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$266 MILLION: Mega Millions lottery jackpot raised again

Mega MillionsMega Millions: $266 MILLION: Mega Millions lottery jackpot raised again

Biggest jackpot in nine months

Lottery players across the United States are buying their Mega Millions tickets in preparation for Tuesday's massive $266 million drawing.

Even the cash value — the "holy grail" for many jackpot-watchers — stands at a staggering $165.2 million.

For comparison, the $258 million Powerball jackpot won by a store clerk in Missouri in April awarded a cash value of $124.9 million.

Tuesday's Mega Millions jackpot is the accumulation of 14 consecutive drawings without a top prize winner.  The current jackpot run-up started on March 16 as a $12 million grand prize.

Players should note that jackpot amounts are conservative estimates provided by the lotteries, and are often somewhat higher by the time the drawing occurs.

In the latest Mega Millions drawing that took place this past Friday night, there was no jackpot winner, but 12 lucky players matched the first 5 numbers for a $250,000 prize: 5 from California, 1 from Georgia, 1 from Illinois, 1 from New York, 1 from Ohio, 1 from Tennessee, 1 from Texas, and 1 from Virginia.

The five California winners will each be awarded prizes of $204,482, because California awards all prizes in a pari-mutuel formula, which calculates the prize amount based on the number of tickets sold and the number of winners in each prize category.  This often has the effect of making the prize higher than the other Mega Millions states, but in Friday's drawing, because an unusually large number of people won the second prize, the payout is lower then normal.

Following the Friday drawing, the Mega Millions annuity jackpot estimate was raised $42 million from its previous amount of $224 million. The cash value was raised by $27.1 million, from its previous amount of $138.1 million.

The next Mega Millions drawing will take place Tuesday evening at 11:00 pm EDT.

Mega Millions is currently offered for sale in 38 states, plus Washington, D.C. Two more Mega Millions states will be added in May.

  • Starting May 9, the 39th Mega Millions state, Maine, will be added, with its first eligible drawing taking place on Tue., May 11.
  • Starting May 16, the 40th Mega Millions state, South Dakota, will be added, with its first eligible drawing taking place on Tue., May 18.

For a complete set of game descriptions, results, history, and all questions regarding Mega Millions, lottery players are encouraged to visit USA Mega (www.usamega.com), a Web site that caters to the Unites States's two multi-state lottery games, Powerball and Mega Millions.

Lottery Post Staff

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28 comments. Last comment 7 years ago by ConstantlyB.
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Harbinger
D.C./MD.
United States
Member #44103
July 30, 2006
5583 Posts
Online
Posted: May 3, 2010, 9:11 am - IP Logged

I will spend a least 1 hr. to pick some lines!

Banana

    dpoly1's avatar - driver
    PA
    United States
    Member #66141
    October 16, 2008
    1672 Posts
    Offline
    Posted: May 3, 2010, 9:53 am - IP Logged

    I spent about 2 seconds on a $2 quick pick! Big Grin

    The only thing good about PA is that if you win the lottery ..... you don't have to pay state or local taxes on the winnings! Big Grin Santa

    I would try to make do with about $107 Million after Federal Tax! Cool

    I woud go to the lottery headquarters right away and they would get name and town ..... NO MOE!  There are a lot of places to hide until the publicity dies down.  It would die down faster with no coopertion with the media. My only quote would be "NO MORE WALMART!" for me. 

    I already have a financial plan .... all that I need now is some money to go with the plan .... Cool

    There have been winners from the area that I live in, and you don't hear much about them. I already live a very private life, and will continue to do so.

    The first Mega Millions Jackpot Winner in PA would mean Christmas in May! Noel

      bashley572's avatar - starwars14
      West Side of Sunny Florida
      United States
      Member #55048
      September 8, 2007
      3371 Posts
      Offline
      Posted: May 3, 2010, 10:10 am - IP Logged

      Thanks to a TRIP the the races this weekend I got tickets in Virgina, PA & my home state of NY... lets see which state I win the most in!!! Thumbs Up

      Money won is twice as good as money earned!

