Mega Millions mania grips the nation as jackpot approaches $1 billion

Mega Millions mania grips the nation as jackpot approaches $1 billion

Mega Millions mania grips the nation as jackpot approaches $1 billion

The estimated jackpot for Friday's drawing would be the second-largest lottery prize in United States history.

This will be the second largest lottery jackpot ever offered in USA history.

The largest USA lottery prize was a $1,586,000,000 (£1,217,000,000) Powerball jackpot paid out to three lucky winners in 2016.

Winners are offered two options: take the $970 million in payments spread over 30 years or as a lump-sum of $548 million. If the jackpot holds at $975 million, it would be $513 million.

The odds of winning the LOTTO MAX are 1 in 28 million.

The giveaway happens from 10 a.m.to 2 p.m.at Schnucks, 2642 Charles St.

Melissa Labant, a tax policy expert at the American Institute of Certified Public Accountants, said winners should realize that while taxes initially are withheld when prizes are awarded, more money likely will be due at tax time as people suddenly find themselves in a higher tax bracket. The lottery officials who run Mega Millions tweaked the rules and odds of the game last October to make jackpots pay out less frequently, spurring their monster growth.

The prize is so big that Kurland said he will probably buy a ticket himself.

The jackpot hit a whopping $868 million on Wednesday, and the prize tempted so many people to buy Mega Millions tickets that the jackpot was increased yet again.

Lottery officials recommend winners take a deep breath, put their winning ticket in a safe spot, and consult with a reputable financial planner before popping over to the lottery headquarters.

He calls these gamblers "infrequent players", and their participation helps boost jackpots to historic levels, he said.

Tipsters claim that the odds of winning both jackpots is one in 88 quadrillion, which is 88 followed by 15 zeros for the mathematically-challenged amongst us. You can pick your own numbers or the computer will do it for you.

The jackpot goes to a victor who matches the five numbers and the Powerball number.

KDKA money editor Jon Delano admits he nearly never buys lottery tickets.

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