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Mega Millions grows to estimated $640 million

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http://www.boston.com/Boston/metrodesk/2012/03/mega-millions-jackpot-grows-estimated-million/M1NYuwowcx3M3GugxF634H/index.html

Tonights Mega Millions lottery jackpot has grown to an estimated $640 million, according to the Massachusetts Lottery.

 

The jackpot had already broken the record Thursday for the largest lottery prize in history.

 

The new estimate, which was $100 million higher than Thursdays, was announced this morning after officials from participating states spoke with each other and assessed the volume of ticket sales. Paul Sternburg, executive director of the Massachusetts Lottery, said the estimate was conservative and could rise even higher after all the ticket sales are tallied tonight.

 

Over the past three days, nearly $9 million in tickets have been sold in Massachusetts. As of noon, the total for the day was approaching $3 million. But the busiest time was expected to be between 5 p.m. and 7 p.m., Sternburg said. The sales figures are flying, he said.

 

He estimated that the days sales could eventually total $10 million to $15 million. Tickets for the game are $1.

 

If a winner is not drawn tonight, the jackpot will climb to nearly $975 million. He said that would be a problem for lottery agency billboards in other states that will not have enough digits to display the jackpot if it goes over $1 billion.

 

He said he would be surprised if theres no winner tonight, but anything is possible.

 

The winner of tonights drawing, if there is one, can elect to receive a lump sum of $462 million. Otherwise, the prize will be paid out over 26 years.

 

The odds of winning in the lottery game, which is offered in 42 states and the Virgin Islands and District of Columbia, are 1 in 176 million.

 

The drawing will be held tonight at 11:24 p.m.

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What would you do with an enormously large sum of money?


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I'd buy a house, move in with my boyfriend, have my own library in my house full of first editions, and then probably just do some travelling.


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I'd buy a house, buy a car, and then I'd begin construction on my grave.

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I'd be happy to know I have it and just know that I can buy a whole bunch of shit without having to worry. Probably would give a few mill to people I know and charity, I mean, I've got like 640 million anyway.

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and then I'd begin construction on my grave.

 

:unsure:


99 dungeoneering achieved, thanks to everyone that celebrated with me!

 

♪♪ Don't interrupt me as I struggle to complete this thought
Have some respect for someone more forgetful than yourself ♪♪

♪♪ And I'm not done
And I won't be till my head falls off ♪♪

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Is it bad that the first thing I thought was, "Imagine the PC I could get with that"?

 

I'd buy a property in Australia, move in with the GF, and have a property in Seattle and a few other places. Would probably blow it all on land and houses with Alienware for all the kids. :).


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Put it in the bank and go on with my life.


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Three months banishment to 9gag is something i would never wish upon anybody, not even my worst enemy.

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I would throw a bunch in the bank, and invest.

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That is a ridiculous amount of money. I'd probably travel for a while, set my family up nicely and then give a bunch away to charities and medical researchers. Then buy a nice house and pretty much become a recluse.


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Is it bad that the first thing I thought was, "Imagine the PC I could get with that"?

 

I've got several projects this would put into high gear. One of them would probably be a beowulf cluster, but instead of cheap components, I'd use half decent ones. :mrgreen:


99 dungeoneering achieved, thanks to everyone that celebrated with me!

 

♪♪ Don't interrupt me as I struggle to complete this thought
Have some respect for someone more forgetful than yourself ♪♪

♪♪ And I'm not done
And I won't be till my head falls off ♪♪

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I would throw a bunch in the bank, and invest.

What would be the point of investing with more money then the average person could possibly spend?


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Got my tickets.

 

First thing I'd do is get separated from the military (they actually do this), then I'd propose to my gf on the spot, and proceed in building/designing our dream house. Replace my old beat up 2000 Jeep with a new car, and throw the majority of it in the bank/stocks/investments. I'd give some to my family and close friends as well to make their lives easier. I'm sure I would do some traveling. Most of all, the biggest thing I would do is stop worrying, financially set for life...my future kids and family would be set as well. Retire at the age of 25? Sounds good to me.


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Guest Rob

I'm confused. How could the lottery possibly turn a profit with those numbers? They're selling ~15 million tickets a day with a $640 million jackpot? Am I missing something here?

 

$640 million sounds kind of awesome though. I can't even begin to imagine how it'd change my life.

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I'd buy Africa.

 

 

Or more lottery tickets.


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Buy a nice car, buy an awesome computer, save the rest, then do whatever to see this year out and head off to uni with no worries next year.


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Put it in the bank and go on with my life.

This.


