$290 MILLION:" Mega Millions lottery jackpot increased

Comment #25

whodeani — Sat, 03 Jul 2004 04:02:32 GMT

I forgot to mention in my post above that the taxes you would pay on an annuity vs. a lump sum are based on two different amounts. $290 million for the annuity and $165 million for the lump sum so naturally you will pay more taxes on the annuity. I thought I would mention this to fair in my analysis. I was just looking at it in terms of just paying taxes on winnings regardless of what the winnings may be. Even though $290 million is much more than $165 million, I would feel a heck of a lot bette... [ More ]

Comment #24

whodeani — Sat, 03 Jul 2004 03:13:38 GMT

Quote: Originally posted by tg636 on July 02, 2004If you show me some good evidence that you could make the amount of the annuity by investing the lump sum, I would be a believer. Assuming taxes get 35% of the lump sum and 5% of what's left goes to spending and enjoying your money, then you start off down 40%. So you have to make that 40% back just be get back to where the state starts off investing the annuity. The state takes the same lump sum and invests it without having to pay the 35% tax... [ More ]

Comment #23

grayfox — Fri, 02 Jul 2004 15:10:11 GMT

Got back a few minutes ago, I split $120 between 3 different terminals. As I think about the odds of such lottery I try and stray and not let my conscience fully grasp the near impossibility of me winning this thing. But one chance in hell is still one chance and that's good enough odds for me. I hope I as well as other people get lucky tonight, It'll be nice to win all this money but I'd sure be even just as happy if more people shared the prize. Besides, who would want the the paparazzi knowin... [ More ]

Comment #22

tg636 — Fri, 02 Jul 2004 14:03:22 GMT

$350 is way too much to spend on one drawing. Please, only get a couple and use the $350 to buy 1 for each drawing for the next 6 years - unless you are doing a test to see how brutal the odds are. I have 3, up from my usual 1. $290 mil is a huge amount of money, but winning even the lowest jackpot would change your life almost as much. Don't blow it all now - if nobody wins, what are you going to do next week?>WOW It's almost 4am and I can't sleep at all! The anxiety is overwhelming as I pond... [ More ]

Comment #21

vincejr — Fri, 02 Jul 2004 09:48:44 GMT

Quote: Originally posted by grayfox on July 02, 2004WOW It's almost 4am and I can't sleep at all! The anxiety is overwhelming as I ponder how much of my remaining money to use for tickets. I have roughly $350 but do I go ahead and make the plunge and put all my remaining money and hopes into this chance of a lifetime, or do I go more conservative and purchase 100-150 tickets just in case it rolls over again.Dude, If you are having those kinds of thoughts and deliberations, maybe it's time you ma... [ More ]

Comment #20

grayfox — Fri, 02 Jul 2004 07:56:26 GMT

WOW It's almost 4am and I can't sleep at all! The anxiety is overwhelming as I ponder how much of my remaining money to use for tickets. I have roughly $350 but do I go ahead and make the plunge and put all my remaining money and hopes into this chance of a lifetime, or do I go more conservative and purchase 100-150 tickets just in case it rolls over again. I still have plenty of hours to think it through and decide on which choice. My adrenaline rush is incredible, though I'm not sure it's adre... [ More ]

Comment #19

joeyblakis — Fri, 02 Jul 2004 05:01:36 GMT

Thanks, that's a great link to keep handy

Comment #18

tg636 — Fri, 02 Jul 2004 04:58:22 GMT

http://www.biggamelottery.com/jackpot.htmAccording to this, the NY net lump sum payout: $111,766,000.

Comment #17

joeyblakis — Fri, 02 Jul 2004 04:54:26 GMT

Let's say some one wins the jackpot ( In NY) this Friday and takes the lup sum option. How much of the jackpot will he or she get if for example the jackpot stayed a 300 Mil.? (after Taxes and such

Comment #16

tg636 — Fri, 02 Jul 2004 04:41:42 GMT

If you show me some good evidence that you could make the amount of the annuity by investing the lump sum, I would be a believer. Assuming taxes get 35% of the lump sum and 5% of what's left goes to spending and enjoying your money, then you start off down 40%. So you have to make that 40% back just be get back to where the state starts off investing the annuity. The state takes the same lump sum and invests it without having to pay the 35% taxes the winner does, which is why it seems to me th... [ More ]

Comment #15

Mana — Fri, 02 Jul 2004 01:46:39 GMT

*peers in from lurker world*... heehee ...... we haven't heard from good o' jackie for a while :sweatdrop

