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Feb 20, 2008, 2:41 am (60 comments)
The jackpot in the multi-state Mega Millions lottery game was increased to a whopping $270 million Wednesday, when all the tickets sold for the Tuesday night drawing failed to win the top prize.
A Mega Millions lottery ticket wins the jackpot by matching all five lotto numbers plus the Mega Ball. The next drawing will be Friday.
There were 15 second-prize winners from Tuesday night's drawing: 1 from California, 1 from Georgia, 1 from Maryland, 1 from Massachusetts, 2 from Michigan, 3 from New York, 1 from Ohio, 4 from Texas, and 1 from Washington. Each second prize ticket matched all five lotto numbers but not the Mega Ball number to win $250,000.
California Mega Millions winners receive different amounts, based upon the number of tickets sold and the number of winners in each prize category. California prize amounts for the Tuesday night drawing will be posted at the USA Mega web site after the amounts are announced by the California Lottery. (http://www.usamega.com/mega-millions-drawing.asp?d=2/19/2008)
Also, 85 tickets matched four of the five lotto numbers, plus the Mega Ball number. Those tickets are each worth $10,000.
The winning numbers from Tuesday's drawing were: 1, 38, 42, 55 and 56. The Mega Ball number was 34.
The Texas Megaplier was 4.
Lottery Post Staff
Well, it looks like it's time to go across the Columbia river and buy some MM tickets
Looks like I will have to make history and be the first Alaskan to win the Mega Millions!
me ->
<-s5thomps
I swear @ times thars a conspiracy to never let it hit in Virginia not even foe the smaller $250k and $10k prizes
Time for an Ohio winner again.
Actually, it would be neat to see an Alaskan win a huge jackpot.
That would be difficult, seeing as they don't even have a state lottery in Alaska, let alone Mega Millions!
270 million
Oops, I didn't know that.
it would be nice to see a 300mill jackpot this year
I would like to see a virginia winner as well..... as long as it was me.
That sure is alot of money,$270 Mil. I'd take the lump sum, maybe like 130 million after taxes and take 10 percent off the top for myself and invest the other 90% and just let it grow in a $billion$ within the next 10-15 years and live off the interest for the rest of my life. The 10%, $13 Mil, will be plenty to live off while the rest of the nest egg grows with compounding interest.
But knowing my luck, I'd only win a free ticket... sigh... it's nice to dream I guess.
<-- yawn ..ok,ok...I'm awake now... back to work... 'I owe, I owe and off to work I go..(whistles)'
The 270 is a lot of money. Here in Jersey its $123,000,000 after taxes. Since i already know its mine I plan on investing $100 mil, giving away about 10 to 13 mil, spending the other 10 mil on a nicer house and toys, and then just look for other investments as a full time job. Full time means when I am not on vacation most of the year.
Even invested in something reasonably safe like municipal bonds will give a return of 4.5 to 6.5 percent without taxes. thats 4.5 to 6.5 mil a year. plenty for me and the family.
Buy the way, I know I am winning this because I had two dreams this week. the first one I was given the 4th and 5th number along with the mega ball number. I woke up and thought "thats great, but what about the other 3 numbers?" That night I had another dream and was given the first three numbers. So now I have all 6 numbers and you know I will be playing them today!!!
'I owe, I owe and off to work I go..(whistles)'
Everyone loves a party! Especially me! woohoo
LOL
Muuust ...Wiiiiiin..the... Lottoooo...
Omniscient
Powerball is $100 million. What's that, chump change?
A few comments:
Todd, Lotto Guru that you are...
I have a question that you may or may not be able to answer for me. If three people contribute money to buy lottery tickets, can they split the winnings based on how much they contributed? For example, a friend contributes $2, my husband and I contribute $4 each to make a purchase of 10 dollars worth of tickets. Can we then split the winnings 20-40-40?
Thanks!
You can agree to split the prize any way you wish, but it must be in writing before the drawing.
If it's only verbal it will likely not hold up in court.
Thanks, Todd!!
Passing thru illinois,,,bought a 15 dollar dream(multi-draw)
on megamillions.
Wow! $270,000,000!! That's my lucky number!! How sweet is it that the Mega Millions just happens to be giving away MY LUCKY NUMBER?!! Ya'll might as well tear your numbers up now. I got it in the bag.....
Btw, the net of taxes figure on the Analysis page is only 25% FIT. How many of you really believe that the IRS is only going to take 25%? My guess is 35%, so plan on forking over a few more mill to the Feds.
One question for my Mega Millions tax planning....is lottery winnings subject to FICA/Medicare?
Todd, I have a friend in washington state who sends me multi-draws for the mega millions. So YES I do have a chance!
The 25% is accurate. You may owe additional federal income tax on April 15th, but that largely depends on how you use your money.
Some people get whipped into a frenzy at any suggestion that a jackpot winner may be able to lower their tax bill to a point that they don't owe all that much more on April 15.
Some jackpot winners will end up with a 34% total tax bill. Some will not. The creative ones (or the winners who hire creative managers) are usually the latter.
No, It's just that powerball hasn't been a very lucky game for me. Lately, I have been forced to buy tickets in KY and it has proven very useless for me. I play it all the time and would love to win that jackpot just as much as the other. I don't know what is the matter, but I haven't so much as got the powerball right in something close to a year. Well, Last summer I got some money. But nothing to crack open a bottle of champagne. (I would do that even for a few thousand dollars in winnings. But it's never happened on powerball or mega millions.)
Last night it rolled again and all I got was one number right on all of my tickets. No money. No surprise. I do way better with mega millions. For instance, I got 1+1 and 0+1 on several tickets for the last 220 million draw. Not much, I know, but it's winnings. So I tend to get more excited about that game.
I've invaded South Georgia(From Jax FL) to get my winning ticket, I was wondering when I win this on Friday night who want to PARTY LIKE A ROCKSTAR.... I am excited about this I can't wait drive to Savannah and claim my prize or should I form my Dream team before claiming it.. oh well I'll make that decision when I get there 25Feb08 .... will I be the first person on LP to win the JP 270 million wow I am Pump "Party like a Rockstar"
I would get things in order BEFORE going to collect the prize. There are lots of things to consider, are you giving anyone else money? if so, let them claim their portion so you don't get stuck with their taxes and they won't get stuck with an additional gift tax.
Where are you going to park the money? They are not going to give you that 3 foot long check and then expect you to cash it at the local bank drive-thru. Although that would be pretty cool rolling up in a Lamborghini and trying to fit a 3 foot long check for 270 million into the tiny tube so they could cash it. make sure to tell them "small bills please"
You need some advice on how to minimize that first years tax burden. paying taxes is required, but you should never overpay because you did not know some of the options for reducing your tax burden. Find a decent tax person or investment advisor.
If you win, plan on a little bit longer drive. Savannah has a lottery office, but jackpots can only be claimed at the lottery headquarters, in Atlanta.
No big deal if you win....right ?
I did some checking and you can claim at any Lottery district office in GA that designated on handling anything over 600.00 and savannah is about two hours vice fours to atlanta ....