By Todd Northrop
Lottery players across the United States will be lining up at lottery retailers for their chance to win Friday's massive $415 million Mega Millions jackpot, after nobody won Tuesday's $390 million grand prize.
The cash value stands at a staggering $286.4 million.
With the new Friday jackpot, both the annuity jackpot and lump-sum cash value are now in the top 10 United States lottery jackpots of all time. The annuity and cash values are also the third-largest Mega Millions prizes ever seen. (See full top-25 list below.)
Friday's Mega Millions jackpot is the accumulation of an unprecedented 32 consecutive drawings without a top prize winner. The current jackpot run-up started on March 11 as a $15 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 Tuesday night, there was no jackpot winner, but 2 lucky players matched the first 5 numbers for a $1,000,000 prize: 1 from New Jersey and 1 from Texas.
Neither 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 doubled 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.
A total of 99 tickets matched four of the first five numbers plus the Mega Ball to win a $5,000 prize. Of those tickets, 9 were purchased with the Megaplier option, increasing the prize to $10,000, and 13 were sold in California, where the prize awarded this drawing is $4,417.
The Mega Millions winning numbers for Tuesday, June 28, 2016, were 15, 17, 20, 35, and 55, with Mega Ball number 7. The Megaplier number was 2.
Following the Tuesday drawing, the Mega Millions annuity jackpot estimate was raised $25 million from its previous amount of $390 million. The cash value was raised by $21 million, from its previous amount of $265.4 million.
The near-parity of jackpot increase between the annuity and cash values points to low interest rates driven by the poor economy being a major culprit behind the slow increase of the annuity jackpot seen in the current run-up. Three years ago, when Mega Millions was rising quickly every drawing, interest rates were ensuring an annuity increase of around 75% more than the cash value increase. Today, it's less than 20%.
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
Friday's Mega Millions jackpot currently stands as the 10th-largest lottery jackpot of all time in the United States. That position may rise before the drawing Friday night, as lotteries are typically conservative in their initial estimates, and brisk sales may push the jackpot estimate higher by draw time.
- Powerball: $1.5864 billion, Jan. 13, 2016 - California, Florida, Tennessee
- 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: $448.4 million, Aug. 7, 2013 - Minnesota, New Jersey (2)
- Powerball: $429.6 million, May 7, 2016 - New Jersey
- Powerball: $425.3 million, Feb. 19, 2014 - California
- Mega Millions: $415 million, Jul. 1, 2016 - Preliminary estimate, not won yet
- 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 - New York
- Mega Millions: $319 million, Mar. 25, 2011 - New York
For those keeping score, the number of jackpots in the top 25, by lottery game, are:
- Powerball: 13
- Mega Millions: 10
- 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 7th-largest cash value in U.S. history.
- Powerball: $983.5 million cash, Jan. 13, 2016 ($1.5864 billion annuity) - California, Florida, Tennessee
- 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
- Powerball: $370.9 million cash, May 18, 2013 ($590.5 million annuity) - Florida
- Mega Millions: $347.6 million cash, Dec. 17, 2013 ($636 million annuity) - California, Georgia
- Mega Millions: $286.4 million cash, Jul. 1, 2016 ($415 million annuity) - Preliminary estimate, not won yet
- Powerball: $284 million cash, May 7, 2016 ($429.6 million annuity) - New Jersey
- 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: $197.5 million cash, Nov. 4, 2014 ($321 million annuity) - New York
- Powerball: $197.4 million cash, Sep. 30, 2015 ($310.5 million annuity) - Michigan
- Mega Millions: $194.4 million cash, Aug. 31, 2007 ($330 million annuity) - Maryland, New Jersey, Texas, Virginia
- Powerball: $191.9 million cash, Mar. 2, 2016 ($291.4 million annuity) - Florida
- 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
The number of cash value jackpots in the top 25, by lottery game, are:
- Powerball: 13
- Mega Millions: 11
- The Big Game: 1
NOW the frenzy will begin at last.