Comment #14

Tx_Mega_Player — Fri, 02 Jul 2004 01:45:33 GMT

Quote: O

Comment #13

golotto — Fri, 02 Jul 2004 01:30:54 GMT

i wonde

Comment #12

Bradly_60 — Fri, 02 Jul 2004 01:14:19 GMT

In the last drawing almost 60% of all the combos were bought. With they hype this huge jackpot is getting (which by the way makes the game more fun) I say 70-80% will be bought for this Friday's drawing. Slim chance that their will be a rollover. But just one more rollover means the highest lottery jackpot ever. Just one more. It took over two years to get even close to the $500 million that they once projected. Very unlikely it will happen again soon. SO JUST ONE MORE ROLLOVER...haha. E... [ More ]

Comment #11

nitabug — Thu, 01 Jul 2004 23:01:56 GMT

Ya'll I am not kidding! I can't fathom the thought of having so much money! No wonder some winners go crazy and give it away. Lump sum would be the best in my case. I have had nightmares about what to do with all of that money. How to invest, how to spend, gosh I would go nuts. I have tried all evening to get someone to ride to Illinois with me to buy a few tickets It's about 86 miles from here. I don't trust the online thing. Oh well. Maybe I can sneak off this weekend if the pot keeps... [ More ]

Comment #10

fxdwg — Thu, 01 Jul 2004 21:36:38 GMT

LOL@nitabug Tg: Try this one on for size say you live in the high tax state of Maryland you take the cash option after taxes 110,700,000. you try to spend million 700 thousand dollars put the rest in tax free municipal bonds yielding 4% that is 4 million per year or 330 thousand and change a month the only thing I am fuzzy on is FICA which would be another 8% off the top.and yes cash only that is the only option I would take

Comment #9

CASH Only — Thu, 01 Jul 2004 21:26:03 GMT

nita:If you win, take the LUMP SUM.

Comment #8

CASH Only — Thu, 01 Jul 2004 21:08:07 GMT

tg:Not if they won an annuity.Any news yet on a new version of Megabucks

Comment #7

tg636 — Thu, 01 Jul 2004 21:05:58 GMT

A tremendous amount of money for one person, no matter what. If you took the annuity for $290,000,000, you could spent $150,147 a week *after taxes* every single week for 26 years. If you could get by on just $50,000 a week and save the other $100,000, that would be $5,200,000 a year in the bank. If that $5,200,000 were earning a lousy 1.35% interest, you would make $70,109 interest in the first year alone. And that's just from the first year, with 25 more checks and 25 more years of compoundi... [ More ]

Comment #6

whodeani — Thu, 01 Jul 2004 19:36:54 GMT

If there is a rollover on Friday night, I wonder with this being a holiday weekend that people may be out of their normal routine and forget about current dvents around them and there may not be as many tickets being bought as normally would be. Nobody will be working on Monday and when they get to work on Tuesday the water cooler talk will be about the big lottery jackpot and realize they haven't bought a lottery ticket yet. By the time they get off of work on Tuesday, there will be long lines... [ More ]

Comment #5

mrmst — Thu, 01 Jul 2004 18:06:23 GMT

Lottery fever has hit at the office where I work. I run a pool which plays every drawing of Mega Millions. We usually have 16 players, each pitching in $3. Today, we have 49 members!!!! We will have around 150 tickets and chances at the big prize. If we do win the jackpot, and have the only winning tickets, each of the members would take home around $2 million after taxes. It might force our company out of business as nearly everyone is playing (including upper management) and there would

Comment #4

fxdwg — Thu, 01 Jul 2004 18:03:37 GMT

I am not sure that I will play the notoriety of winning would be overwhelming and I would rather be flying under the radar. On the other hand it is hard to resist 290 million or 164 million cash option

Comment #3

weshar75 — Thu, 01 Jul 2004 17:11:53 GMT

We'll probably see a 300+ jackpot for Friday since they have raised it today and one day left to drawing. I would like to see a new record set if it does roll over to Tuesday past 363.

Comment #2

whodeani — Thu, 01 Jul 2004 17:02:33 GMT

It is widely anticipated t

Comment #1

RJOh — Thu, 01 Jul 2004 16:58:44 GMT

If no winners this Friday, could a half $Billion jackpot be next? Or maybe an increase in the 2nd prize amounts?RJOh

$290 MILLION:" Mega Millions lottery jackpot increased

Lottery Post — Thu, 01 Jul 2004 16:45:42 GMT

Huge demand for tickets spurs mid-week jackpot increaseThe Mega Millions lottery group decided to raise the jackpot again prior to the Friday drawing due to a ticket sales frenzy.The largest jackpot in the two-year Mega Millions history has caused record sales in all eleven states that participate.The $10 million increase pushed the Friday jackpot from $280 million to $290 million, and expanded the lump-sum cash option to $164 million.It is widely anticipated that if no ticket wins the jackpot F... [ More ]