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The overall odds of winning any prize are 1 in 24, which is slightly better than that of Powerball, which are 1 in 24. Similarly, the odds for second prize are 1:(75C5) x (15/14) = 1: 18,492,204 chance of winning. 00 lottery ticket that you buy    The first task is to construct a table where each row lists the winning combination, the payout, the probability of this payout, and the contribution to the expected return (Equals payout times probability.) The probabilities are the same ones we derived earlier.

Cash Value of a Game    If you win the Jackpot, you have the option of either accepting 30 annuity payments (A cash amount that is paid annually), or you can take a lump sum "cash value" payment. 0%      39,488,405        1,505,144          6,195,375   8.

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1569 (Used for after tax calculation) Total for last 8 rows                                  0. The "Megaplier" option (which again is not offered in California) was retained, with an adjustment to its multipliers. (The final jackpot for the $1 version was $30 million, which was not won; the initial jackpot for the new version would still be $40 million with a jackpot hit.) Mega Millions prize tiers effective October 28, 2017 (changed amounts in boldface) for a $2 base play (except prizes won in California): 5+MB: Jackpot; starting jackpot raised to $40 million (annuity value) 5+0: $1,000,000 ($1,000,000) 4+MB: $10,000 ($5,000) 4+0: $500 ($500) 3+MB: $200 ($50) 3+0: $10 ($5) 2+MB: $10 ($5) 1+MB: $4 ($2) 0+MB: $2 ($1) The new prize structure allocates roughly 75 percent of the prize pool for the jackpot; this is, in part, to facilitate the new Just the Jackpot option. And this is for an advertised $2 Billion Jackpot. The added populations of the two new jurisdictions, in turn, led to a larger double matrix. 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. When the jackpot is $200 million, each payment is twice as big.

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In October 2017, Mega Millions underwent another series of matrix changes to arrive at its current format, together with detailed alterations to its prize structure. The total of these 30 payments will approximately equal the advertised size of the Jackpot. (This assumes you are a single winner and not sharing the Jackpot with someone else. He missed the MEGA Millions jackpot by just one number, but you wont hear this man complaining. Match 3 main numbers or any other combination to be in with a chance of winning. The probability of success is thus: 325/302,575,350  = 0. Beginning in January 1999, jackpot winners were given the option to receive their prize in cash.

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To enter Just the Jackpot, pick up a play slip from an authorized retailer and select your numbers. Otherwise, you'll be spending MORE money chasing a SMALLER guaranteed prize. To find out the expected return, we construct a table to calculate the average expected multiplier. 0.   Thus we have calculated that the average multiplier is 2. The odds of winning the Mega Millions jackpot are 1 in 302. The Mega Millions double matrix changed, from 5/75 + 1/15 to the current 5/70 + 1/25.[13] The starting jackpot became $40 million, with minimum rollovers of $5 million. 00 ticket includes the extremely low probability that you might win a large prize � for example $10,000 or more. Anonymity You are obliged to go public about a jackpot win unless you live in one of the following states: Delaware, Kansas, Maryland, North Dakota, Ohio, and South Carolina.Bayonne, NJ $4 Million 11/17/2017 Steven Schultheis Franklin, MA $5 Million 10/27/2017 Gladys Salzwedel Oakley, MI $21 Million 10/13/2017 Kevin & Stephanie Blake Waterford, MI $1.