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I'm confused. How could the lottery possibly turn a profit with those numbers? They're selling ~15 million tickets a day with a $640 million jackpot? Am I missing something here?

 

$640 million sounds kind of awesome though. I can't even begin to imagine how it'd change my life.

The lottery starts at a base of $12 million. I'm not sure if its ever worth less than that.

When people buy tickets, 50% of their ticket goes towards the jackpot. When no one wins, another (conservative) estimate of how many people will buy tickets is made, and a new jackpot is set.

 

When the lottery gets to a big number and no one wins, it starts making news. This is the largest amount ever available as a single prize.

 

The thing that allows this lottery to grow so fast is because it's available pretty much throughout the U.S. The previous jackpot was $363 million, which means about 550 million or more tickets have been sold since Tuesday.


99 dungeoneering achieved, thanks to everyone that celebrated with me!

 

♪♪ Don't interrupt me as I struggle to complete this thought
Have some respect for someone more forgetful than yourself ♪♪

♪♪ And I'm not done
And I won't be till my head falls off ♪♪

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and then I'd begin construction on my grave.

 

:unsure:

 

One I get a job, I am going to set aside a portion of my savings that will go toward my grave. Once I have enough money, I am going to construct said grave.

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What would I do with it? After it's taxed from the government and other settled things, I'd likely waste half of it within the very first week because I wouldn't be used to that pile to actually think in the long term. Responsibility-wise, I'd use it to pay off the rest of my mom's cancer treatment, pay the bills, then work on investing into a career (and dabble in more hobbies) I can enjoy. If I am not in debt by then, I'll just use the leftovers on saving in a (reliable) bank and just do random shenanigans every few months.

 

Yeah, depending on the economic situation people are in, most would likely gush it right away. At least my boredom issues would require me to be cheap (that definition might vary given the money pile) to avoid doing too many zany shenanigans. Given my eccentric and hedonistic personality, staying out of debt would be rather challenging...

 

Weird the first thing to come to mind on that question was 10+ weird outfits, a PC, and high-quality sweets. :unsure:

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Yeah, depending on the economic situation people are in, most would likely gush it right away. At least my boredom issues would require me to be cheap (that definition might vary given the money pile) to avoid doing too many zany shenanigans. Given my eccentric and hedonistic personality, staying out of debt would be rather challenging...

I'm sure it's more difficult than you'd think to spend hundreds of millions of dollars right away :P Hundreds of thousands - sure. You can easily spend that on clearing debts, getting a house/car, all the games you want, etc. But half a billion dollars? That's a lot :P


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Buy a house, furniture, and a car (nothing would be that fancy really).

Buy a wardrobe of everything I want, nothing stupidly expensive.

Live comfortably for the rest of my life, enjoying buying what I want when I want. I'd enjoy being able to afford any Magic cards I want so I'd be able to compete at a professional level and spend most of my days doing that, travelling, and record shopping.

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Yeah, depending on the economic situation people are in, most would likely gush it right away. At least my boredom issues would require me to be cheap (that definition might vary given the money pile) to avoid doing too many zany shenanigans. Given my eccentric and hedonistic personality, staying out of debt would be rather challenging...

I'm sure it's more difficult than you'd think to spend hundreds of millions of dollars right away :P Hundreds of thousands - sure. You can easily spend that on clearing debts, getting a house/car, all the games you want, etc. But half a billion dollars? That's a lot :P

 

Yeah, but most would still be overwhelmed by the massive amount of money they won and would think "It's just a few hundred here. I've got plenty". Even if half a billion is a large sum, it's still rather easy to get overboard when many think they have it in control. It might be worth finding some information about what percent of 100 million+ winners end up in heavy debt after the winnings.

 

Maybe I am just being a bit too cynical about this and would follow in the same path because I think it's a hundred percent inevitable.

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My head would explode once I started to comprehend just how much money that is, and then it would be my family's problem :thumbup:

 

Oh god, I forgot to imagine how annoying your family and neighbors would be begging you for a hundred here and there. Assuming you can receive the millions privately, I doubt I could have any peace knowing certain family members like to talk too much. Come to think of it, I would rather just return the money and take 10 million at most to avoid the massive irritation.

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Unless you're an idiot you're set for life. $462 million lump sum payment (why isn't this the full amount?) Blow $12 million and you can still invest the remaining $450 million in US treasury bonds at 3.125% (probably the safest investment available). You're going to be receiving $14 million in interest a year. Personally I'd buy my parents, various family members and myself a house. Then I think I'd finish university before going on holiday for a while.


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