A Mega Millions winners means big tax revenue, too

A customer shows his purchased Mega Millions lottery ticket at a retailer in Washington DC on Sunday
A customer shows his purchased Mega Millions lottery ticket at a retailer in Washington DC on Sunday
Author

25 October, 2018

Fifteen tickets, however, did match five numbers to earn a prize of at least $1 million, including one sold in California.

The odds of winning Mega Millions are about one in 302 million.

"Mega Millions has already entered historic territory, but it's truly astounding to think that now the jackpot has reached an all-time world record", said Gordon Medenica, Lead Director of the Mega Millions Group. Mega Millions now marks the largest lottery prize in the history of the United States. The previous record was a US$1.586 billion jackpot for a Powerball drawing in 2016. The drawing will take place Tuesday night.

It is the largest lottery prize in US history - which is bound to continue growing - and joins five other top 10 drawings in the last three years.

Winners have the option of taking a one-time cash prize or in 30 installments over 29 consecutive years. The odds are low, about one in 300 million.

Not everyone can buy Mega Millions lottery tickets online.

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And if you do win you won't get your money right away, lottery officials say payment usually varies by state, but a week or two is pretty common.

North Dakota sold more than $27 million in lottery tickets during 2017. Lottery revenue represents a small fraction of the department's overall budget - the $32.3 million it received for fiscal year 2019 makes up just 1.42 percent of the money in the department's funding formula.

"Even though the odds are against me, I still have that one hopeful chance, not going to lie", says James Howard, student at Truckee Meadows Community College.

In the original Megamillion players picked five numbers from 1 to 75 and a Mega number from 1 to 15. Say I were the sole victor of the $1.6 billion jackpot (lucky me).

Also, a $1 million Powerball ticket was sold in Ingham County, Michigan, according to a local news report. If it seems like these astronomical numbers are happening more frequently, it's because they are. The No. 1 population state of California is second in Mega Millions winners with six, while IL is third with four winners.


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