Mega Millions Reaches $1B: Enough To Buy All Single-Family Homes Listed In Sacramento
SACRAMENTO (CBS13) - What would be the first thing you'd buy if you won the Mega Millions jackpot, which as of Friday morning has hit the $1 billion mark?
A billion dollars is a lot of money, but a number that large is actually pretty hard to quantify.
To put things into perspective, that jackpot could buy you all of the single-family homes listed on the market in Sacramento County at the moment, according to appraiser Ryan Lundquist.
If you win the lottery at $970M, you can buy 70% of all single family listings on the market right now in #Sacramento County. That would be 2,080 homes. Of course lots of listings are overpriced, so you might get more.
— Ryan Lundquist (@SacAppraiser) October 18, 2018
That's more than 2,000 homes.
Of course, the $1 billion jackpot refers to the annuity option, which pays out that amount over 29 years. Most people will probably just take the cash option, which according to the lottery would pay out $565 million.
The reason why the Mega Millions jackpot has gotten this high is because no one has matched all six numbers since July 24.
Your odds of winning? One in 302.5 million.