Jackpot surpasses previous mark held by January 2016 Powerball drawing
It's anybody's guess how high it will get
By Todd Northrop
A Mega Millions jackpot roll that had already made history has now reached a new world record for the biggest lottery jackpot ever.
After lottery officials worked into the early hours of the morning processing the hundreds of millions of lottery tickets sold for the Friday drawing, it was determined that there was no jackpot winner, propelling the new Mega Millions jackpot to a record $1.6 billion.
The big drawing will be held on Tuesday, Oct. 23, with an estimated cash option worth $904.9 million.
At $1.6 billion, Tuesday's Mega Millions drawing slipped past the $1.586 billion Powerball drawing on January 13, 2016, to become the largest lottery jackpot in history. Winners in California, Florida, and Tennessee shared the record Powerball prize.
"Mega Millions has already entered historic territory, but it's truly astounding to think that now the jackpot has reached an all-time world record," said Gordon Medenica, Lead Director of the Mega Millions Group and Director of Maryland Lottery and Gaming. "It's hard to overstate how exciting this is — but now it's really getting fun."
Lottery players wondering what all the cash will look like in their bank account after the initial federal and state tax withholdings can see an after-tax analysis of the current Mega Millions jackpot by visiting USA Mega's Jackpot Analysis page.
The previous record Mega Millions jackpot was $656 million, which was shared by winners in Kansas, Illinois, and Maryland in the drawing on March 30, 2012.
The last Mega Millions jackpot hit was in the drawing held July 24, 2018, when a group of 11 co-workers in California shared a $543 million prize. There have been 25 drawings without a jackpot winner since then, but there have been more than 34.4 million winning tickets sold across the game's nine prize levels.
The winning numbers for the October 19 drawing were: 15, 23, 53, 65, and 70, with Mega Ball number 7. The Megaplier was 2.
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.
The quickest way to find the winning numbers after the drawing Friday will be by visiting USA Mega (www.usamega.com) at 11:00 pm Eastern Time (8:00 pm Pacific), when the winning numbers will be published live as they are drawn.
Reports of long lines and near pandemonium at lottery retailers were rampant leading up to the Friday drawing. To help avoid that problem for the Tuesday drawing, lottery players are urged to download the free Lottery Places app (for iPhone, Android, and Windows). Lottery Places is the only app available that can locate lottery retailers in every state and jurisdiction throughout the United States, and can even locate retailers across state lines.
Michigan lottery players can bypass the store completely and buy their Mega Millions lottery tickets online. Players outside the USA can use a reputable butler service, which provides scanned copies of the purchased lottery tickets securely held on behalf of the customer.
Whatever you do, don't wait. Lottery officials stress the importance of not waiting until the last minute to buy lottery tickets for this historic jackpot.
In the Friday Mega Millions drawing, although there was no jackpot winner, 15 lucky players matched the first 5 numbers for a $1,000,000 prize: 1 from California, 1 from Florida, 2 from Illinois, 1 from Missouri, 1 from New Hampshire, 1 from New Jersey, 4 from New York, 2 from Texas, and 2 from Virginia.
The California second-prize winner will be awarded a whopping $3,404,526 instead of the fixed $1 million prize awarded in the other states, due to the state's pari-mutuel prize payouts. 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 within California and the number of tickets that won at each prize level in the state. This drawing the pari-mutuel prize calculation meant a much larger prize than normal, as one winner took the entire second-prize pool.
Only one of the second-prize tickets sold in Texas was purchased with the Megaplier option for an extra $1 per play, doubling the prize to $2 million since the Megaplier 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.
Also, a total of 289 tickets matched four of the first five numbers plus the Mega Ball to win a $10,000 prize. Of those tickets, 35 were purchased with the Megaplier option, increasing the prize to $20,000, and 44 were sold in California, where the prize awarded this drawing is $10,719.
Following the Friday drawing, the Mega Millions annuity jackpot estimate was raised $600 million from its previous amount of $1 billion. The cash value was raised by $339.3 million from its previous amount of $565.6 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 $2 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 largest lottery jackpot in world history. Undoubtedly record numbers of lottery tickets will be sold this weekend, possibly sending the jackpot even higher by draw time.
