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Mega Millions jackpot jumps to $640M as time runs out
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Mega Millions jackpot jumps to $640M as time runs out

Mega Millions jackpot jumps to $640M as time runs out
(Photo) Mega Millions ticket

Mega Millions jackpot jumps to $640M as time runs out

Lottery officials say they are increasing the Mega Millions lottery jackpot to $640 million, raising what was already a world-record prize.

The jackpot had stood at $540 million before this morning's announcement. The previous record jackpot was $390 million in 2007.

A drawing for the fortune is set for 11pm ET (10pm Tulsa) in Atlanta.

The odds of winning the jackpot had been set at about 1 in 176 million. Georgia Lottery CEO Margaret DeFrancesco cautions against spending more than $5 dollars on tickets saying anything more than that doesn't really increase your odds of winning.

Meanwhile, at the Oklahoma Lottery Commission today, advertising manager Katy Smith says "Everybody is just very excited about the large jackpot!" Oklahoma gets a 35% cut of all Mega Millions tickets sold in the state. And, if the winning ticket happens to be sold here, Oklahoma would collect 4% of the jackpot for state income tax. In this case, that would be a windfall of $25.6 million dollars for the state.

Mega Millions has drawn long lines of lottery players in stores in the 42 states plus Washington, D.C., and the Virgin Islands where tickets are sold. The world-record jackpot has also lured some residents to travel to other states to buy $1 tickets.

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