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$508 MILLION: Mega jackpot to spark ticket-buying frenzy

Mega MillionsMega Millions: $508 MILLION: Mega jackpot to spark ticket-buying frenzy
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Half-billion jackpot is 7th-largest of all time

By Todd Northrop

July 4th is behind us, but some lucky person still has their Independence Day ahead of them — independence from financial burdens, that is.

After an unprecedented 34 drawings without a jackpot winner, the multi-state Mega Millions lottery game now boasts a swelling jackpot of more than a half-billion dollars that could instantly put someone among the wealthiest people on the planet.

After nobody won Tuesday night's grand prize, the Mega Millions jackpot grew to an estimated $508 million — the largest since a $636 million jackpot was split by two tickets on Dec. 17, 2013. The two halves of that jackpot were claimed by Ira Curry of Stone Mountain, Georgia, and Steve Tran of Northern California.

Friday's $508 million Mega Millions jackpot is the 3rd-largest in the game's history, and the 7th-largest United States lottery jackpot of all time (see full list below).

The lump-sum cash value of $357.7 million is also the 6th-largest on the all-time US lottery jackpot cash value list.

The current jackpot run-up started on March 11 as a $15 million grand prize — it has been 4 months since Mega Millions has had a jackpot winner.

Lottery players wondering what all the cash will look like in their bank account after federal and state taxes are taken out can see an after-tax analysis of the current Mega Millions jackpot by visiting USA Mega's Jackpot Analysis page.

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.

In Tuesday night's Mega Millions drawing, there was no jackpot winner, but 7 lucky players matched the first 5 numbers for a $1,000,000 prize: 1 from California, 1 from Florida, 1 from New Jersey, 1 from Ohio, 1 from Oklahoma, 1 from Pennsylvania, and 1 from Texas.

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 a whopping $5 million, because the Megaplier number drawn was 5.

The lucky California second-prize winner will be awarded an extra-sweet $2,333,142. 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 and the number of tickets that won at each prize level. This drawing that prize calculation paid off big-time.

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 139 tickets matched four of the first five numbers plus the Mega Ball to win a $5,000 prize. Of those tickets, 13 were purchased with the Megaplier option, increasing the prize to $25,000, and 19 were sold in California, where the prize awarded this drawing is $5,606.

The Mega Millions winning numbers for Tuesday, July 5, 2016, were 29, 46, 53, 64, and 73, with Mega Ball number 10. The Megaplier number was 5.

Following the Tuesday drawing, the Mega Millions annuity jackpot estimate was raised $54 million from its previous amount of $454 million. The cash value was raised by $38.7 million from its previous amount of $319 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

Friday's Mega Millions jackpot currently stands as the 7th-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.

  1. Powerball: $1.5864 billion, Jan. 13, 2016 - California, Florida, Tennessee
  2. Mega Millions: $656 million, Mar. 30, 2012 - Illinois, Kansas, Maryland
  3. Mega Millions: $636 million, Dec. 17, 2013 - California, Georgia
  4. Powerball: $590.5 million, May 18, 2013 - Florida
  5. Powerball: $587.5 million, Nov. 28, 2012 - Arizona, Missouri
  6. Powerball: $564.1 million, Feb. 7, 2015 - North Carolina, Puerto Rico, Texas
  7. Mega Millions: $508 million, Jul. 8, 2016 - Preliminary estimate, not won yet
  8. Powerball: $448.4 million, Aug. 7, 2013 - Minnesota, New Jersey (2)
  9. Powerball: $429.6 million, May 7, 2016 - New Jersey
  10. Powerball: $425.3 million, Feb. 19, 2014 - California
  11. Mega Millions: $414 million, Mar. 18, 2014 - Florida, Maryland
  12. Powerball: $399.4 million, Sep. 18, 2013 - South Carolina
  13. Mega Millions: $390 million, Mar. 6, 2007 - Georgia, New Jersey
  14. Mega Millions: $380 million, Jan. 4, 2011 - Idaho, Washington
  15. Powerball: $365 million, Feb. 18, 2006 - Nebraska
  16. The Big Game: $363 million, May 9, 2000 - Illinois, Michigan
  17. Powerball: $340 million, Oct. 19, 2005 - Oregon
  18. Powerball: $338.3 million, Mar. 23, 2013 - New Jersey
  19. Powerball: $337 million, Aug. 15, 2012 - Michigan
  20. Powerball: $336.4 million, Feb. 11, 2012 - Rhode Island
  21. Mega Millions: $336 million, Aug. 28, 2009 - California, New York
  22. The Big Game: $331 million, Apr. 16, 2002 - Georgia, Illinois, New Jersey
  23. Mega Millions: $330 million, Aug. 31, 2007 - Maryland, New Jersey, Texas, Virginia
  24. Mega Millions: $321 million, Nov. 4, 2014 - New York
  25. 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 6th-largest cash value in U.S. history.

