Lottery-hopefuls met with astronomical odds ahead of $1.6 billion drawing

24 October, 2018, 08:09 | Author: Corey Lynch
  • Mega Millions could balloon to $2B if nobody wins next drawing

The winning numbers for Tuesday night's $1.6 billion Mega Millions jackpot are 5, 28, 62, 65, 70 with a mega ball of 5.

That would leave most of us disappointed but some lucky victor beset by a host of questions.

The $1.6 billion Mega Millions jackpot has set an all-time world record, surpassing the $1.586 billion Powerball drawing that occurred on January 13, 2016.

Another added a hopeful note to their tweet, writing, "I didn't win #MegaMillions this time". But if someone does win they can take the lump sum of $904 million which will be anywhere between $490 million to $569 million dollars after taxes.

Get in line. Delmar Baracani of Spring Valley (left to right), Eliseo Garcia of DePue and Joe Nelson of Princeton stand in line to purchase Mega Millions jackpot tickets Monday morning at the Spring Valley Mini-Market. Last year, they spent $72.97 billion on traditional lottery tickets, according to Gallup. "I don't want to be like those lottery winners that just go bankrupt".

"Back in 1992, there was an Australian Cartel that tried to buy one of every Lottery ticket offered in Virginia", said Prof.

On October 19th there were some winners, just not for the jackpot. In Arizona, people who win more than $600 can keep their names secret for 90 days after claiming prizes, but after that names are public record.

Today's drawing is the largest lottery jackpot ever, the Mega Millions website reports. None of these states tax lottery winnings.

State taxes will take another bite from that jackpot.

New York has the highest tax at 8.8 percent and residents of New York City face another 3.8 percent extra in taxes. In general, taxes eat up almost half of winnings.

For Henderson, he enjoys hearing what people would do with the money.

"Laying the groundwork is important, but most people would not bother to fully lay the groundwork because the odds are so small", Burns said. "You have to be prepared to write another check to the IRS in April". Those will vary depending on where you live.



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