Ticket buyers dreaming big as Mega Millions jackpot jumps to $640 millionFargo, ND (WDAY TV) - Mega-Millions Fever is taking over the country as overnight the jackpot has reached a record $640 million, almost $300 million more than it was just on Tuesday. The amount of people buying these tickets is absolutely insane.
Mega-Millions Fever is taking over the country as overnight the jackpot has reached a record $640 million, almost $300 million more than it was just on Tuesday. The amount of people buying these tickets is absolutely insane.
The after work crowd has been non-stop since we got here at this Stop-N-Go in South Fargo shortly before five. Everyone has at least a slight idea of what they want to spend it on.
Don Drummond – Mega Millions Player: “I'd pay off the house and put the rest away and maybe set some of my family members up and maybe give some to the church.”
For the people we caught up with today, $640 million isn't going to buy them anything outlandish. No Lambourghini's or million dollar mansions in the Hollywood Hills.
Mike Semanko – Mega Millions Player: “Pay the bills, take care of my kids, take care of my mom and dad and relax.”
Brittney Held – Mega Millions Player: “Paying off college and my car and handing it out to my family.”
Most we talked to today are not regular players. A $40 million jackpot doesn't scream "I have to play" quite like $640 million.
Mae Haagenstad – Mega Millions Player: “I usually play the 2x2 by I spent my last dollar on Mega Millions.”
Don Drummond: “I got a little gambler in me and the gambler in me thinks that playing when it's big you can get that big score.”
The chances of winning are 1 in 176 million. According to the Wall Street Journal, with more than 600 million tickets expected to be sold across the nation, the chance of their being at least one winner is about 94%. Most buying the tickets realize the near impossibility of victory.
Justin Thompson – Mega Millions Player: “Figured why not, got an extra cash payday; see what it gets for me.”
If there is a single winner, the lump sum payout after taxes would be almost $324 million. Now there is still almost three hours to pick up tickets as sales stop at 9. Of course, we'll have your winning numbers tonight at 10.
What should you do if you're the lucky winner of the jackpot? The first thing is get a laywer, second, find a financial planner.
Financial Planners say it's important not to make any promises you might not be able to keep. It’s suggested you don't make any immediate purchases, wait at least a month, let everything soak in, before you go on a spending spree.
Ryan Berg – CFP Ranstrom Financial Planning: “Single lump sums of money are real dangerous for people to handle. It's usually spent, it's usually gone.”
Berg says nearly half of first generation people that come into a large sum of money, will spend it all in their lifetime.