- Mega Millions: $1.6 billion, Oct. 23, 2018 - Preliminary estimate, not won yet
- Powerball: $1.5864 billion, Jan. 13, 2016 - California, Florida, Tennessee
- Powerball: $758.7 million, Aug. 23, 2017 - Massachusetts
- Mega Millions: $656 million, Mar. 30, 2012 - Illinois, Kansas, Maryland
- Mega Millions: $636 million, Dec. 17, 2013 - California, Georgia
- Powerball: $590.5 million, May 18, 2013 - Florida
- Powerball: $587.5 million, Nov. 28, 2012 - Arizona, Missouri
- Powerball: $564.1 million, Feb. 11, 2015 - North Carolina, Puerto Rico, Texas
- Powerball: $559.7 million, Jan. 6, 2018 - New Hampshire
- Mega Millions: $543 million, Jul. 24, 2018 - California
- Mega Millions: $536 million, Jul. 8, 2016 - Indiana
- Mega Millions: $533 million, Mar. 30, 2018 - New Jersey
- Powerball: $487 million, Jul. 30, 2016 - New Hampshire
- Powerball: $470 million, Oct. 20, 2018 - Preliminary estimate, not won yet
- Powerball: $456.7 million, Mar. 17, 2018 - Pennsylvania
- Mega Millions: $451 million, Jan. 5, 2018 - Florida
- Powerball: $448.4 million, Aug. 7, 2013 - Minnesota, New Jersey (2)
- Powerball: $447.8 million, Jun. 10, 2017 - California
- Powerball: $435.3 million, Feb. 22, 2017 - Indiana
- Powerball: $429.6 million, May 7, 2016 - New Jersey
- Powerball: $425.3 million, Feb. 19, 2014 - California
- Powerball: $420.9 million, Nov. 26, 2016 - Tennessee
- Mega Millions: $414 million, Mar. 18, 2014 - Florida, Maryland
- Powerball: $399.4 million, Sep. 18, 2013 - South Carolina
- Mega Millions: $393 million, Aug. 11, 2017 - Illinois
For those keeping score, the number of jackpots in the top 25, by lottery game, are:
- Powerball: 15
- Mega Millions: 10
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 2nd-largest cash value in world history.
- Powerball: $983.5 million cash, Jan. 13, 2016 ($1.5864 billion annuity) - California, Florida, Tennessee
- Mega Millions: $904.9 million cash, Oct. 23, 2018 ($1.6 billion annuity) - Preliminary estimate, not won yet
- Powerball: $480.5 million cash, Aug. 23, 2017 ($758.7 million annuity) - Massachusetts
- 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: $381.1 million cash, Feb. 11, 2015 ($564.1 million annuity) - North Carolina, Puerto Rico, Texas
- Mega Millions: $378 million cash, Jul. 8, 2016 ($536 million annuity) - Indiana
- Powerball: $370.9 million cash, May 18, 2013 ($590.5 million annuity) - Florida
- Powerball: $352 million cash, Jan. 6, 2018 ($559.7 million annuity) - New Hampshire
- Mega Millions: $347.6 million cash, Dec. 17, 2013 ($636 million annuity) - California, Georgia
- Powerball: $336.8 million cash, Jul. 30, 2016 ($487 million annuity) - New Hampshire
- Mega Millions: $324 million cash, Mar. 30, 2018 ($533 million annuity) - New Jersey
- Mega Millions: $320.5 million cash, Jul. 24, 2018 ($543 million annuity) - California
- Powerball: $284 million cash, May 7, 2016 ($429.6 million annuity) - New Jersey
- Mega Millions: $281.9 million cash, Jan. 5, 2018 ($451 million annuity) - Florida
- Powerball: $279.1 million cash, Jun. 10, 2017 ($447.8 million annuity) - California
- Powerball: $273.9 million cash, Mar. 17, 2018 ($456.7 million annuity) - Pennsylvania
- Powerball: $268.6 million cash, Oct. 20, 2018 ($430 million annuity) - Preliminary estimate, not won yet
- Powerball: $263.5 million cash, Feb. 22, 2017 ($435.3 million annuity) - Indiana
- Powerball: $258.2 million cash, Aug. 7, 2013 ($448.4 million annuity) - Minnesota, New Jersey (2)
- Powerball: $254.7 million cash, Nov. 26, 2016 ($420.9 million annuity) - Tennessee
- Mega Millions: $246.5 million cash, Aug. 11, 2017 ($393 million annuity) - Illinois
- 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
The number of jackpot cash values in the top 25, by lottery game, are:
- Powerball: 14
- Mega Millions: 11
What???
