It's Going Viral

The Mega Millions lottery has rolled over for a record breaking 18th time to reach staggering new levels.  With no jackpot winner in last nights drawing, the annuity payout option has soared to $476 million for the drawing on Friday March 30, up $113 million from the previous drawing.  The cash payout option has been raised an amazing $81 million to bring it to $341 million currently.

There is a good chance both amounts will be raised slightly before the drawing takes place.  This is common around such huge drawings due to the increase in sales with so many people playing the lottery who normally wouldn't.   Let's face it, the odds of winning the jackpot are very slim, 1 in 176 million,  but with a jackpot prize that high it's worth the chance to play a dollar or two.

Just in case you are curious, here is a close estimate of what you would walk away with if you won the jackpot.  This information is courtesy of USA Mega, home of Mega Millions and Powerball.

Annuity		Cash
Mega Millions Jackpot for Fri, Mar 30, 2012  $476,000,000		$341,000,000
Gross Prize 26 annual payments of                        $18,307,692		Lump-sum cash: $341,000,000
- 25% Federal Tax                         -                        $4,576,923		- $85,250,000
Subtotal                                $13,730,769		$255,750,000

If you want to read more, USA Mega breaks down all the estimated state taxes also.  Just check out the via link for more info.

via:  USA Mega