$99 Million Mega Millions Lotto May Spell 401(k) Relief
One ticket with all six numbers in Friday night’s multi- state Mega Millions draw was sold in Ohio and its owner must decide whether to accept the estimated cash value of $22.7 million or receive 26 annual payments of approximately $1.346 million each before taxes.
Six tickets — one each in California, Arizona, Missouri, New Jersery, New York and Wisconsin — had five numbers, but didn’t have the Mega number.
The one sold in California is worth $627,280, while the other five are each worth $250,000, California Lottery officials announced. California law requires most major payoffs of lottery games to be paid on a pari-mutuel basis.
Many people in the Coachella Valley rushed out buy to a ticket — some out of habit, and others hoping to offset major losses caused by this week’s dip in stocks.
“We got the golden ticket,” said Jolie Marzo, who is from Palm Desert.
It costs only a dollar — and that small investment could reap big rewards.
“I figured, what the heck,” said Mike Coffman, who is from Desert Hot Springs.
On Thursday, stocks fell 512 points and caused individuals to lose thousands and in some cases millions of dollars.
Savings crashed, and some retirements wiped out.
Small gains were made as the market closed on Friday.
Still, customers were in and out of Jensens on Cook Street in Palm Desert — looking for a big payoff.
“I’m not invested in the stock market, but if I was, I would be in trouble,” said Coffman.
“It’s like a dream,” said Chris Gilfillen, who is from Palm Desert. “It’s the only way we could amass that money, you know, most people. So, it’s the easiest way, but the odds are probably the worst.”
The last Mega Millions drawing that produced at least one jackpot-winning ticket was in April.
Someone out of Staten Island, N.Y., won $72 million.
The largest winning drawing ever is $390 million, which happened in 2007 — two people split the pot.
“This is gonna offset what happened (in the stock market) a little bit,” said Marzo. “Or, I’m gonna really buy while it’s low.”
The winning numbers for Friday are: 6, 24, 28, 33, 42 and the mega number is 19.