  1. Powerball: $983.5 million cash, Jan. 13, 2016 ($1.5864 billion annuity) - California, Florida, Tennessee
  2. Mega Millions: $471 million cash, Mar. 30, 2012 ($656 million annuity) - Illinois, Kansas, Maryland
  3. Powerball: $384.7 million cash, Nov. 28, 2012 ($587.5 million annuity) - Arizona, Missouri
  4. Powerball: $381.1 million cash, Feb. 7, 2015 ($564.1 million annuity) - North Carolina, Puerto Rico, Texas
  5. Powerball: $370.9 million cash, May 18, 2013 ($590.5 million annuity) - Florida
  6. Mega Millions: $357.7 million cash, Jul. 8, 2016 ($508 million annuity) - Preliminary estimate, not won yet
  7. Mega Millions: $347.6 million cash, Dec. 17, 2013 ($636 million annuity) - California, Georgia
  8. Powerball: $284 million cash, May 7, 2016 ($429.6 million annuity) - New Jersey
  9. Powerball: $258.2 million cash, Aug. 7, 2013 ($448.4 million annuity) - Minnesota, New Jersey (2)
  10. Mega Millions: $240 million cash, Jan. 4, 2011 ($380 million annuity) - Idaho, Washington
  11. Mega Millions: $233.1 million cash, Mar. 6, 2007 ($390 million annuity) - Georgia, New Jersey
  12. Mega Millions: $230.9 million cash, Mar. 18, 2014 ($414 million annuity) - Florida, Maryland
  13. Powerball: $227.8 million cash, Feb. 19, 2014 ($425.3 million annuity) - California
  14. Powerball: $224.7 million cash, Aug. 15, 2012 ($337 million annuity) - Michigan
  15. Powerball: $223.3 million cash, Sep. 18, 2013 ($399.4 million annuity) - South Carolina
  16. Mega Millions: $214 million cash, Aug. 28, 2009 ($336 million annuity) - California, New York
  17. Powerball: $211 million cash, Mar. 23, 2013 ($338.3 million annuity) - New Jersey
  18. Powerball: $210 million cash, Feb. 11, 2012 ($336.4 million annuity) - Rhode Island
  19. Mega Millions: $202.9 million cash, Mar. 25, 2011 ($319 million annuity) - New York
  20. Mega Millions: $197.5 million cash, Nov. 4, 2014 ($321 million annuity) - New York
  21. Powerball: $197.4 million cash, Sep. 30, 2015 ($310.5 million annuity) - Michigan
  22. Mega Millions: $194.4 million cash, Aug. 31, 2007 ($330 million annuity) - Maryland, New Jersey, Texas, Virginia
  23. Powerball: $191.9 million cash, Mar. 2, 2016 ($291.4 million annuity) - Florida
  24. Mega Millions: $185 million cash, Nov. 15, 2005 ($315 million annuity) - California
  25. 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

Lottery Post Staff

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95 comments. Last comment 5 months ago by Kingofearth.
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dpoly1's avatar - driver
PA
United States
Member #66141
October 16, 2008
1672 Posts
Offline
Posted: July 6, 2016, 9:22 am - IP Logged

DanceI'm Ready!

I got my tickets this morning!

Good luck to all!

1 Ticket ......... 1 Winner!

dpoly1 - Playing the lottery to save the jobs of those that build, transport, sell & maintain luxury items! -

 

Eschew Poverty ........... Vote Conservative!

    Groppo's avatar - cat anm.gif

    United States
    Member #162631
    January 7, 2015
    506 Posts
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    Posted: July 6, 2016, 9:46 am - IP Logged

    DanceI'm Ready!

    I got my tickets this morning!

    Good luck to all!

    1 Ticket ......... 1 Winner!

    .

