Mega Millions

From Free net encyclopedia

Image:Megamillions.gif Mega Millions (formerly The Big Game) is a lottery game in the United States. Several U.S. states participate in the game, which has high jackpots (a minimum of US$12 million) with low odds and nine ways of winning. The Big Game began on August 31, 1996 and had the largest jackpot (US$363 million) ever won in North America. The Big Game became Mega Millions beginning on May 15, 2002 with the first drawing on May 17. Ohio and New York joined at that time with Washington in September 2002 and Texas in December 2003. On June 22, 2005 California joined a revamped Mega Millions.

The largest Mega Millions jackpot to date was the US$315 million jackpot won in California on November 15, 2005.

Drawings are usually held at WSB-TV in Atlanta by the Georgia Lottery at 11pm eastern time on Tuesdays and Fridays. Usually, the announcer is WSB's chief weather forecaster, Glenn Burns. However, drawings may sometimes be held elsewhere. On June 24 2005, to commemorate California joining Mega Millions, the drawing was held in Hollywood, California with Glenn Burns and Carrie Underwood with brand new machines that the California Lottery purchased for this draw (and possibly any future drawings, using Mega Millions ballsets) or when the jackpot reached near record levels in 2004 (once in February and once in July) the draws were held in Times Square with New York Lottery draw host Yolanda Vega and New York's drawing equipment (minus the balls, which were Mega Millions ball sets).

The drawing pool closes 15 minutes prior to drawings, accounting for local time zone differences. Payouts are made over 26 years, but other options like cash vary from state to state. Unclaimed jackpots are refunded to each state to do what is required under their state laws. Tickets are one dollar in all states.

Laws and regulations vary slightly and are generally governed by the applicable laws in the state where the ticket is sold. Mega Millions winnings are generally exempt from state income tax in California and New Jersey; Texas and Washington have no state income tax.

Playing the game

To play the game, a player pays one dollar and picks five numbers from 1 to 56 and one additional number (called the mega number from 1 to 46 (the Mega Ball number). The player wins according to the following (except in California where all prizes are pari-mutuel, meaning payouts are based on sales and the number of winners. All other Mega Millions states set the 2nd through 9th prizes at pre-determined amounts.)

Unlike its main rival Powerball, an optional multiplier feature for non-jackpot winnings is only available in one state (Texas).

Overall odds of winning a prize are 1:40.

Jackpots are typically paid out in an annuity. Winners have the option to collect the jackpot a single lump sum payment. The lump sum payment is typically approximately 40%-60% of the annuity value. For the purchasing of shared tickets with winnings under $100 it is generally acceptable to initial the tickets before the drawing to determine which of the individuals will be the winner of the smaller pot. Winners in most states may make the choice of annuity or cash option up to 60 days after the drawing date. In Ohio, Georgia, and Washington, they have until 60 days past the date of claim. In New York and Texas the choice must be made at the time of purchase.

The minimum jackpot prize is US$12 million, disbursed in annual payments over 26 years, or a cash payout.

If more than one person wins the jackpot, the prize is equally divided among the winning tickets. Winners have between 180 days or 1 year to collect the jackpot, depending upon the applicable laws in the state where the winning ticket was sold.

Participating states

• California
• Georgia
• Illinois
• Maryland
• Massachusetts
• Michigan
• New Jersey
• New York
• Ohio
• Texas
• Virginia
• Washington

External link

• Official Mega Millions site