I remember, being a member here at LP since 2005, when it was a big deal when Jackpots crossed the $300 million threshold, and the dream of watching the Jackpots ever reaching $400 million was looked at as dreaming over the top. Just the thought that we are on the brink of a Jackpot potentially reaching $2 BILLION now, is mind blowing. Simply mind blowing. I'm ALL IN. Let's do this!
I wonder how much it is going to roll just today.
$904.9 MILLION CASH ................(minus applicable 37% fed taxes,of course)...................
$570,087,000. Take home
I believe PB if not won tonight, will shoot up to at least $600mil.
People will probably be begging, borrowing, and stealing to get their hands on this.
I wonder how the economy will hold up since the holiday season is just around the corner.
That definitely isn't chump change!
Just think: 1 person/904 Million.....That's almost in the DNA test results range of certain elected officials astronomical
Lol. Lol And if you noted, the average American has better "odds" than that number!
If it rolls PB will be $620M/$354.3M tomorrow morning.
I was just looking at the jackpot list and realized if PB rolls tonight we could have 2 top five jackpots of all time being drawn next week!
Never say Never. A single ticket owned by a single person could win this jackpot.
Then again a record-breaking pool could win it.
A record number of tickets could do the job as well.
MM is an equal opportunity game.
Mega Millions rolls to a new annuity record but still has to get about $75 million in cash some were to beat powerball from 2016. I think mega can do it.-weshar75
Well. That just happened... Next stop: $2,000,000,000, arriving Tuesday night!
Is it likely there will be no winners Tuesday?
No. But, then again, it wasn't very likely last night. There will be 3x the ticket sales for Tuesday, though.
When some one in the USA wins this jackpot I think their will be happy people too because we can stop spending on this jackpot run.-weshar75
Bwahaha! (I mean, yes... Yes it is astronomical!) ;)
This is just stupid amount of money and it will grow. I will say 2B by next draw.
I will play my usual 3 lines.
Let me win so our generations and generations can live without worrying about money.
Hello Rolls Royce!!!
Now would be the time to do like that guy did, get his organisation in tact from all over the US and buy, buy ,buy !!
This group of people would have to be well trusted. 25 mega balls, 7 people assigned to 3 mega balls per , one person would have 4. They got 4 days to play all the pre-made slips. It's possible.
https://www.avbuyer.com/aircraft/private-jets/gulfstream/g450/354044
I prefer the Bombardier Global 7500. More leg room.
$1.6 billion? Reassessing my dream farm size. May add steer for freezer beef to creature purchasing.
So 1.77 bil to get 1 bil cash. I honestly hope like 10 people win this and end up walking away with ~60mil after taxes. Spread the wealth!
But then again, Gulfstream is an American made product... So, I'd probably go with them. (Decisions, decisions...)
Many many generations for sure. If I ever won that kind of cash I would add to the family by adopting 3 or 4 kids who’s descendents would hopefully work for the betterment of humanity.
Wagyu
MM went from $667 Mil to $1 Bil in 3 days. So, I'm sure it will go from $1.6 Mil to above $2 Bil in 4 days.
Tried to buy tickets this a.m. at two places, but the computers are down in dear old Cali.
One or two people didn't believe me. I told some no one would hit last night. I predict three winning tickets actually. Since you have two teams projected world series New England area a winning ticket, Ca a winning ticket and I think Florida. Take a look at the 23'rd for any history.
To state the obvious: That's a lot of Doh-Ray-Me! Without hurting the principal (never spending a dime of the $500M+ after tax CV), this thing would throw off more than $1,000,000 per month in dividend income, after taxes, just with boring old safe investments. Meanwhile the principal will grow and grow and grow...
Move over Kylie Jenner, I’ll be a billionaire real soon!
If I win, I will look into not your typical beef cattle. redo my list. Again!!!!
If you win this monster Tuesday night, would you have to make educated guess on lawyer you hire or go with one you already know/have?
