Jackpot rises on 'Mega Millions' lottery in US; breaks record

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Friday, August 31, 2007

In just over 24 hours, the Mega Millions lottery jackpot in the United States has risen to US$330,000,000 to make it the third largest lottery jackpot in the world.

On Thursday, the jackpot was at $325 million and it still could rise before the drawing takes place tonight at 8:00 p.m. (pacific time), 11:00 p.m. (eastern time).

Twelve states in the U.S. participate in the lottery and the odds of at least one person winning the jackpot are one in 175,711,536. It costs just one dollar to purchase a ticket and if you win, you can receive the winnings in sums of 36,000 for every million won, each year, or receive it all in one lump sum which totals just under $200 million before taxes.

On March 6, 2007, the Mega Millions jackpot of US$390 million, the highest lottery jackpot ever in the world, was paid out to two individuals who lived in Georgia and New Jersey. If no one wins Friday's jackpot, which will have rolled over 16 times without a single winner, it could break the record for the largest lottery jackpot ever.