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24698 to this amount to give an "expected before tax, cash value of $1. All prizes of $10,000 and above are reduced 40% to allow for federal and state taxes. In 2013, Wyoming became the 44th state to establish a lottery; the next year, it began, initially offering both Mega Millions and Powerball. Two tickets, one each from Florida and Maryland, split the prize; both sets of winners chose the cash option, splitting $230. 3 Million 10/17/2014 Sean Ransom Inglewood, CA $1 Million 10/14/2014 Lisa Metz Hutchison, KS $1 Million 10/14/2014 Michael Schmitt Massapequa Park, NY $1. The Megaplier number is randomly picked using the probability table below.    If your state has a �Megaplier� and if your state follows the probabilities posted on the Mega Million web site, then a calculation can be made for the expected return if you pay an additional $1.

The first drawing under the revised 5/75 + 1/15 format—which saw the jackpot estimate "leap" to $55 million due to the change in the annuity structure—occurred on October 22, 2013. For an additional fee of $1, players can purchase the Megaplier option to multiply all non-jackpot wins by the draw's Megaplier number. Beginning in January 1999, jackpot winners were given the option to receive their prize in cash. In Texas and most other locations, you can also choose to pay an addition $1 per game to multiply any non-jackpot prizes by 2x, 3x, or 4x with the Megaplier to increase your smaller winnings.

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An average $228,000,000 cash payout (decline the annuity) is assumed for the Jackpot. (Could be your portion of a shared Jackpot.) (Note that this "cash payout" is about one half of the advertised Jackpot amount. Combination       Cash Payout       Probability      Contribution ----------------------------------------------------------------- 5 White + Mega    $228,000,000      3. Tickets must be claimed no later than 180 days after the draw date.

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This $800 million is divvied up multiple ways. (For example, see the 6 "winners" in the "3rd Thoughts" section at the end of this web page, allocations for the smaller prizes, etc.)    Only about $200 million of the new cash input goes to the Jackpot allocation. (The rate of increase in Jackpot amount for a given new cash input is based on historical Mega Million data which can be seen at ) (The increase in the advertised annuity would be about double this - or about $400 million.) The cash Jackpot is now worth $400 million plus $200 million = $600 million. (The advertised annuity value would be about double this - or about 1. Treat the five mega million white balls as you would any pick-5 game. No other win is paid out, and some jurisdictions do not offer this option. That which is LEAST POSSIBLE happens LEAST OFTEN.

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01 and $5,000, you'll have to declare this amount on a Federal tax form so that the government is aware. Mega Millions players in some states have an extra ticket option called "Just the Jackpot." For $3 players will get two chances instead of one to win the top prize. The Megaplier option remained; the 5x multiplier was added. The latest winning Mega Millions numbers, a random number generator, game statistics and a prize breakdown with payouts and winners for each draw. Reflecting common practice among American lotteries, the jackpot is advertised as a nominal value of annual installments. View ➞ Colorado Lottery App The Colorado Lottery’s mobile app is the golden ticket of apps – it costs you nothing and is worth millions. Before Tax Return on Investment     It is interesting to calculate what the long term expected return is for each $2. Beginning with the October 22, 2013 drawing, the second-tier prize (Match 5 + 0) is increased by 2, 3, 4 or 5 times when Megaplier is purchased. You benefit more by wheeling a carefully selected group of lotto numbers. For example: If 200,000,000 tickets are in play for a Mega Millions game, then there is a 0. Drawings[edit] Drawings are usually held at the studios of WSB-TV in Atlanta, Georgia.[1][38] The original host was WSB's chief meteorologist, Glenn Burns. The game costs $2 a ticket and is played by picking five numbers from a set of 70 and one Mega Ball number from a set of 25. Mega Millions officials may reduce prize levels for Mega Millions and/or Megaplier in the event that an unanticipated number of winner claims exceed the available prize fund for a given draw. It's true that the more numbers you wheel, the easier it is to trap the winning numbers in your chosen group.