Record Jackpots
The largest Mega Millions jackpot, advertised as $640 million at the time of the drawing (annuitized) or $462 million (cash value), was drawn on Friday, March 30, 2012. The initial estimate for this drawing (following the March 27 drawing, which was $363 million annuity) was $476 million (later increased to $500 million and again to $540 million); brisk ticket sales pushed the jackpot values, both annuitized (to $656 million) and the cash option ($474 million) higher. The amount spent on Mega Millions for drawings following its most recent jackpot win, on January 24, 2012, was at least $1.5 billion. Three jackpot-winning tickets had been confirmed (one each in Illinois, Kansas, and Maryland.)
Mega Millions' second-largest jackpot, $390 million, was for the March 6, 2007 drawing. Two tickets, one each from Georgia and New Jersey, split the then-record prize; both sets of winners chose the cash option, splitting $233 million. (As noted below, interest rates change, resulting in different ratios between the cash values and annuity values of jackpots.)
Mega Millions' third-largest jackpot annuity value ($380 million), and second-largest cash jackpot ($240 million), was for the January 4, 2011 drawing; two tickets, one each from Post Falls, Idaho, and Ephrata, Washington, matched all six winning numbers, winning $190 million (annuity) each. The holders of each ticket also chose the cash option.
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