The celebrities have aligned within the lottery universe like by no means earlier than, with two jackpots totaling practically $2 billion.With an estimated $1.1 billion Mega Thousands and thousands prize and an estimated $800 million Powerball jackpot, it’s the primary time the 2 practically nationwide lottery video games have every grown so massive on the identical time.Each huge prizes are the outcomes of months and not using a massive winner, however the bigger jackpots entice extra individuals to play the video games, growing the possibility that somebody, someplace, will lastly hit it wealthy.WHEN ARE THE DRAWINGS?Up first is the Powerball drawing on Monday night time, adopted by Tuesday night time’s Mega Thousands and thousands drawing. If there isn’t a winner, the following probability to win Powerball will likely be Wednesday night time and the following drawing for Mega Thousands and thousands will likely be Friday night time.TWO MASSIVE PRIZESLottery prizes have been bigger than the present jackpots, however it’s the primary time each video games have supplied high prizes of $800 million or extra because the video games have been created many years in the past.
The prizes have grown so massive as a result of it has been months since anybody has received a jackpot.The final Mega Thousands and thousands jackpot winner was on Dec. 8. Since then, there have been 30 consecutive drawings and not using a winner of the grand prize. Nobody has received the Powerball jackpot since Jan. 1, making for 35 consecutive drawings and not using a massive winner of the sport, which holds three weekly drawings.
The Mega Thousands and thousands prize ranks because the eighth largest in U.S. lottery historical past and is about half the scale of the biggest jackpot, a $2.04 billion Powerball prize received in November 2022.
“There’s all the time an air of pleasure across the nation when the Mega Thousands and thousands and Powerball jackpots soar concurrently,” mentioned Gretchen Corbin, president of the Georgia Lottery Company and lead director of the Mega Thousands and thousands Consortium.THE DISMAL ODDSIt’s no thriller why months have handed and not using a jackpot winner — the percentages of snagging the massive prizes are horrible.
For Mega Thousands and thousands, the percentages of matching all six numbers are 1 in 302.6 million. Powerball has barely higher odds of 1 in 292.2 million.To place these odds in perspective, lottery officers word that after a win when jackpots reset at $20 million, whole ticket gross sales sometimes cowl lower than 10% of all of the attainable quantity combos. As jackpots climb to $1 billion or extra, gross sales enhance dramatically however nonetheless often cowl solely about half of the attainable combos.Meaning, there’s nonetheless a very good probability nobody will hit a jackpot.In fact, tens of millions or individuals do win smaller prizes that vary from $2 to $2 million. Gamers of each video games have a couple of 1 in 4 probability of successful some type of prize.And keep in mind, no matter how massive jackpots develop, the percentages of a person ticket successful by no means adjustments.THE WINNINGSAs huge because the jackpots are, winners ought to brace for a lot smaller payoffs than the figures marketed on billboards.That’s as a result of the state lotteries that run the video games promote the full payoff if the prize is paid by an annuity over 30 years. That determine is now roughly double the money prize, which practically all winners select as a result of they need to make investments the cash themselves moderately than go for an outlined payout.
For Mega Thousands and thousands, which means the $1.1 billion jackpot truly would pay out an estimated $525.8 million money prize. For Powerball, the $800 million annuity prize would imply an estimated $384.8 million money prize.These prizes will likely be topic to federal taxes, and plenty of states additionally tax lottery winnings. There is also an opportunity that a number of gamers will hit a jackpot, which might then be break up between the winners.THE GAMESMega Thousands and thousands 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.The Mega Thousands and thousands numbers are drawn at a TV studio in Atlanta and Powerball attracts numbers at a Florida Lottery studio in Tallahassee.Income from the video games fund state applications.___This story has been corrected to incorporate that the Mega Thousands and thousands jackpot is the eighth largest in U.S. historical past, not the tenth largest.