Feeling lucky? Powerball, Mega Millions combined jackpots climb to more than $1 billion
Lottery players looking for instant riches have a shot at combined jackpots of more than $1.5 billion.
The Mega Millions grand prize soared to $625 million ahead of Tuesday night’s drawing, becoming the fourth-largest jackpot in the game’s history, according to the lottery’s website. The stakes have continued to climb since a lucky winner in Wisconsin took home the top prize in September.
The Powerball jackpot is just as impressive, offering players an estimated $550 million grand prize. The winning numbers for that game will be drawn Wednesday evening.
“Since the jackpot was last hit, there have been more than 24 million winning tickets across all prize tiers, including 24 tickets that have won $1 million and 10 tickets that have won $2 million,” according to a Powerball news release. “If history repeats itself, the January 13 drawing could prove to be a lucky draw date for Powerball players.”
Officials said Wednesday’s drawing falls on the fifth anniversary of Powerball’s world record $1.586 billion jackpot, which was split among winners in California, Florida and Tennessee in 2016. The jackpot is now the highest it has been since March 2019, ballooning to what could be the ninth-largest grand prize in the history of the game.
The jackpots have cash values of $458.8 million and $411.4 million, respectively, after taxes. Grand prizes promoted by the lotteries only reflect the annuity option, in which winnings are paid out over 30 years, the Associated Press reported.
Carole Gentry, a spokeswoman for Maryland Lottery and Gaming, told the outlet that the prizes have grown considerably because neither has jackpot has been won in months. An increase in lottery ticket sales can also grow jackpots faster, Gentry said, according to AP.
Odds are slim
So what are your chances of becoming a billionaire?
The odds of winning a Powerball jackpot are 1 in 292.2 million and don’t change depending on how many tickets are sold, according to the lottery’s website. Chances are even slimmer for Mega Millions’ top prize: 1 in 302.6 million.
Players who still want a shot at the jackpots can purchase Mega Millions and Powerball tickets in 45 U.S. states, as well as Washington, D.C., and the U.S. Virgin Islands.
This story was originally published January 12, 2021 at 3:34 PM with the headline "Feeling lucky? Powerball, Mega Millions combined jackpots climb to more than $1 billion."