20th-largest U.S. jackpot of all time
By Todd Northrop
The multi-state Mega Millions lottery game continued its months-long climb Friday night, and is now at the point where jackpot rolls are sharply increased.
After nobody won Friday night's grand prize, the Mega Millions jackpot grew to an estimated $321 million — the largest since a $414 million Mega Millions jackpot was split between two tickets from Florida and Maryland on March 18, 2014. (See Florida couple, nearly penniless, claim half of $414M lottery jackpot, Lottery Post, May 1, 2014.)
The lump-sum cash value rose to a massive $194.1 million — the 17th-largest U.S. lottery cash value in history.
Tuesday's Mega Millions jackpot is the accumulation of 20 consecutive drawings without a top prize winner. The current jackpot run-up started on August 26 as a $15 million grand prize — it has been more than two months since Mega Millions has had a jackpot winner.
The last big Mega Millions winner was Rick Knudsen, 53, of Calimesa, California, who won a $180 million jackpot in the Aug. 22 Mega Millions drawing. (See California man claims $180 million lottery jackpot, Lottery Post, Sep. 4, 2014.)
Lottery players can see an after-tax analysis of the current Mega Millions jackpot by visiting USA Mega's Jackpot Analysis page.
Players should note that jackpot amounts are conservative estimates provided by the lotteries, and are often somewhat higher by the time the drawing occurs. Occasionally the official jackpot estimate is raised even before the drawing, due to larger-than-expected sales.
In Friday night's Mega Millions drawing, there was no jackpot winner, but 5 lucky players matched the first 5 numbers, winning the second prize: 2 from California, 2 from New Jersey, and 1 from New York. The 2 California second-prize winners will each be awarded prizes of $604,409, and the 3 winners from the other states will receive prizes of $1,00,000 each.
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 $2 million, because the Megaplier number drawn was 2.
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. By law, California awards all 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.
Another 68 tickets matched four of the first five numbers plus the Mega Ball to win a $5,000 prize. Of those tickets, 4 were purchased with the Megaplier option, increasing the prize to $10,000, and 12 were sold in California, where the prize is worth $5,536 this drawing.
The Mega Millions winning numbers for Friday, October 31, 2014, were 11, 29, 36, 58, and 67, with Mega Ball number 15. The Megaplier number was 2.
Following the Friday drawing, the Mega Millions annuity jackpot estimate was raised $37 million from its previous amount of $284 million. The cash value was raised by $22.1 million, from its previous amount of $172 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
Tuesday's Mega Millions jackpot currently stands as the 20th-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.
- Mega Millions: $656 million, Mar. 30, 2012 - Illinois, Kansas, Maryland
- Mega Millions: $648 million, Dec. 17, 2013 - California, Georgia
- Powerball: $590.5 million, May 18, 2013 - Florida
- Powerball: $587.5 million, Nov. 28, 2012 - Arizona, Missouri
- Powerball: $448.4 million, Aug. 7, 2013 - Minnesota, New Jersey (2)
- Powerball: $425.3 million, Feb. 19, 2014 - California
- Mega Millions: $414 million, Mar. 18, 2014 - Florida, Maryland
- Powerball: $399.4 million, Sep. 18, 2013 - South Carolina
- Mega Millions: $390 million, Mar. 6, 2007 - Georgia, New Jersey
- Mega Millions: $380 million, Jan. 4, 2011 - Idaho, Washington
- Powerball: $365 million, Feb. 18, 2006 - Nebraska
- The Big Game: $363 million, May 9, 2000 - Illinois, Michigan
- Powerball: $340 million, Oct. 19, 2005 - Oregon
- Powerball: $338.3 million, Mar. 23, 2013 - New Jersey
- Powerball: $337 million, Aug. 15, 2012 - Michigan
- Powerball: $336.4 million, Feb. 11, 2012 - Rhode Island
- Mega Millions: $336 million, Aug. 28, 2009 - California, New York
- The Big Game: $331 million, Apr. 16, 2002 - Georgia, Illinois, New Jersey
- Mega Millions: $330 million, Aug. 31, 2007 - Maryland, New Jersey, Texas, Virginia
- Mega Millions: $321 million, Nov. 4, 2014 - Preliminary estimate, not won yet
- Mega Millions: $319 million, Mar. 25, 2011 - New York
- Mega Millions: $315 million, Nov. 15, 2005 - California
- Powerball: $314.9 million, Dec. 25, 2002 - West Virgina
- Powerball: $314.3 million, Aug. 25, 2007 - Indiana
- Powerball: $295.7 million, Jul. 29, 1998 - Indiana
For those keeping score, the number of jackpots in the top 25, by lottery game, are:
- Mega Millions: 10
- Powerball: 13
- 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 17th-largest cash value in U.S. history.
