone who already has Millions wins....give us regular working stiffs a chance to get out from under!!
For those of you thinking of taking annuity you are forgetting about the other tax INFLATION in 20 years will $14 million be what it is today? NO.
$540 Million sounds good to me!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
1 Ticket ........... 1 Person
the jackpot is so high that you could buy all 175 million combinations and even if another person including yourself won, you would still come out ahead. i dont think it would be possible to do in reality, to print up 175 million tickets before friday. im hoping only one person wins though, its a better story that way.
I am hoping to win the Powerball and not the MegaMillions because right now absolutely no one will remember or care who you are and quite frankly I don't want or need this much money and all the crap that is going to go along with it. Forever whenver the jackpot gets large in the lottery your name will always be brought up as the winner of the biggest lottery in the history of America, maybe the world.
I could envision a The Don of a family working this out. All you need to do is have a lot of minions to carry this through.
Would love to know the story on the Idaho jackpot that the winner decided not to claim.
I know haymaker! Location, location! This house only 800 yds from the Navesink River and the Atlantic Ocean is 1000 yds away. But I hear ya!
If you are Goldman Sachs or some other firm like that this is very doable. The problem is if a lot of these firms and other billionaires did the same thing they could end up with heavy losses if the jackpot has to be shared.
PA is long over due......
I sure hope it does NOT roll-over anymore! I'd sure like to get started on my plan this weekend. And with a QUARTER of a BILLION, AFTER TAX!!!!.... I think my plan would be financed well enough.
Years ago, I designed a dream house in Google Sketch-Up and would like to start shopping lots and talking with architects. It's not too extravagant, although I think it worked out to be about 17,000 square feet. But it's a SMALL 17,000 square feet.
Actually, I just designed the rooms I wanted on one floor, and got a lot of excess space just filling in the upstairs. A modest, 8-car garage... with the land option to build a second, unattached garage if we need more space. I do have some kids after all. And when they start driving, could get a little crowded.
With plenty of money to build it, my vision is to bring in all kinds of new technology to minimize maintenance and operating costs. Maximize efficiency (insulation, heat pump, super-efficient appliances, LED lighting, etc), generate power (solar, maybe wind), capture rain water (so my yard won't die when we're under watering restrictions down here in Texas). I'm wondering if it is technologically possible (YET!!!), to build a 17,000 square foot house with operating costs of less than $100/month. Practically living "off the grid".
Put the excessive money in up front to build it, with the goal to have very little cost ongoing. (Because property taxes -- one of the worst kinds of taxes because it taxes "existing" rather than activity -- could be $20k-$25k per month. Need a trust fund set-up just to pay that each year.)
Pushing the edge of new technology (which would be expensive) and changing the paradigms of how we build houses, my hope would be to help change the world. Once you figure out the best way to build things, then costs can come down for others with increased production. Working with an architect and builder, take the knowledge from this "prototype", and start building highly efficient neighborhood developments. Neighborhoods that are capable of operating "off the grid".
I can dream, can't I?
Well, in a way, you make a sound point. But if this has happened once, you can bet that it will happen again, even if it's rarely. If you ever wanted to win a jackpot at this size, maybe it would be best to do so when 400-600 million is on the tier of excitement from 300 million. Basically, when people are complaining that everyone wins right before the 750-800 million record. Shouldn't have to wait too long, ha ha. But I have to admit, it would be nice to just quietly win the Powerball and be on your merry way. Too bad, here, we only offer one, so, anyone winning the Powerball is still kind of big news, regardless of the size.
u guys are crazy talking that trust fund stuff and saving money listen yu guys including myself prob wont make close to that in your life time so skip me its a half billion dollars n not one person said take care of their family or give some to charity, if i win my whole family eating... we all go cutt the cake like newlyweds
Your welcome! Bay Hill is not guard gated and Lake Nona isn't bad plus you would be near the airport. The community I live in is surrounded by the Butler chain of lakes and from my perspective the most attractive and secure environment one could ask for.
The community in Montverde is BK and a total mess, would not suggest it.
Curious, but is anyone else having problems loading Lottery Post at times? Chrome has been freezing up and killing pages, probably from all the traffic and the frequent updates, but hmm, I've never had this problem with any other site.
What on' God's earth are you building that is going to cost $25,000 a month in property taxes?
My buddy has a $25 millon house in Palm Beach and his property taxes are $150,000 a year.
sometimes DispL......thats because we aren't able to purchase MM tickets here in FL
Yep.
Well mega got my $20 on wednesday so hopefully I can win or share the jackpot on friday. Good luck.-weshar75
Ive has asked my family to give me there lotto numbers for the drawing...the dont have the Mega Millions in Florida (their only option is to drive to Georgia). Im
playing $50..a combination of quick picks and my/there numbers...wish me luck...oh what would I do..DISAPEER OFF THE RADAR...maybe a trip to New Zealand or Austraila or
bouncing around between islands in the Pacific..anway my family would be "hooked up" for life and the world would be a "playground"...
Heating/cooling cost on a conventionally built 17,000 sq.ft. depending on location would most likely run $2,000-$2,500 per month. Incorporating ICF, Geo thermal, quality gas filled clad windows, smart home automation, Solar panels could easily cut cost down to the $600-$800 range.
Just a few tips we have picked up from building a few homes.
Property taxes seem to be higher in Texas... probably because we do not have a state income tax. Build a $10-$12m house, with property taxes of 2%-2.5%, and you have a monthly tax bill of $20k-$25k.