I got up this morning and emailed this to my kids:
10/20/2018
About the Mega millions Jackpot:
Don’t go crazy buying tickets. If you are like most people, you love to dream of winning the big one. It only takes buying one ticket to allow you to dream about what you would do with that kind of money. So, go ahead and buy one so you can get excited for a couple days. Even if you buy two, and, yes it does double your odds of winning, the chances of you winning are still pretty bad. Unless you pick the same numbers, only one ticket you have is going to win, if you do beat the odds.
What if you do win? First off, take a picture of it and put it away in a safe place. I assume you will consider sharing the win with relatives and possibly more, including a charity. If you claim the prize for yourself and then distribute the money, you will be paying the full amount of taxes plus any amount you give to someone else will be taxed as a gift.
The official lotteries of some states tell you to sign the back of it immediately. That is to keep someone from stealing it and cashing it in for themselves. That may be true, but if you want to maintain anonymity, it may not be a good idea to sign it right away, depending on what state you are in. I have heard in Maryland, for example that, once you sign the ticket, the name on the ticket cannot remain anonymous. Plus, you might be giving up the opportunity to distribute the winnings before taxes, allowing each individual you want to share it with to determine how they will deal with the windfall. So, take the picture of it in case someone does manage to steal it and tries to cash it in, so you can report the theft and have a chance to recover it.
Get a lawyer or a CPA to set up a trust with a unique name to put on the back of the slip. Have that representative contact the lottery HQ in the state you are in, on your behalf, to see what is necessary to maintain your anonymity. Few lawyers or CPAs have been in this situation, so they may have to look into the ways and means of dealing with this issue.
$1.6B is a huge amount of money that can help relatives and heirs for many years into the future. Maybe even forever if handled right. People can burn through it pretty fast if they are not careful. Consider your age and what you could do with a portion of the money in your lifespan that remains, as well as the people you would share it with in their life that remains. With this size of a jackpot, I would first figure out how much to allot to each of my kids on a percentage basis. Since I am already retired, I won’t need a whole lot for us to live very comfortably for the rest of our lives, so a bigger percentage would go for our kids and grandkids and future generations. I would take steps to ensure that this large sum would be around for many generations to follow, by giving out lump sums first, so people can exercise their dreams, but the biggest share of the money, I would put into trusts that would continue to grow, while paying out a portion of earnings on a regular basis, so all my descendants would be comfortable for as long as I could possibly live and for many years after that.
Anyway, this is some of the stuff I dream about and think about how I would deal with it if I would get so lucky. Just wanted you all to know that you are all in my dreams.
(Cruzincat)
Yup.
That's my plan.
Set up Family Office let them take care of everything at low risk investments 3-5% max. Have them hire couple of family assistants. So if someone in our family wants Michelin 3 star dinner in Paris with a view next Saturday, they make it happen. Wants a Luxurious Caribbean getaway, done.
I am still young enough at 40s and my wife at early 30s, have another child or two. Adapt few more and share wealth, do charitable stuff.
Ah--- . Stupid amount of money but that would be great life. I look over Family office during the day and have a lot of time off...
I'd go through my trust attorneys, but have them work with Jason Kurland. He's a well known lottery lawyer, has represented several huge winners in the past.
Uh Oh!
Imagine winning both the Powerball and MM. If someone were that lucky
Well.....I didn't win either, so no calling out RICH from work for me.
Conversation would go something like this......
Me: Hello boss, I'm calling out RICH.
Boss: What? You're SICK?
Me: No! I'M RICH, not sick! Stinking freakin' RICH!
Wouldn't it be a wise move to take the annuity? I mean,we are talking about a $700 mill difference here which by itself is astronomical. The first cheque itself would set you up for many years,so why bother about getting the cash option?
$2,000,000,000.00+
by Tuesday
now we can think about playing
thanks for pumping it up for us
I didn't stand in line for the last drawing & I won't stand in line for Tuesday's drawing!
I have my tickets!
Good luck to all LP Members!
How high will it go!
If I win I will stand for Truth, Justice & The Curmudgeon Way!
There are risks either way. I would be tempted to go for the annuity but would probably go for the lump sum.
Holy Bazinga Batman, THIS is some life changing amount of money! As if $1,000,000,000.00 wasn't. LOL
This sucker might even be $1.8 before the day is over?!?!
If you took the annuity and then developed residency in Puerto Rico or Saipan, would you still have to pay federal taxes?
.
Precisely Robbin
New crime computers for the Batcave . . .