- 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: $370.9 million cash, May 18, 2013 ($590.5 million annuity) - Florida
- Mega Millions: $347.6 million cash, Dec. 17, 2013 ($648 million annuity) - California, Georgia
- Powerball: $258.2 million cash, Aug. 7, 2013 ($448.4 million annuity) - Minnesota, New Jersey (2)
- 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
- Powerball: $223.3 million cash, Sep. 18, 2013 ($399.4 million annuity) - South Carolina
- Mega Millions: $214 million cash, Aug. 28, 2009 ($336 million annuity) - California, New York
- Powerball: $211 million cash, Mar. 23, 2013 ($338.3 million annuity) - New Jersey
- Powerball: $210 million cash, Feb. 11, 2012 ($336.4 million annuity) - Rhode Island
- Mega Millions: $202.9 million cash, Mar. 25, 2011 ($319 million annuity) - New York
- Mega Millions: $194.4. million cash, Aug. 31, 2007 ($330 million annuity) - Maryland, New Jersey, Texas, Virginia
- Mega Millions: $194.1. million cash, Nov. 4, 2014 ($321 million annuity) - Preliminary estimate, not won yet
- Mega Millions: $185 million cash, Nov. 15, 2005 ($315 million annuity) - California
- The Big Game: $180 million cash, May 9, 2000 ($363 million annuity) - Illinois, Michigan
- Powerball: $177.3 million cash, Feb. 18, 2006 ($365 million annuity) - Nebraska
- Powerball: $170.5 million cash, Dec. 25, 2002 ($314.9 million annuity) - West Virginia
- Mega Millions: $168 million cash, July 2, 2004 ($294 million annuity) - Massachusetts
- Mega Millions: $167.7 million cash, Feb. 22, 2008 ($275 million annuity) - Georgia
- Powerball: $165.8 million cash, Aug. 25, 2001 ($295 million annuity) - Delaware, Kentucky, Minnesota, New Hampshire
- Mega Millions: $165.2 million cash, May 4, 2010 ($266 million annuity) - California
Yeah it's hot enough- time to take that baby out of the oven!
I think I will participate in this draw. Thanks in advance to everyone who contributed to my pending winfall
Going to be my first Mega Millions purchase of the year!
I'll be sure to send all the members of LP a post card from my new home in Saint Thomas when I win!
I will do my part and purchase a few tickets, dream until the drawing and then discard my losing tickets the following day. I will repeat the cycle if nobody wins the jackpot.
I like that the cash value is at about 60% of the annuity. Lately it's been a lot less than that. I'm loving all these numbers. High jackpot, high CV...and the holidays just around the corner.
Same. I can't even remember the last time I've played Powerball or Mega Millions. I think I might buy a couple of tickets for the next drawing.
election
Have you checked the number of registered members lately? It'll be a lot easier just posting a message at LP, besides you probably don't all their addresses.
Just send a check
Lol........When it gets to this amount, for some reason even though I bought tickets, when I check on my phone I hope nobody wins the jackpot including myself... lol. Maybe its a hope to win a record amount ??
keep it rolling!
