I just read that one of two winning tickets was bought in Hoboken at Washington Liquors at 211 Washington St. In case you haven't heard, the Mega Millions lottery reached an astonishing $648 million this week. Here we'll look at the question of how much money you could expect to win from this lottery.
So it looks like investing in the stock market is a pretty good way to spend a dollar, while playing roulette will lose you some money.
We could calculate the probability of getting all 6 numbers right (using a branch of math called combinatorics), but we'll skip that step for now. Anyway, let's figure this out: for every $1 you spend on the Mega Millions, how much could you expect to win?
Here's a simpler example: suppose you roll a fair die (numbered 1-6), and you win a number of dollars equal to the number that comes up on a roll. As far as we know, the Mega Millions lottery doesn't publicly announce how many tickets are sold, but it's probably in the many hundreds of millions for big jackpots like this one. With these numbers, you can expect to make $1.42 off of every dollar you put in the lottery.
So to summarize, for every $1.00 you spent on Mega Millions, you could expect to lose about 40 cents.
During the drawing, 5 white balls, 1 yellow ball, and 1 Megaplier ball (2, 3, 4 or 5) are selected. Megaplier is a $1 add-on feature (per wager) that multiplies the original prize amount by 2, 3, 4 or 5 times! The Lottery announces the jackpot's estimated "ANNUITY" and estimated "CASH PAYMENT" value for every Mega Millions drawing.
Mega Millions tickets can be purchased in Arizona, Arkansas, California, Colorado, Connecticut, Washington DC, Delaware, Georgia, Idaho, Iowa, Illinois, Indiana, Kansas, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Vermont, Virginia, Washington, West Virginia and Wisconsin.


The winning numbers for Tuesday's $356 million Mega Millions lottery jackpot, the third-largest prize in the game's history, were 9, 19, 34, 44, 51 and Mega Ball 24. The largest Mega Millions jackpot ever won was $390 million in March 2007, according to Mega Millions. The winner is selected through five balls drawn from a set of balls numbered one through 56, and one ball is drawn from a set numbered one through 46. While there are nine ways to win a prize, starting from $2, ticket buyers across the country have their eyes on the $356 million jackpot, which has been growing since Jan.
The odds of winning the jackpot are approximately one in 176 million, according to the Mega Millions website.
No one matched all six Mega Millions numbers for the grand prize in the last drawing, so the Tuesday, November 9, 2010 estimated jackpot climbed to $25,000,000. Although no one won the last Mega jackpot, there were four (4) $250,000 lottery winners, one from California, one from New York, and two from Texas. Don't miss tonight's Mega Millions drawing, November 9, 2010, when the estimated Mega Millions jackpot will be for $25,000,000 annuity, or $16,00,000 cash value.
Donna DiegelLottery ExaminerDonna Diegel is a published author, freelance writer, pastry chef, recipe developer, former caterer and party planner. In other words, for every dollar you spend playing the Mega Millions lottery, how much money could you expect to get back? In each Mega Millions game you play, you select 5 numbers between 1 and 75, and then one addition number between 1 and 15.
But if we include a jackpot of $648 million, the calculation becomes a little more challenging, because that prize can be split if there's more than one winning ticket. Jackpot prizes are paid as an annuity in 30 graduated annual installments unless the winner selects the cash payment choice within 60 days after the ticket validation date. In the last drawing, in which there was no jackpot winner, almost 2.9 million tickets won Mega Millions prizes.


Click the SUBSCRIBE button ABOVE to get a spam-free email when the National Lottery Examiner updates the latest breaking Lottery News! You can find Donna writing for Providence Holidays, Providence Food, Rhode Island Restaurant, Food Media, Paula Deen, and Martha Stewart. Let's say enough tickets were sold so that we can expect (there's that word again) about 2 winners. Any time the lottery exceeds about $250,000,000, your expected winnings are greater than $1.00, so it seems like a good idea to play. The government may not tax you much when you win $50 for matching a few numbers, but you can bet they'll tax your jackpot prize (or the $1 million prize for matching 6 numbers). When there is no jackpot winner, the jackpot prize money rolls over and is added to the next drawing. That's when Mega Millions had its most recent jackpot winner, Marcia Adams, 33, from Georgia.
Winning Mega Millions numbers can be found here, or at the official Mega Millions website shortly after the drawing is over. She's a live-aboard sailor, sci-fi addict, and absolutely adores cheesecake, coconut and lime. The game was well received due to its delightful gameplay, cute lead character, and innovative level design.
And you actually lose at lot more (closer to 40 cents) if you decide to take your winnings all at once. The 10-cent loss is only if you let the lottery make smaller payouts to you over the course of 20 years (and they don't account for inflation).



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