The Mega Millions lottery has reached an all time high of $640 million. Officials say that people have bought over $1.46 billion worth of tickets for tonight’s drawing. The odds of winning the lottery stand at 1 in 176 million. If a single person wins the money they could receive their winning in annual payments or in a lump sum of $462 million. After taxes that number would drop to $347 million.
The record breaking lotto is causing a frenzy across the country. Some people are buying thousands of dollars worth of tickets according to reports by the Associated Press. Most buyers have realistic expectations and know the long odds of winning. The Mega Millions lotto is played in 42 states and the District of Columbia. The Mega Millions lottery is not available in Alabama.
Yahoo has an interesting article via The Atlantic Wire on the bad luck that has befell some lottery winners. There are inherent dangers to acquiring big money quickly. Look at the fate of most professional athletes who find themselves with million dollar contracts in their early twenties and wind up broke by their late thirties. The winner of this jackpot would probably be hard pressed to blow this large amount of money.
**Update** Winning numbers were 46 – 23 – 38 – 4 – 2 – (Mega Ball) 23. No word yet if anyone has won the lottery. Officials say there is a 95% chance someone had the winning ticket. If no winner comes forward, the lotto could climb to nearly $1 billion next week.