Huge Jackpot Means Dreams For Players, Real Payouts For Minn.

MINNEAPOLIS (WCCO) — Everybody knows it’s the longest of long shots, but that doesn’t stop lottery ticket holders from dreaming of what they would do with a $640 million jackpot.

Friday night’s Mega Millions drawing is the richest jackpot in world history.

Minnesota is one of 44 states that participate in Mega Millions, and the state will sure benefit. For every $1 ticket sold in Minnesota, the state gets 24 cents.

“Of that money, 40 percent of it goes to the environmental trust fund and the remainder goes to the state general fund,” said Ed Van Petten, director of the Minnesota State Lottery. “So certainly there is a lot of benefit to the State of Minnesota.”

Van Petten estimates that there’s been well over $5 million in Mega Million ticket sales in Minnesota ahead of tonight’s drawing. There was more than $500,000 in sales Friday morning alone, Van Petten said.

And a Minnesota winner would mean a win for Minnesota.

“Hopefully we will have a jackpot winner here, and then the state would reap the benefits of a lot of income tax,” Van Petten said. “Probably about $35 million.”

As of 11 a.m., the jackpot was bumped up to $640 million. Ticket sales end at 9 p.m.

State Lottery Director Ed Van Petten talked with Newsradio 830 WCCO’s John Hines.

More from Adam Carter
  • politicianSUX

    and how much would a minnesota winner get after taxes on the cash payout?

    • 313 M after Tax...

      ..but I think you would still have to pay more at the end of the year in income taxes?? This amount assumes 25% Fed Rate, but they would get you for another 10% on April 15th, 2013, to hit the highest tax bracket of 35% (I think).

      I’d take it.

  • goop

    Imagine how this has the potential to ruin your life. I bet you would be sued hundreds of times and hounded day and night for money. How could you trust anyone, especially the people you would need to actually watch over your money. Not like you can stick $250000000 in the bank. You would have to trust strangers to invest it.

    I think of all the fun things and wonderful life I could have if I won but at the same time I know it would add a whole new meaning to the word stress. You would have to live an anonymous life afterward..

    • 1twinsfan

      I agree. This is one time I hope to come up with only four numbers and the megaball as opposed to matching all of them. It would be a lovely, gilded prison but a prison none the less for the big winner.

    • Brian

      I could live anonymously without a problem. My big dilemma would be trying to decide to dress up in my Darth Vader costume or Michael Myers garb…

    • Kate

      It’s a risk I’m willing to take :)

  • Luke

    on that note, time to go buy my ticket to freedom

  • Veteran

    So, with all the taxes or portion of profits collected on the sales, will our taxes get lowered this year? Doubt it, I’m sure the politicians will find clever social programs to buy votes for their next election

  • BKinMN

    World history?? I hope I don’t lose my winning ticket to somebody in Timbuktu. No taxes to the winner there. Tongue & cheeck, of course.

  • Jeff "Gangsta" J

    I wonder how many people on public assistance have purchased tickets so far? I saw a lot of welfare mama’s at the SA in Columbia Heights today buying up tickets today. I thought that money was meant for food for their illegitimate children, not lottery tickets…..hmmm……..

  • Real Deal

    If I won the jackpot I would buy Andy Keller and marine -0311 a psychiatrist so they could deal with there anger and hatred of the government.

  • Corey

    After I win I’ll be buying north MPLS and bulldozing it to the ground

    • Mad dog

      Now that sounds like a good start, but go a little north.

blog comments powered by Disqus
Thursday Night Football

Listen Live