The huge numbers of the US MegaMillions when viewed in rands

South Africans will know that the current exchange rate can make the jackpot prizes in lotteries around the world become even bigger when converted to the rands.

While the rate fluctuates on a daily basis, it’s obvious – week in and week out that prizes in US dollars – get even fatter when changed to good old ZARs.

Take a look at some of the biggest MegaMillions prizes in history and you’ll soon see the ballooning of the cash amounts.

In excess of R20 billion was pocketed in South Carolina in 2018, when a player who chose to remain anonymous won approximately $1.5 billion.

Three years later, in 2021, a syndicate in Michigan by the name of Wolverine FLL Club landed around R15 billion ($1.05 billion). “This kind of money will impact the families of our club members for generations to come,” said a representative of the syndicate. “We plan to stay humble and pay it forward.”

Almost R1 billion went the way of three separate winning tickets in 2012. These were spread across Kansas, Illinois and Maryland for an effective $656 Million. Two of the three were won via the quick-pick process. “Each of the winners gets roughly $105.1 million in cash after taxes, but who cares about pennies at this point,” said a spokesperson at the time.

And then there was that time in California and Georgia, in 2013, when two winners won about $324 million. South Africans can quickly do the math there, based on a relevant exchange rate of one dollar to 15 rands, and see that it’s the kind of money worth quitting your job over. “I’m really sorry boss. I hit the jackpot. I don’t think I’m going to come in today, tomorrow, or ever,” one of the US winners told his employer at the time.

You hopefully get the picture by now, about how big these US prizes are when switched to South African rands. From here on in, just the dollar amounts will be referenced for context.

Onto another syndicate – this one comprised 11 co-workers in 2018. They split their $543 million collective prize after featuring in the biggest USA Mega Millions results. This was a great office pool to be in. They all worked at Wells Fargo in San Jose at the time. That’s a financial services company in the US, much like KPMG is in South Africa.

We’re getting into some smaller numbers now. Well, smaller than the ones mentioned above but still more than big enough to be life changing for their fortunate recipients.

An Indiana couple picked up a $536 million win via a law firm they hired in 2016. This was in order to retain their anonymity. The couple were on a road trip when they entered the MegaMillions draw. What a great decision that was.

In the United States, MegaMillions winners – for the most part – are afforded the option of taking their winnings as lump sums or installments. In 2018, a man from New Jersey won and opted for a lump sum of $175 million after taxes. With some of the cash, he rebuilt a 1964 Corvette – what a car. With some of the rest, he chose to make charitable donations.