    Go to USAmega.com, and mouse-hover over the MM prize.

    It shows "cash value = $357.7"

    I'd happily settle for the .7

    And good luck to you too, Mr./Ms. Dpoly1.

    • Don't chase the numbers you play.
    • Play only numbers you've already played, plus however many random picks.
    • But, ALWAYS the regular numbers you play.  This will make you a winner, not a chaser.
              (so far, though, I've yet to win any significant lotto prize)
      Avatar
      md
      United States
      Member #14047
      April 20, 2005
      579 Posts
      Offline
      Posted: July 6, 2016, 9:51 am - IP Logged

      This is not just a life changing event for the one person (persons) or family. The many people that will be or can be impacted by such a huge liquidity event will be many, many, many people.

      Having said that, I'm prepared to make room in my life for this event.

        LiveInGreenBay's avatar - driver
        Green Bay
        United States
        Member #169391
        October 15, 2015
        1248 Posts
        Offline
        Posted: July 6, 2016, 9:55 am - IP Logged

        I'm just buying one quick pick.  One is all you need.

        Never give up.  Banana

          Avatar

          United States
          Member #168877
          September 20, 2015
          43 Posts
          Offline
          Posted: July 6, 2016, 10:02 am - IP Logged

          I have always wondered why rich people don't take this approach to make an extra few bucks.

          For example, if I had the money, I would visit the lottery headquarters and come across with something like, "hey, here's the payment for ALL possible combinations, hence give me some sort of MASTER ticket in return". Once the game plays, I know I will be the winner. However, most times, you are risking of sharing your money (not if someone had done this on Tuesday's game). At the end, you're gambling your money. Ha.

            Groppo's avatar - cat anm.gif

            United States
            Member #162631
            January 7, 2015
            506 Posts
            Offline
            Posted: July 6, 2016, 10:09 am - IP Logged

            I'm just buying one quick pick.  One is all you need.

            .

            No pet numbers?
            You must have more than just one ticket in play.

            • Don't chase the numbers you play.
            • Play only numbers you've already played, plus however many random picks.
            • But, ALWAYS the regular numbers you play.  This will make you a winner, not a chaser.
                      (so far, though, I've yet to win any significant lotto prize)
              Avatar
              Akron, Ohio
              United States
              Member #145647
              August 10, 2013
              36 Posts
              Offline
              Posted: July 6, 2016, 10:11 am - IP Logged

              You all really don't want to listen to the kid?? I know the great state of Sunny Arizona will have its very first MEGA MILLIONS WINNER!!! The winner will win $729 Million with no splitting at all Making him the sole winner of the jackpot and also the ticket will be a $5 QUICKPICK sold at Safeway Grocery store. THE PERSON THAT WINS THIS WILL BE THE BIGGEST SINGLE LOTTERY WINNER IN WORLD HISTORY IN ARIZONA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! THE FORCES OF NATURE TOLD ME!!!

                Avatar
                NEW YORK
                United States
                Member #90535
                April 29, 2010
                11982 Posts
                Offline
                Posted: July 6, 2016, 10:36 am - IP Logged

                02-24-29-53-63 + 08
                25-29-44-46-64 + 01
                05-21-29-45-74 + 05
                29-35-47-59-71 + 12
                45-52-64-66-73 + 12
                15-66-67-68-70 + 07
                08-17-23-37-68 + 10
                07-40-43-50-51 + 12
                05-13-27-46-72 + 10
                28-45-63-72-73 + 04
                03-25-32-60-68 + 01
                02-05-19-25-45 + 15
                49-58-59-65-69 + 11
                10-11-18-19-26 + 01
                03-25-40-58-63 + 01
                07-16-21-42-57 + 09
                11-40-47-50-61 + 05
                03-12-60-63-65 + 03
                12-14-25-31-68 + 06
                07-09-18-56-68 + 09
                07-21-29-44-46 + 06
                05-12-49-55-59 + 01
                05-17-30-35-68 + 04
                20-32-44-47-67 + 09
                27-35-46-62-75 + 06
                01-11-13-23-47 + 05
                13-15-22-30-74 + 09
                09-22-48-60-75 + 05
                13-26-27-31-54 + 15
                08-10-32-46-56 + 10
                08-26-27-36-39 + 08
                07-09-20-64-68 + 01
                08-13-42-46-57 + 07
                35-39-41-42-47 + 15
                18-50-53-69-70 + 12
                16-26-43-50-69 + 14
                08-17-33-41-45 + 01
                23-25-31-42-54 + 06
                04-08-18-40-41 + 13
                29-43-58-65-73 + 10
                10-13-51-65-69 + 13
                24-44-57-68-73 + 03
                04-28-50-51-53 + 10
                01-06-18-41-68 + 09
                14-28-31-56-57 + 01
                12-22-32-40-45 + 03
                07-25-30-74-75 + 05
                02-18-30-33-51 + 10
                39-57-62-64-70 + 07
                10-19-37-42-63 + 13

