ibusinesslines.com December 14, 2018

Billion Dollar Winning Lottery Ticket Sold

27 October 2018, 06:19 | Kelvin Horton

Billion Dollar Winning Lottery Ticket Sold

Lottery office pools increase odds and possibly headaches

Mega Millions set a record for lottery jackpots after nobody won the US$1 billion prize on Friday.

The numbers drawn Tuesday night were 5, 28, 62, 65 and 70, and the Mega Ball was 5. In all, 407,312 tickets won prizes in North Carolina, ranging from $2 to $1 million and totaling $4.1 million.

A flimsy little piece of paper that crossed the counter of a convenience store on a country road in SC is now worth US$1.537-billion, so lottery officials could hardly be blamed Wednesday if anxiety tinged their excitement.

The stunning lump-sum cash payout, should the lucky victor choose to take it: almost $878 million.

Since Mega Millions modified the formula, players now pick five numbers from 1 to 70 and a Mega number of 1 to 25.

Tonight's drawing (Oct. 24) is worth an estimated $620 million.

The $1.58 billion Powerball jackpot in January 2016 remains the largest lottery jackpot ever.

The ticket costs $2 each and they are sold in 44 USA states, as well as Washington, DC and the Virgin Islands.

The South Carolina Education Lottery is reporting that a winning ticket to the $1.6 billion Mega Millions jackpot was sold in the Palmetto State. The jackpot is a staggering $1.6 billion - with a one-time cash option of $913 million.

Winners in Maryland have 182 days after the drawing date to claim their prize. They can take $828 million in a lump sum or receive the full $1.537 billion in annual installments over the next three decades. A ticket sold in OH is among the 36 second-prize tickets worth $1million each.

SC is one of seven states that don't require lottery winners to be publicly identified, CNN affiliate WIS reported.

It costs $2 to play the game, but the odds of matching all six numbers and taking home the grand prize is a dismal 1 in 302.5 million. The winning ticket is said to have been purchased at a South Carolina Convenience store.

No one has matched all six Mega Millions numbers since July when a group of 11 co-workers won a $543 million (£415.4m) prize. It's the largest U.S. lottery jackpot ever.

The prize is extraordinary by any measure, but particularly so for SC, where it would be enough for an exceedingly generous victor to shower roughly US$307 on each of the state's five million people.

The Mega Millions' odds were lowered a year ago to 1-in-303 million from 1-in-259 million to generate larger prizes.

"The record-breaking jackpot caused a rush for ticket sales and it was estimated before the draw that 75 percent of all number combinations would be covered for this draw".

Below are the winning Mega Millions numbers for Tuesday, October 23.

Josh Barro at New York Magazine recommended that any victor take the annuity for a number of reasons.

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