Mega Millions, More Like Mega Billions

Tonight's Mega Millions jackpot has the biggest jackpot in U.S. history at 1.6 billion dollars.

According to CNN, no one has won the Mega Millions jackpot since a group of co-workers from California won on July 24th. A bunch of us here at work kicked in $5 each to buy tickets so maybe will be the next group of co-workers to win.

A couple of times on the air this morning I touched on an article I found in Business Insider. The article explored the possibility of buying every possible combination for tonight's drawing. In order to do that, you would have to buy 302,575,350 tickets. That would cost you 605 million dollars.

According to Business Insider, you would also win a lot of secondary jackpots for matching five numbers but not getting the Mega Millions ball, and that would add another 75 million dollars to your winnings.

But after taxes, Business Insider states that if you took the lump sum payout, you would lose about 18 million dollars. And if someone else hit the jackpot and you had to split it, you would lose a lot more.

Again the odds of winning Mega Millions are in 1 in 302.6 million, but hey, someone is going to win it eventually.

And by the way, tomorrow night's Powerball Jackpot is up to 620 Million.

[via Business Insider / CNN]