One other day, one other large lottery jackpot.
Subsequent up is an estimated $1.12 billion Mega Tens of millions prize on Tuesday evening, attractive gamers who hope to win the eighth-largest prize in U.S. lottery historical past although nobody has received the jackpot since Dec. 8, 2023. That’s 30 consecutive drawings with no jackpot winner.
Miss out on that drawing? No downside. There shall be a drawing Wednesday evening for an estimated $865 million Powerball jackpot. Nobody has received that prize both since New 12 months’s Day, making for 36 drawings with no winner.
For each video games, the lengthy drought of jackpots isn’t any accident. The video games have lengthy odds particularly to create giant jackpots that may generate a lot of curiosity and gross sales.
For Mega Tens of millions, the chances are 1 in 302.6 million, and for Powerball they’re 1 in 292.2 million.
The $1.12 billion Mega Tens of millions prize is for a sole winner who chooses to be paid by way of an annuity over 30 years. A winner who opts for a money payout would get $537.5 million.
These winnings can be topic to federal taxes, and a few states additionally tax lottery winnings.
Mega Tens of millions is performed in 45 states plus Washington, D.C., and the U.S. Virgin Islands. Powerball is also performed in these states in addition to Washington, D.C., the U.S. Virgin Islands and Puerto Rico.
