Nearly $2B up for grabs as Mega Millions and Powerball jackpots soar

The stars person aligned successful the lottery beingness similar ne'er before, with 2 jackpots totaling astir $2 billion.

With an estimated $1.1 cardinal Mega Millions prize and an estimated $800 cardinal Powerball jackpot, it's the archetypal clip the 2 astir nationalist lottery games person each grown truthful ample astatine the aforesaid time.

Both monolithic prizes are the results of months without a large winner, but the larger jackpots entice much radical to play the games, expanding the accidental that someone, somewhere, volition yet deed it rich.

WHEN ARE THE DRAWINGS?

Up archetypal is the Mega Millions drafting connected Tuesday night, followed by Wednesday night's Powerball drawing.

TWO MASSIVE PRIZES

Lottery prizes person been larger than the existent jackpots, but it's the archetypal clip some games person offered apical prizes of $800 cardinal oregon much since the games were created decades ago.

The prizes person grown truthful large due to the fact that it has been months since anyone has won a jackpot.

The past Mega Millions jackpot victor was connected Dec. 8. Since then, determination person been 30 consecutive drawings without a victor of the expansive prize. No 1 has won the Powerball jackpot since Jan. 1, making for 35 consecutive drawings without a large victor of the game, which holds 3 play drawings.

The Mega Millions prize ranks arsenic the 8th largest successful U.S. lottery past and is astir fractional the size of the largest jackpot, a $2.04 cardinal Powerball prize won successful November 2022.

"There's ever an aerial of excitement astir the state erstwhile the Mega Millions and Powerball jackpots soar simultaneously," said Gretchen Corbin, president of the Georgia Lottery Corporation and pb manager of the Mega Millions Consortium.

THE DISMAL ODDS

It's nary enigma wherefore months person passed without a jackpot victor - the likelihood of snagging the large prizes are terrible.

For Mega Millions, the likelihood of matching each six numbers are 1 successful 302.6 million. Powerball has somewhat amended likelihood of 1 successful 292.2 million.

To enactment those likelihood successful perspective, lottery officials enactment that aft a triumph erstwhile jackpots reset astatine $20 million, full summons income typically screen little than 10% of each the imaginable fig combinations. As jackpots ascent to $1 cardinal oregon more, income summation dramatically but inactive usually screen lone astir fractional of the imaginable combinations.

That means, determination is inactive a bully accidental nary 1 volition deed a jackpot.

Of course, millions oregon radical bash triumph smaller prizes that scope from $2 to $2 million. Players of some games person astir a 1 successful 4 accidental of winning immoderate benignant of prize.

And remember, careless of however ample jackpots grow, the likelihood of an idiosyncratic summons winning ne'er changes.

THE WINNINGS

As monolithic arsenic the jackpots are, winners should brace for overmuch smaller payoffs than the figures advertised connected billboards.

That's due to the fact that the authorities lotteries that tally the games beforehand the full payoff if the prize is paid done an annuity implicit 30 years. That fig is present astir treble the currency prize, which astir each winners take due to the fact that they privation to put the wealth themselves alternatively than opt for a defined payout.

For Mega Millions, that means the $1.1 cardinal jackpot really would wage retired an estimated $525.8 cardinal currency prize. For Powerball, the $800 cardinal annuity prize would mean an estimated $384.8 cardinal currency prize.

Those prizes volition beryllium taxable to national taxes, and galore states besides taxation lottery winnings. There besides is simply a accidental that aggregate players volition deed a jackpot, which would past beryllium divided betwixt the winners.

THE GAMES

Mega Millions is played successful 45 states positive Washington, D.C., and the U.S. Virgin Islands. Powerball besides is played successful those states arsenic good arsenic Washington, D.C., the U.S. Virgin Islands and Puerto Rico.

The Mega Millions numbers are drawn astatine a TV workplace successful Atlanta and Powerball draws numbers astatine a Florida Lottery workplace successful Tallahassee.

Profits from the games money authorities programs.