New Batmobiles . . .
I would not want to depend on any one who has to keep up with that amount of money year after year...
Somebody has to keep up with your current address, would you want a check for $20,000,000 or whatever just sitting at the post office? Hell no, stuff gets lost to...(Envelopes) give me the cash now, it’s not worth the hassle...
They can wire the money, but yea...show me the money. Sadly I do not have enough total faith in our gubbmint to let them dole out the money over many years. I also believe I can grow it faster.
I agree it would be wise. But large amounts of money make some people think they are smarter than they really are.
Good luck everybody, got a good feeling.
Just think: The odds of NO ONE winning Tuesday's jackpot will probably be about the same as the odds of SOMEONE winning the $40M jackpot, but sometimes, rarely, but sometimes someone does win that 1st jackpot... So what if?
.
Kyle, please re-consider that decision. If something gets lost or mis-sorted at the post office, the check, should be direct-deposited, anyway, to your account.
But the annuity could be a viable option. (I'm still thinking like a poor person, which is what I am.).
I could set up donation investment accounts, for things like Wounded Warriors to St. Jude's.
The Jackpot Analysis "Cash" State payout net , is that right, this that the true amount ?
I am 100% ready to win the Mega Millions !!!
Along with my solid plans !!!
I think at this point I’d do the annuity. The idea of getting paid pretty big $ steady every year sounds nice.
Annuity. Remember inflation and taxes. They could both go up and up for over thirty years.
I would talk to prospective money managers, CFPs Certified Financial Planners, and other Financial Advisers.
i knew you no one would hit last night am glad i only played two tickets... i saw people buying 100.00 and up on tickets last night.. the guy at the seven Eleven was so tired saying the machine was constant printing tickets... it will be 2B BY Tuesday..
Its like you signed a top-level NBA contract for 30 years. Westbrook makes 41 mil a year and his contract is for five years. I would still take the lump sum for many reasons, including estate taxes.
I agree with your concern about estate taxes. A good Trust & Estate Attorney could fill you in on all the ways to look at the annuity.
You will have plenty of cash to pay for all the advice you need.
^ I have been checking out Wealth Management firms, many seem to offer legal advice and trust creation services.
57% of all combinations were covered yesterday! 43% chance it rolled, and that it did! I think Tuesday's drawing will have 85-90% of all combinations covered!
Here in California, it is recommended that you create a Trust instead of a Will. I will create a Living Revocable Trust. A Last Will and Testament has to go through Probate. That is expensive and time-consuming.
There is a YouTube video titled, Mrs. Trust and Mrs. Will It compares the two.
Legal advice may include asset protection services. You could become a target of frivolous lawsuits.
Enjoy your billions!
Usually only get 1 ticket but I just got 5 for this historic event.
Like the Rapper Biggie says, "Mo money, Mo problems"
15 lines + megaplier check!
I'm shocked nobody won last night! I figure this thing will either go to 2 billion, people will cut back on playing, or people will stop playing in protest. I know that some people have won with the current odds, however, some may think you just can't win anymore and stop playing. Some may think the greed is ridiculous. As for myself, I'm cutting back and only playing 1 line for every 300 hundred million until I win. I figure this thing will at least go to 1.8 billion. So, I am only buying six lines unless I can get in a lottery pool.
A SFO for a low to mid level centimillionaire is an unnecessary waste of money. A MFO is a better option for a small family without a large yearly income stream from a secondary source. Because if you put $500,000,000 million under management, you'd have to shell out at least $5 million every year for a SFO.
There are many boutique firms that do nothing but cater to the whims of the rich 24/7 so that even a MFO would be unnecessary. Have one of them handle things on the personal side of things, then hire a tax lawyer and CFA used to managing high net worth clients to handle things on the financial side, and you're set. Doing it that way wouldn't cost anywhere near $5M/year
The store where I purchase my tickets has two lottery terminals and both were being used this morning!
I got my tickets from the secondary terminal and I am hoping for a change of luck!
There's still a chance for Christmas in October!
My financial plan is in place and ready to be implemented.
You forgot about Powerball.
I wouldn't be surprised if someone started a lotto hedge fund.
Interesting artcle: https://www.nerdwallet.com/blog/investing/dear-powerball-winner-make-no-sudden-moves-until-you-read-this/