Mega Millions jackpot hits record $500 million
While the annuity jackpot prize for Friday night's Mega Millions drawing is $500 million, the cash option payout is $359 million.
March 28th, 2012
04:53 PM ET

Mega Millions jackpot hits record $500 million

Editor's note: The day after this story was published, the jackpot estimate rose to $540 million.

The jackpot in Friday's Mega Millions lottery drawing has risen to an estimated $500 million, the largest in the game's history, after Tuesday night's drawing produced no jackpot-winning ticket.

The latest estimate, announced around midday Wednesday, is even larger than lottery officials had announced just hours earlier. The initial estimate for Friday's drawing was $476 million, which also would have been a Mega Millions record.

Tuesday's numbers were 9, 19, 34, 44 and 51, with a Mega Ball of 24. That drawing was for an estimated $363 million jackpot, which would have been the game's third-largest.

Forty-seven tickets earned a pre-tax prize of at least $250,000 each by matching five numbers without matching the Mega Ball. Nine California winners will get $308,573 each because of parimutuel rules in that state.

The game's previous biggest jackpot was $390 million in a March 6, 2007, drawing. That jackpot was split by winners in Georgia and New Jersey.

The growing jackpot has drawn plenty of interest from would-be millionaires. On Monday, lottery officials announced that "stronger than expected sales" prompted them to push up Tuesday's jackpot up from an initial estimate of $356 million to $363 million.

"I see so many different faces every day, and it's not just Tuesday and Friday that they come in. It's every day of the week," Latasha Allen, a manager at a Columbus, Georgia, convenience store, told CNN affiliate WTVM-TV this week about the growing number of lottery players in recent days.

In Virginia, one of the 42 states where Mega Millions is played, lottery officials expect that about 5.8 million tickets will be sold on Friday alone, Virginia Lottery spokesman John Hagerty said. Two Fridays ago, on March 16, the state is believed to have sold about 1.3 million tickets for a jackpot that was, at the time, $200 million.

"Sales are very, very strong in Virginia. It looks like we're seeing a lot more people who don't normally play want to get in the game," Hagerty said Wednesday afternoon.

Friday's $500 million prize is payable as an annuity over 26 years. If a winner prefers, he or she could choose a one-time, lump-sum payment, which in this case would be $359 million. Both figures are before taxes.

This prize has been building since January 24 when a Georgia woman won a $72 million Mega Millions prize. She chose a $52 million lump-sum cash option.

Last year, the game stopped just short of breaking its record. A $380 million jackpot was split by two winners, one in Idaho and another in Washington, on January 4, 2011.

The biggest single-ticket win in the other nationwide lottery, the Powerball, was in February 2006 when a ticket held by eight workers at a Nebraska food plant paid a $365 million jackpot.

Mega Millions is played in 42 states plus the District of Columbia and the U.S. Virgin Islands.

A jackpot-winning ticket must match all five numbers drawn from a pot containing 56 balls and then match the Mega Ball, which is drawn from a pot containing 46 numbers. Odds of winning are almost 176 million to 1. Each ticket costs $1.

Jackpots start at $12 million and rise for subsequent drawings when jackpot-winning tickets aren't sold.
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Filed under: Lotto
soundoff (486 Responses)
  1. Benji

    Give God 10%.

    March 28, 2012 at 9:52 pm | Report abuse |
  2. kona16

    CNN obviously doesn't proof read their homepage? When was the prize 500 billion dollars?

    March 28, 2012 at 9:53 pm | Report abuse |
  3. Dylan Brown

    I would reserve about $200,000 for my family and myself, and distribute the rest for charities after careful deliberation. Also do something for homeless veterans.

    March 28, 2012 at 9:54 pm | Report abuse |
  4. ryanmcapple

    Invest it to make more, duh. I'm a greedy pig.

    March 28, 2012 at 9:55 pm | Report abuse |
  5. glendor

    I need this money!and I don't wear underpants,I just want to get hell fired up and hit wal-mart and get down wid [sic]
    some chitlins.Me be do'n some Opra Shiite Muslim stuff!ROFLMAO!

    March 28, 2012 at 9:55 pm | Report abuse |
  6. AR

    CNN, CNN.. do you ever read what you post?? "What would you do with $500 billion?"

    March 28, 2012 at 9:58 pm | Report abuse |
  7. Tracy

    500 billion ?? i thought this was a story about a spanish lottery or something . 500 billion I guess I would tell bill gates to get the fck out my way and buy the dodgers

    March 28, 2012 at 10:00 pm | Report abuse |
  8. Retiredonfixedincdome from GA

    Make a lot of people and organizations happy......if only for a short time.

    March 28, 2012 at 10:02 pm | Report abuse |
    • Jim in Roch cha cha

      Hey CNN geniuses, its $500M not $500B!

      March 28, 2012 at 10:18 pm | Report abuse |
  9. Lux

    500 billion????????? its million!!!!!!!!!!!!!!
    cnn's homepage changed m to b easily...not that easy.....

    March 28, 2012 at 10:06 pm | Report abuse |
    • digitel

      its cnn they lost half their viewers... they dont even try anymore

      March 28, 2012 at 10:11 pm | Report abuse |
  10. SSE

    The link on CNN's front page that I clicked on said "$500 billion" not million.

    March 28, 2012 at 10:06 pm | Report abuse |
  11. duckforcover

    Don't bother buying a ticket. God told me I'm going to win. Wait, or was it my doG?

    March 28, 2012 at 10:09 pm | Report abuse |
  12. tom

    did anyone notice that the cnn home page says "what would you do with $500 billion". in addition to spelling, one could invest in math and proof reading skills. the jack pot is $500 million.

    March 28, 2012 at 10:10 pm | Report abuse |
  13. Angela Kim

    I'd like to buy the world a coke

    March 28, 2012 at 10:11 pm | Report abuse |
  14. Meki60

    I would donate it to Solyndra, its got to enhance my status, look what it did for obama

    March 28, 2012 at 10:11 pm | Report abuse |
  15. tom

    they fixed it. but i printed a pdf copy.

    March 28, 2012 at 10:11 pm | Report abuse |
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