The Mega Millions jackpot has surpassed $1 billion for the fifth time ever

The Mega Millions lottery jackpot has surpassed $1 billion for the fifth time in its history.

Record-breaking jackpot: Following no winner from Friday’s drawing, the Mega Millions lottery jackpot has reached over $1 billion.
* This is the fifth instance in the game’s history where the jackpot surpassed the billion-dollar mark.
* If a winner is selected in Tuesday night’s drawing, they’ll have the option to collect $1.05 billion over 30 years, or take a lump sum payment of $527.9 million.

Previous wins and odds: Other smaller prizes have already been won, while the lottery winner’s chances are roughly 1 in 300 million.
* Recent wins included a $5 million prize in Pennsylvania and four $1 million prizes in Arizona, California, New York, and Pennsylvania.
* Any buyer of a single Mega Millions lottery ticket has a 1 in 300 million chance of winning.

The catch and expert opinion: While technically achievable, buying every ticket to guarantee a win is discouraged due to high costs and logistic difficulties.
* At $2 per ticket, over $600 million would be spent to buy the required 300 million tickets, but a win of $1 billion could still result in a profit.
* However, Harvard statistician Mark Glickman notes that if another person wins simultaneously, winnings would be halved, wiping out any profits.
* Also, filling out 300 million individual tickets would present a significant time issue.

Historical context: This record comes two weeks after a California Powerball winner bagged $1.08 billion and another Californian won a staggering $2.04 billion in November 2022.
* This $2.04 billion Powerball jackpot is the largest lottery prize ever won.

View original article on NPR

This summary was created by an AI system. The use of this summary is subject to our Terms of Service.

Contact us about this post






Leave a Reply

Your email address will not be published. Required fields are marked *