LANSING, May 9, 2000 – The records just keep tumbling! Excitement surrounding tonight’s Big Game jackpot continues to grow as sales in the Big Game states maintain a solid pace heading into tonight’s 11 p.m. drawing.
The Big Game jackpot estimate for tonight has been revised to $350,000,000!
"No question about it, lottery players are focused on The Big Game today!" said Michigan Lottery Commissioner Don Gilmer.
"I’m sure the jackpot makes it fun for people to speculate about what they can do with this much money, but I’d like to take a minute to remind everyone to please play responsibly," Gilmer added. "We don’t want anyone wagering more than they can afford to spend."
It’s also important to remember that in addition to prize-winners, there is another very important beneficiary of such a jackpot run. In Michigan, all lottery net profit is transferred to the state School Aid Fund, a restricted government fund which means the dollars can only be used for the state’s public education (K-12) programs.
The Big Game jackpot was last won on March 3, 2000; since that time, Michigan Lottery Big Game sales during the jackpot run are estimated at $82.5 million. Of that, roughly 35 percent – or $29 million – will go to the state School Aid Fund. Since the Lottery’s inception in 1972, more than $9.2 billion in Lottery profit has been generated in support of Michigan’s schoolchildren.
If one winning ticket matches all six numbers in tonight’s drawing and the player has selected annuity payments over 26 years, the $350 million jackpot would amount to pre-tax payments of roughly:
- $13.5 million per year;
- $259,000 per week; or
- $37,000 per day
For those who prefer to take their cash winnings up-front, it’s an exceptional payday as well. If one lucky cash-option player matches all six winning numbers, he or she will take home a check for approximately $173 million (before taxes), the estimated present cash value of Tuesday’s $350,000,000 jackpot. (The Michigan Lottery is required by law to withhold estimated federal tax of 28 percent and estimated state tax of 4.2 percent, on any prize over $5,000.)
Big Game tickets are available in Michigan, Georgia, Illinois, Maryland, Massachusetts, New Jersey and Virginia. Tuesday’s drawing will be conducted at 11 p.m. and broadcast on cable superstation WGN out of Chicago as well as a network of Michigan stations (check local listings). For more information, you can also visit The Big Game’s new Web site at:
www.theofficialbiggame.com.
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