You should hang on to those losing tickets just in case you win a later drawing and want to claim them as a deduction on your taxes.
Can't wait for this to keep rolling for a bigger jackpot around the end of the month but I will still throw in a dollar for this round. Also if I do win I will not be claiming it until after the holidays when everyone is fatter and calmer.
I respectfully disagree, why? For this singular reason. Should someone in California win....preferably me* -according to the California lottery it will take 6-8 weeks before l see that cheque. We talking close to Christmas here..nah, sorry..no way!
I spend between $200-$300 on lottery tickets per year so it won't bother me not to claim it if I won. If I was desperate for losing tickets I can always grab a bunch from the trash can at any lottery retailer.
If that is the case wouldn't it be wise to wait until 2015 to claim the prize for tax purposes? Paying the additional Federal taxes in 2016 would be better than paying in April of 2015.
Very good advice there, the less you can get away with giving to the greedy government, the better!
I'd rather pay the taxes in April of 2015 than April of 2016. You'll be paying 39.6% on any income over $413,000 either way.
Someone might say you could use the extra year to get some interest income but one year CD rates at the bank are so laughably low it isn't even worth it. Waiting the extra year also gives state politicians extra time to pass a new law to tax lottery winnings even more.
New Jersey just dodged a tax bullet recently: https://www.lotterypost.com/news/282151
I doubt this will be the last time a politician will propose a new law to tax lottery winnings more and next time the law might pass. It's not just NJ, most states would love the extra tax revenue. The last time NJ passed a new law to tax lottery winnings more was July 2009 and the tax was retroactive back to January 1 2009. So it didn't matter if you won before the law was passed, you'd still be taxed.
"N.J. Lottery goes from zero to highest tax rate in the USA"
https://www.lotterypost.com/news/196448
I'd pay the taxes as soon as possible and move to a tax friendly state or tax friendly jurisdiction.
Is it fall back yet? I'm on time when I arrive there in the U.S. for the big MM JP...lol
Thank You Marilyn222 for the sweet reminder about setting our clocks back one hour. Saturday night before bed.
YW...now let's win the MM JP!
I have my ticket
That's what I've always thought, but I've also wondered if the JP counts as income for the yr. when you claim it or when you won it? If it's the latter, then I guess Uncle Sam will want the rest of his cut in just a few months.
whiteballz: Someone might say you could use the extra year to get some interest income but one year CD rates at the bank are so laughably low it isn't even worth it. Waiting the extra year also gives state politicians extra time to pass a new law to tax lottery winnings even more.
I guess I'm one of those "someones". You're right about CD rates being laughably low, but I wouldn't agree w/ the "isn't even worth it" part. Let's say the CV was 100 million (for simplicity's sake). They'll take out 25%/25 million right away and you'll still have 14.6%/14.6 million to pay come tax time. In this scenario, you'd have approx. 15 months until you had to pony up the rest. Again, to simplify things, let's just call it a year (and also b/c of the CD term). 1-yr. jumbo CD rates are from 1-1.15% and once again, let's say 1% to simplify things. 1% of 14.6 million is 146,000 bucks. Since that figure will be added to the 14.6 million you'll owe, it too will be taxed at the highest rate, leaving you a little over 88k. I suppose when you're talking a hundred million, that's not much in the grand scheme of things, but it will buy you a nice BMW or put in towards that pool or gourmet kitchen in your new home or for the A/V system for the man cave in your basement...or you can invest it again, maybe in something more risky that pays a lot more. Even at .5% interest, it's still not chicken feed (unless you're like that chicken farmer who won a few months back and his winnings are going to allow him to keep his business)
I really hope this one can get all the way to 1 billion!
You can use cash or accrual accounting for income taxes
Interesting stats thanks! You think Mega Millions will beat its own jackpot record?
I agree
$321 Go Mega
Ohhhhhhhhhhhh GREAT..now I gotta wait an extra hour for the winning numbers to match my ticket numbers on Tuesday