BAD IDEA OF THE WEEK: Thinking the lottery is all that

The Mega Millions jackpot is juicy, but thanks to new, longer odds, it's entirely possible the payout could reach US$1 billion by Christmas. Nope, that wasn't a typo - "b" as in "boy." When no winner was selected in Friday's drawing, the jackpot rolled over to US$550 million, and it jumped again yesterday to US$586 million, with a cash payout of US$316.5 million, said Tandi Reddick, a spokeswoman for the Georgia Lottery. The total could easily increase again before tonight's (local time) drawing. But seriously, the jackpot isn't really all it's cracked up to be because more than one ticket might win it, meaning there's less for you. And in a disadvantage mainly concerning America, the jackpot is only that big for the annuity option (which means they pay out x amount each year over a period of x years instead of the present value in one huge lump sum) and you won't end up with all of it because lottery winnings in America above US$6000 are taxed at a rate of at least 25%. So don't think you'll get all that you bargained for because you won't.