It will not be won until ALL 258,890,850 number combinations are sold. Bank on it!
That's funny JJ...
I might be wrong but I'm pretty sure not even the billion dollar Powerball got that many combo's sold. They said on the news at the time that only 83% of PB's 292M combo's were used.
l did say that the winner/ winners would be close to a body of water- in this particular situation 2nd place finishing applies as well. NJ & TX.
** Now if only I can get my numbers to gel.
UMMM.... The Texas winner is nowhere close to any body of water. The ticket was purchased in the western part of the state, far from the Gulf of Mexico.
In order to get a frenzy, it needs to be covered by the news and other media. It isn't being covered and thus it won't get many occasional players attention.
I hope to be the sole winner here in California. $172,988,270.00 will be the amount I will end up with after the deduction and all taxes are paid by tax day in April, 2017.
Lump Sum all the way because of what Todd wrote about interest rates being so low.
I am confident that my discount stock brokerage will teach me how to trade stocks successfully.
The winners' life will change suddenly and a lot of past winners were not ready to win.
I will not forget where I came from. LP included.
l called it and you know it. When l write " the winner/ winners will be close to a body of water" l mean that the winner resides in the State that is close to the Ocean. Btw- how do you know if there is not a healthy spring or lake close to where the ticket was purchased? See?
There is a lake near the Big Bend National Park in Texas.
I looked on the Texas lottery website and it said the town it was purchased in. I wikipedia'd it, The town was named after a hot spring nearby that has since dried up.
Texas was an independent country before becoming a State. It has a lot of history. Texans are a proud people. The early twentieth Century in Texas is interesting.
l am all for giving Brownie Points- but you not going to get any, at least not from me.My original statement stands." Winner from a State bordering the Ocean." It's not that complicated earthling.
I didn't Ace kindergarten for nothing.
I agree. I had read that anywhere from 82-86% of PB combinations were sold for the $1.6 billion drawing. Even with a buying frenzy pushing a $5 billion jackpot, i highly doubt that every single combination would be sold- it may reach 97-99%.
That simply proves how much clout the news media has on anything they report whether it's true or not.
Your original statement was that the WINNER would be CLOSE to a BODY of WATER. That is simply incorrect. The winner is further from the gulf than Las Vegas is to the Pacific. You have failed basic math, return to kindergarten.
"The cash value stands at a staggering $286.4 million."
Why so low
Between under 18 and people who won't buy a ticket, only about 20% of the population would buy atleast one combo, and most would only buy 1 or 2 tickets. 60M buyers, most buying 1 or 2, can't possibly cover 99% of 292M combo's.
The cash value percentage wise is actually high when compared to most previous jackpots.
OK, thanks for the info. I feel better now.
If the jackpot were to reach anywhere close to $5 billion- odds would be pretty good that over 80-90% of the US. adult population would participate. Even my husband who frowns on playing the lottery would purchasd a ticket.
Why not revisit the news topic prior to last night's drawing of " 390 million jackpot tonight " and read aloud or to yourself my opening statement to Illinoisdreamer!
** You have been checkmated.
Well, we'll never have closure because if we are being ral nit picky here, the winner might well live next to a lake.
You're welcome. Some past jackpots actually had cash value ratios of less than 50% of the annuity. This current jackpot cash value is 69% of the advertised annuity.
Is that due to the current investment options of MUSL? That's never quite clear to me. It shouldn't, because cash isn't invested
Good luck to anyone who is in it to win it. Gonna be a looong week end for a winner, what with the 4th coming up and lots of alcohol coming down.
The cash value is high because jackpot annuities are invested in safe government bonds which yields very little. With the current cash value ratio most financial experts I have spoken with would opt for the upfront cash. Personally even if the cash value was less than 50% I would still take the cash instead of the structured annuity which pays the bulk of the payments towards the end.
I'm in! And I'm in Texas near a large body of water, the Gulf Coast! Wooooo!!!!
$415 That's Mega Million
Good Luck everyone