        RJOh's avatar - chipmunk
        mid-Ohio
        United States
        Member #9
        March 24, 2001
        19830 Posts
        Offline
        Posted: May 3, 2010, 2:05 pm - IP Logged

        Thanks to a TRIP the the races this weekend I got tickets in Virgina, PA & my home state of NY... lets see which state I win the most in!!! Thumbs Up

        I'm not traveling but I plan to buy tickets like I am traveling, so I should get similar results.Thumbs Up

         * you don't need to buy more tickets, just buy a winning ticket * 
           
                     Evil Looking       

          RJOh's avatar - chipmunk
          mid-Ohio
          United States
          Member #9
          March 24, 2001
          19830 Posts
          Offline
          Posted: May 3, 2010, 2:12 pm - IP Logged

          I will spend a least 1 hr. to pick some lines!

          Banana

          Even if you win nothing, you will have gotten an hour of enjoyment trying to pick a winner. Thumbs Up

           * you don't need to buy more tickets, just buy a winning ticket * 
             
                       Evil Looking       

            ThatScaryChick's avatar - x1MqPuM
            Idaho
            United States
            Member #56506
            November 21, 2007
            6537 Posts
            Offline
            Posted: May 3, 2010, 2:22 pm - IP Logged

            I will be getting a couple of lines also! Smile

            "No one remembers the person who almost climbed the mountain, only the person who eventually gets to the top."

              Avatar
              Chattanooga, TN
              United States
              Member #74194
              May 5, 2009
              74 Posts
              Offline
              Posted: May 3, 2010, 3:40 pm - IP Logged

              I would have to say that it is going to roll at least one more time... i say to about $312 million. I think it is time for a 300+ jackpot it is May and usually when the temperature rises so does the money if you look at the jackpot history on USAmega.com the winnings follow about the same pattern. i purchase tickets both in "Wonderful" Georgia and "Useless" Tennessee, so wish me luck as i do to everyone here on LP!!!! 

                Avatar
                New Member
                Florida
                United States
                Member #90732
                May 3, 2010
                12 Posts
                Offline
                Posted: May 3, 2010, 6:03 pm - IP Logged

                I was driving up to DC area from FL, and I kept on seeing billboards that advertised the $266million jackpot... I was able to resist buying in Georgia, but once I stopped for gas in NC, I couldnt resist. Since I play the lotto like twice a year, I decided to spend exactly $100 on QP.

                So hopefully with my 100 tickets (10 lines on each ticket) I can win one of this and do what I love for the rest of my life (I'm only 23).

                But with the odds being insurmountable (1 out of like 170,000,000), i probably wasted the $100 haha.

                  LotteryJunkiE99's avatar - Lottery-025.jpg

                  United States
                  Member #72647
                  March 23, 2009
                  63 Posts
                  Offline
                  Posted: May 3, 2010, 6:23 pm - IP Logged

                  I don't think it's insurmountable, its just about who's going to get to get to have it.   I think there's this one poster on this website with the panther avatar, i think dr65,?  who says its all about if it's going to be you that day or not, so that although it is good and important to increase your chances  i think its also about the universe being on your side, so that if its gonna happen, it will.

                   

                  Again I don't think it's destiny, but it is definitely about chance!!  and about at least giving yourself $1 worth of a chance.  Anyone reading this, I'm sure you can get 4 quarters togeter and give yourself a chance.  You never know!!!!    Approve

                   

                  There's more thrill in trying anyway, than actually winning, although....    C'MON BBIIIG MONEEEY .........WHOOO!!!!!  Jester Laugh

                   

                  oH AND DON'T Worry about looking silly just buying $1 worth of a ticket, if the clerk or whoever gives you a funny look, just smile and nod, and if they don't get that you're trying to give yourself a chance out there, then just know that they probably don't get how this wonderful world works.... still, if you're like me the next time you go in and remember their last smart look they gave you for buying a ticket, buy $1000 worth of tickets in cash and make them count them in front of you, while you sip a beer or two.   Lurking  Cheers   Eek    Hope some of you irksome, assuming, and impertinent clerks are reading this.  Cool

