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To find out the expected return, we construct a table to calculate the average expected multiplier. The other Mega Millions members allow the cash/annuity choice to be made after winning (usually 60 days after claiming the ticket), although in Florida the 60-day "clock" starts with the drawing in which the jackpot prize was won.

Just the Jackpot™ Play offers 2 chances to win the Mega Millions® Grand Prize for $3. Note: This web page had over 50,000 hits for the large Jackpot on Jan. All prizes of $10,000 and above are reduced 40% to allow for federal and state taxes. Each jurisdiction's lottery operates independently, and so the disparities in claim periods tend to stem from the operators aligning them with claim periods of their other lottery games. The recommended wheeling systems for Mega Millions are pick-5 Balanced Wheels® like those in Wheel Five Gold.

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Numbers that have been out (losers) for six games or less account for many of the winning numbers. The Megaplier continues to be drawn by Texas Lottery computers, as California does not offer the multiplier.

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Don�t forget that a large prize will throw you into a top tax bracket.    First, we check the expected value of a ticket in the table that we calculated earlier. Follow the 600-million row until you come to the $1,000 million column. Record jackpots (listed by cash value)[edit] Revenue[edit] Approximately 50% of Mega Millions sales is returned to players as prizes; the remainder is split (each lottery has different rules regarding these funds) among retailers, marketing, and operations, as well as the 46 jurisdictions offering the game; different lotteries uses the proceeds in different ways.[41] Miscellany[edit] In the aftermath of the attack on the World Trade Center on September 11, 2001, the legislature in Albany, fearing a monumental loss of revenue, passed legislation the following month, which was signed by Governor George Pataki, which included joining a multi-jurisdictional lottery game. On May 15, 2002, the game was renamed The Big Game Mega Millions; shortly after, it became just Mega Millions.

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Of course you get to pay taxes on any large payout, so your net return is even less. The probability of success is thus: 436,800/302,575,350  = 0. California's eight lower-tier Mega Millions prize pools are separate from those shared by the other 45 lotteries. CASH IN ON A POSITIVE ATTITUDE No one should play games of chance out of desperation because they need the winnings.