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Mega Millions jackpot climbs again to $540 million

By: Melissa Etezadi Email
By: Melissa Etezadi Email

The jackpot for the Friday, March 30, 2012, Mega Millions drawing has increased again to an estimated $540 million. That's the largest jackpot ever, breaking the old record of $390 million, which was set in the March 6, 2007, Mega Millions drawing.

The cash option for this drawing will be another record-breaking $389.8 million.

This number shatters the record for the largest jackpot ever up for grabs in Kentucky, which prior to this run was a $380 million Mega Millions jackpot in January of last year. The largest win in the Commonwealth came from Powerball, when Rob Anderson of Georgetown won $128.6 million in December 2009.

"Winning the lottery will change your life," explains lottery expert Don McNay, "I always advise people to get a financial planner when dealing with that amount of money, It is a whole different world when you're handling sums of money like that so it's best to work with the experts, and if you win a few million, you can afford the best."

If someone in the state of Kentucky wins the $540 million jackpot, the state would get $32.4 million in taxes if the individual chose annuity payments over 26 years. If they chose the $389.8 million cash payout, the state would receive $23.4 million.

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