                US Flag

                PLAY THE LOTTERY SOMEDAY-IT IS OKAY TO DREAM!

                  MaximumMillions's avatar - Lottery-013.jpg

                  Germany
                  Member #164603
                  March 8, 2015
                  614 Posts
                  Online
                  Posted: July 6, 2016, 10:42 am - IP Logged

                  I have always wondered why rich people don't take this approach to make an extra few bucks.

                  For example, if I had the money, I would visit the lottery headquarters and come across with something like, "hey, here's the payment for ALL possible combinations, hence give me some sort of MASTER ticket in return". Once the game plays, I know I will be the winner. However, most times, you are risking of sharing your money (not if someone had done this on Tuesday's game). At the end, you're gambling your money. Ha.

                  Because there are 258 million possible combinations, at 1$ each that's 258M$, factor in all the time this costs, the taxes on the winnings and the possibility of havng to share the jackpot with one or more other winners makes this unattractive.

                   

                  EDIT: Good luck to everyone who bought in!

                    noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
                    Bay Area - California
                    United States
                    Member #136477
                    December 12, 2012
                    4110 Posts
                    Offline
                    Posted: July 6, 2016, 10:46 am - IP Logged

                    This jackpot is getting pretty exciting. Not that it wasn't before,  it's just that now it's cooking with gas. All the best on Friday people. Let's win the PB in the meantime. Banana

                    People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.


                      United States
                      Member #106134
                      February 13, 2011
                      806 Posts
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                      Posted: July 6, 2016, 11:00 am - IP Logged

                      Because there are 258 million possible combinations, at 1$ each that's 258M$, factor in all the time this costs, the taxes on the winnings and the possibility of havng to share the jackpot with one or more other winners makes this unattractive.

                       

                      EDIT: Good luck to everyone who bought in!

                      Exactly, even if you could afford to buy 1,000,000 quick picks, your odds of winning the jackpot are still VERY minuscule.

                        music*'s avatar - nw bookeep.jpg
                        Happy California
                        United States
                        Member #157856
                        August 2, 2014
                        1522 Posts
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                        Posted: July 6, 2016, 11:06 am - IP Logged

                         Thank You, Todd, for this post.

                         A certain winner in California will have a cake walk this upcoming Friday night. Thank You to all you who participate in this draw.Lurking

                         I've been rich and I've been poor. Believe me, rich is better. 

                         Attributed to Joe E. Lewis and others

                          rcbbuckeye's avatar - Lottery-043.jpg
                          Texas
                          United States
                          Member #55889
                          October 23, 2007
                          5614 Posts
                          Online
                          Posted: July 6, 2016, 11:12 am - IP Logged

                          I have always wondered why rich people don't take this approach to make an extra few bucks.

                          For example, if I had the money, I would visit the lottery headquarters and come across with something like, "hey, here's the payment for ALL possible combinations, hence give me some sort of MASTER ticket in return". Once the game plays, I know I will be the winner. However, most times, you are risking of sharing your money (not if someone had done this on Tuesday's game). At the end, you're gambling your money. Ha.

                          After the federal taxes are all paid, a person doing that would lose at least 43 million. And that's in a state with no income taxes. And assuming there is only one winner.

                          And then being able to fill out all the playslips and having time to run them. (It wouldn't happen at lottery headquarters.)

                          Gotta get quite a bit higher before trying that.

                          CAN'T WIN IF YOU'RE NOT IN

                          A DOLLAR AND A DREAM (OR $2)

                            hearsetrax's avatar - 0118

                            United States
                            Member #52345
                            May 21, 2007
                            2659 Posts
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                            Posted: July 6, 2016, 11:13 am - IP Logged

                            Skeptical serious looking clouds b4 the November mega storm