                  - ILOVETHELOTTERY Sun Smiley

                    Avatar

                    United States
                    Member #61232
                    May 16, 2008
                    126 Posts
                    Offline
                    Posted: May 3, 2010, 6:43 pm - IP Logged

                    I spent about 2 seconds on a $2 quick pick! Big Grin

                    The only thing good about PA is that if you win the lottery ..... you don't have to pay state or local taxes on the winnings! Big Grin Santa

                    I would try to make do with about $107 Million after Federal Tax! Cool

                    I woud go to the lottery headquarters right away and they would get name and town ..... NO MOE!  There are a lot of places to hide until the publicity dies down.  It would die down faster with no coopertion with the media. My only quote would be "NO MORE WALMART!" for me. 

                    I already have a financial plan .... all that I need now is some money to go with the plan .... Cool

                    There have been winners from the area that I live in, and you don't hear much about them. I already live a very private life, and will continue to do so.

                    The first Mega Millions Jackpot Winner in PA would mean Christmas in May! Noel

                    Don't forget your social security number.  Uncle Sam wants their share.

                      Avatar
                      California
                      United States
                      Member #80929
                      October 7, 2009
                      94 Posts
                      Offline
                      Posted: May 3, 2010, 8:20 pm - IP Logged

                      "I spent about 2 seconds on a $2 quick pick!  The only thing good about PA is that if you win the lottery ..... you don't have to pay state or local taxes on the winnings!"

                      That's about what I did, a few QP's.  As for no state tax, it's the same in California.

                      "I would try to make do with about $107 Million after Federal Tax!"

                      That's about right with a 35% tax.  However, there's also the federal "Alternative Minimum Tax" and I'm not sure how that works for such a high amount of income.  I'd have to call the IRS and find out.  Although asking the IRS such a hypothetical question would probably appear ludicrous.  Don't be surprised if the AMT adds up to a large amount for such a high jackpot.

                      "I woud go to the lottery headquarters right away and they would get name and town ..... NO MOE! There are a lot of places to hide until the publicity dies down. It would die down faster with no coopertion with the media. My only quote would be "NO MORE WALMART!" for me."

                      It's always good to wait 14 to 60 days while you see a lawyer and accountant.  There are always preparations to make when your life totally changes.  There was one major lotto winner who waited 5 months before collecting his winnings.

                      "I already have a financial plan .... all that I need now is some money to go with the plan ...."

                      It's good to see you already have made plans on all your new Mega winnings.  LOL.  Wink

                        Avatar
                        Massachusetts
                        United States
                        Member #78798
                        August 21, 2009
                        336 Posts
                        Offline
                        Posted: May 3, 2010, 11:29 pm - IP Logged

                        I have a 2 mega millions 1 year season tickets. If one of those win, they already know who I am because I sent in the registration.

                          wizeguy's avatar - animaniacs04

                          United States
                          Member #15143
                          May 10, 2005
                          414 Posts
                          Offline
                          Posted: May 3, 2010, 11:50 pm - IP Logged

                          I was driving up to DC area from FL, and I kept on seeing billboards that advertised the $266million jackpot... I was able to resist buying in Georgia, but once I stopped for gas in NC, I couldnt resist. Since I play the lotto like twice a year, I decided to spend exactly $100 on QP.

                          So hopefully with my 100 tickets (10 lines on each ticket) I can win one of this and do what I love for the rest of my life (I'm only 23).

                          But with the odds being insurmountable (1 out of like 170,000,000), i probably wasted the $100 haha.

                          Hi paulfund,

                          Welcome to Lottery Post and good luck to you and the other members here!

                            Grovel's avatar - f800e6a39fbfea795d1dcbb09f2244
                            Little Rock, AR
                            United States
                            Member #68365
                            December 19, 2008
                            241 Posts
                            Offline
                            Posted: May 4, 2010, 12:04 am - IP Logged

                            I'll go grab me some tickets tomorrow. Hopefully I will get lucky.