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MEGA MILLIONS climbs to $222 Million

Topic closed. 11 replies. Last post 13 years ago by Kristin.

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Lottery_Analyst's avatar - Batman
Georgia
United States
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January 15, 2003
260 Posts
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Posted: February 19, 2004, 10:27 am - IP Logged

Mega Millions has just been updated with a new estimated jackpot payout of $222 Million.

Don't forget to buy your tickets or join in a pool before Friday....

Good luck to all....

John

Lottery Analyst

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    United States
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    February 22, 2003
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    Posted: February 19, 2004, 1:15 pm - IP Logged

    Oh my! We're going to buy $100 worth in Detroit.  I may buy another $50 some other place,too. 

     

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      February 22, 2003
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      Posted: February 19, 2004, 1:18 pm - IP Logged
       

      LANSING, February 19, 2004 As of 11:30 a.m. today, lottery officials for the Mega Millions game announced that due to solid ticket sales the estimated jackpot for February 20, has been increased by $7 million!  The jackpot for tomorrow nights Mega Millions drawing now sits at $222 million!

      If one winning ticket matches all six numbers in Friday nights drawing and the player has selected annuity payments over 26 years, the $222 million jackpot would amount to pre-tax payments of roughly: 


      " $8.5 million per year;
      " $164,200 per week; or
      " $23,450 per day!


      For those who prefer to take their cash winnings up-front, its a pretty nice payday as well.

      If one lucky cash-option player matches all six winning numbers, he or she will take home a check for approximately $131.3 million (before taxes), the estimated present cash value of Fridays $222 million jackpot!

      Mega Millions tickets are available in Michigan, Georgia, Illinois, Maryland, Massachusetts, New Jersey, New York, Ohio, Texas, Virginia and Washington.  Fridays drawing will be conducted at 11 p.m. live in Times Square in New York City and broadcast on cable superstation WGN out of Chicago as well as a network of Michigan stations (check local listings).  For more information, you can also visit the Mega Millions Web site at: www.megamillions.com.

      NOTE: Commissioner Gary Peters is available for interviews on Friday (2/20).  If you would like to schedule an interview, please contact Jennifer Quimby at (517) 335-5648.

       

        weshar75's avatar - Lottery-042.jpg
        Mcminnville, Oregon
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        December 13, 2003
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        Posted: February 19, 2004, 1:22 pm - IP Logged

        I hope that we are looking at a 300+ million dollar jackpot by this time next week.  Give it some more time before it is won!

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          Wisconsin
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          Posted: February 19, 2004, 2:12 pm - IP Logged

          it sure could rol

          ... the lottery never fails to surprise!
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            February 22, 2003
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            Posted: February 19, 2004, 6:13 pm - IP Logged

            I, for one, am going to take it all if I ever happen to win. I am only 23 years old, so I will be taking it all, I can live 26 good years with the whole jackpot in my pocket! You get roughly $92 million dollars out of $222 million, I think its kind of crazy to give the government that much money. I know, that I can live off of 8 million a year. I hardly make that now and I am sure I wont make that in my life time now.

             

              kbcherokee's avatar - buffalo2
              Virginia
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              June 20, 2003
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              Posted: February 19, 2004, 6:56 pm - IP Logged

              "Hey Visiondude Where are you?"


              -It's time-


              Chief

              May the warm winds of heaven blow softly upon your house. May  the Great Spirit bless all who enter there. May your mocassins make happy tracks in many snows. And may the rainbow always touch your shoulder.

                dvdiva's avatar - 8ball

                United States
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                September 17, 2003
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                Posted: February 19, 2004, 8:51 pm - IP Logged

                the problem Kristen is i think tax rates are due for a hike - and it will only get worse when the baby boomers demand social security and Medicaid

                  whodeani's avatar - lightening

                  United States
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                  October 9, 2003
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                  Posted: February 20, 2004, 8:40 am - IP Logged

                  I don't live in a Mega Millions state but I did buy tickets from betslips.com and I hope my tickets were bought from Texas, Washington, or New Jersey. No state tax! I'm not sure if my own state might come and hit me with some tax though. Not really sure how that works. That is what a tax attorney and accountants are for. And if I had almost $100 Million I would have no problem paying those people.

                    LaurainMass's avatar - strawberry
                    Boston,Massachusetts
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                    December 2, 2003
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                    Posted: February 20, 2004, 10:36 am - IP Logged

                    And the winner of the 222 million drawing is, Massachusetts lol !

                    Laurajean

                      twisted's avatar - underground
                      New Jersey
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                      Posted: February 20, 2004, 12:13 pm - IP Logged
                      Quote: Originally posted by Kristin on February 19, 2004



                      I, for one, am going to take it all if I ever happen to win. I am only 23 years old, so I will be taking it all, I can live 26 good years with the whole jackpot in my pocket! You get roughly $92 million dollars out of $222 million, I think its kind of crazy to give the government that much money. I know, that I can live off of 8 million a year. I hardly make that now and I am sure I wont make that in my life time now.





                      Its nice to see someone around my age here.  I'm 21 myself.  If you take annuity you would be paying taxes on that anyway and you would dventually get $124 million (after taxes and depending upon your state tax).  And that is "dventually."  In about 10 years, $10 million dollars wont be worth what it is today.  I'd rather take the cash option and invest the money as I see fit. 
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                        February 22, 2003
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                        Posted: February 20, 2004, 1:15 pm - IP Logged

                        I dont think lottery winnings should be taxed, its not working pay as you would get each week from your job. Your right, you will be taxed regardless if you take the cash option or the annuity payments. If you took the cash, you would get half which is $136 million, without tax deduction. You will get half of the $136 million you won, out of $236 million, in Michigan, it would be around $98 million Dollars out of $236. Huge cut ! That is almost $100 million in taxes.