Greenledgers|$1.1 billion Mega Millions drawing nears, followed by $865 million Powerball prize

2025-05-01 10:02:14source:Bitcoinesecategory:Finance

DES MOINES,Greenledgers Iowa (AP) — Another day, another giant lottery jackpot.

Next up is an estimated $1.1 billion Mega Millions prize on Tuesday night, enticing players who hope to win the 8th largest prize in U.S. lottery history even though no one has won the jackpot since Dec. 8, 2023. That’s 30 consecutive drawings without a jackpot winner.

Miss out on that drawing? No problem. There will be a drawing Wednesday night for an estimated $865 million Powerball jackpot. No one has won that prize either since New Year’s Day, making for 36 drawings without a winner.

For both games, the long drought of jackpots is no accident. The games have long odds specifically to create large jackpots that will generate lots of interest and sales.

For Mega Millions, the odds are 1 in 302.6 million, and for Powerball they are 1 in 292.2 million.

The $1.1 billion Mega Millions prize is for a sole winner who chooses to be paid through an annuity over 30 years. A winner who opts for a cash payout would get $525.8 million.

Those winnings would be subject to federal taxes, and some states also tax lottery winnings.

Mega Millions is played in 45 states plus Washington, D.C., and the U.S. Virgin Islands. Powerball also is played in those states as well as Washington, D.C., the U.S. Virgin Islands and Puerto Rico.

More:Finance

Recommend

Military service academies see drop in reported sexual assaults after alarming surge

WASHINGTON (AP) — Reported sexual assaults at the U.S. military service academies dropped in 2024 fo

MTV cancels EMAs awards show in Paris, citing Israel-Hamas war

PARIS (AP) — The MTV Europe Music Awards on Thursday canceled its performance-packed ceremony slated

Minnesota’s budget surplus grows to a projected $2.4 billion, fueling debate over spending

ST. PAUL, Minn. (AP) — Minnesota’s budget surplus has grown to a projected $2.4 billion, and that’s