I'm guessing a house like I would want, built conventionally, would probably cost less than 5 million. But I'm doubling it for the technological upgrades I want to try to make it self-sufficient. I plan to push the limits of solar technology, etc.
Thats nice of you Smithster....had to make that request and agreement on this end too
-------- Quote --------
Heating/cooling cost on a conventionally built 17,000 sq.ft. depending on location would most likely run $2,000-$2,500 per month. Incorporating ICF, Geo thermal, quality gas filled clad windows, smart home automation, Solar panels could easily cut cost down to the $600-$800 range.
Just a few tips we have picked up from building a few homes.
--------
Thanks, Jill!!! Some reality to support that it's not just a pipe dream. Push the limits a little more, and we have operating costs down to my arbitrary number of less than $100 a month.
Your dream makes too much common sense. People are too lazy for forward thinking. All they wanna do is complain. A house that would be self-sufficient and generate more power than it needs, what a concept. Besides, with $300 million cash, most people will just purchase their dream house.
"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."
I couldn't Agree more!..The website that offerrs online lottery ticket sales (address withheld as per rules and regulations of lottery post)-is totally un-accesible for the last 6 hours,simply because it's too busy as millions of lottery players across the globe try to purchase tickets online but in vain.
What avery big disappointment for the website managers! and the players!.
Those of you in USA,if cann't buy tickest now,when will you ever wait to see the jacket raise again to $ 500 Million!
It's a golden opportunity for you,go and buy your tickets now!.I am sure Todd has bought plenty!,he knows that this is once in a life time opportunity.
Good Luck.
Abdi,Nairobi
Kenya.
Africa.
If someone had every combination and were to split 2-ways they would not be ahead. Once taxes are factored in they would be down at least $30-40 million.
You do realize that this conversation around this jackpot has been going on for over a week correct? Most have talked about taking care of family and loved ones and for people like me it's a given so it doesn't make me less of a person if I don't broadcast it over lottery post - lol. I like the angle we're focused on now as we're pooling as it were very helpful tips on money management that will assist any one of us who in time may win a jackpot. Managing the windfall well is paarmount to helping yourself, family, friends and charities in a more constructive way.
<scratching head> I wonder if taking care of family means lawn care at the cemetary ???
Thanks and of course taken care of the family is priority #1..I would also adopt some kids..i figured "why not"
Your preaching to the choir as far as I'm concerned!
Technological upgrades? Like an iPad controlling the showers, doors and pool? A house that can not only receive vocal commands, but also talk back to you? Gotta get crazy with it!
My house would be like the Jack's house from Eureka.
How about one wall street exec. from Rhodie?
Maybe even the one-half %?
Not me, I am buying houses beside Mac, rdgrnr, jill, todd and a few others from LP, then get 4 large basset hounds that bark alot and leave large lawn ornaments
Just think how many people right now are blowing their entire tax returns on this jackpot
Imagine if nobody even wins the jackpot on Friday... imagine a billion dollar jackpot...
not only has mr"Please play responsibly" left the building for this jackpot
he was Kicked off the roof by mega millions sparta style
this is how it went down:"
atfer pushing him to side of roof with a sword pointed at him
MM: not only have u threaten my people with low jackpots and low sells,
PPR: This is madness!
MM: madness? this is half a billion dollars!
mm kicks MR Please play responsibly off the roof!, and hes now in critical condition ,he recovery atfer Mega millions is done with its"madness"
Who ever wins this one , if 1 or 2 tickets, is gonna have a fun time remaining anonymous. That IS a problem I woudl be willing to deal with.
funny, i picture 2 actors dressed in mascot style costumes doing this.
Like a good neighbor State Farm CD is there! Those "ornaments" will be great for Christmas time!
John Lennon could....why can't we???
Just got an email that might interest some of you who are in lottery pools... there is an ABC link that I am not allowed to post (see? old dogs CAN learn new tricks!) so I do not know how I can pass on any more info.. but I'm guessing that if you google it you should be able to find the info.
This email came 15 min ago and included:
Are You in an Office Lottery Pool?
"20/20" wants to hear your story.
" My house would be like the Jack's house from Eureka." good show
Or you could buy that $10 million home that Yahoo did a story on a day or two ago.
I will not donate any money to charities. I don't trust them. I won't be an angel investor either.
Instead, I will start my own modest charity foundation, out of the incomes from the investments, not the principal prize. I will also split the winning with my family and relatives in the stateside. But I will keep the lion's share, about 85%.
My email accounts are programmed to SPAM any email with lottery and pool in the subject line or body - lol!
I googled and found it. I guess from a media perspective it's a more interesting story to tell. Lottery Pools if successful would impact multiple families with a variety of goals and dreams and usually is a combination of young, old and middle aged individuals.
As my LP family knows I do not endorse lottery pools.
I support charities today and I never do it by forking over cash. I don't want my money covering per diems for lofty fact finding trips to Africa. So I would do things like buy groceries for children's homes based on their current needs or clothing or building material for expansion initiatives. Only difference if I ever become wealthy would be to set up my own charity iniative who would manage the causes I support in these very ways I do and of course on a much larger scale.
Yes is gonna be 1 winner and that winner is me................. because tomorrow is my birthday and am gonna get my 1 line ticket with my lucky numbers.............. tomorrow am going to be the winner
Huge Congrat's luckismyname!!! I'm sure we'll be hearing much more from you starting tomorrow, via the press and LP.
Welcome to LP luckismyname!
Lottery Pool = no not me. not now, not ever. Never have, and wont. No no no.
lottery pool R for suckers
From your skit, I pictured MM as having Arnold Schwarzenegger's accent, lol.