Thursday, 18 January, 2018

Almost $1 billion up for grabs in Mega Millions, Powerball jackpots

$1 million for Powerball 'winner' in Brentwood Almost $1 billion up for grabs in Mega Millions, Powerball jackpots
Lillian Steele | 06 January, 2018, 02:41

Together they constituted the third-largest combined total. Powerball has a $4 prize for picking just the Powerball number correctly, while Mega Millions has a $2 prize for getting its Mega Millions number. Here's how the Powerball jackpot growsPowerball is played in 44 states, as well as Washington, D.C., Puerto Rico and the U.S. Virgin Islands.

The odds of winning the Mega Millions jackpot tonight are 1 in more than 302.5 million. The victor would take home a one-time, cash option of $347.9 million before taxes, should he or she choose a lump sum payment instead of receiving the prize in installments.

The jackpots refer to the annuity options for both games, in which payments are made over 29 years. The Powerball jackpot is estimated at $570 million going into Saturday night's drawing. To win the jackpot, a player has to match all five numbers plus the Mega number.

Under the new rules, tickets are $2 and jackpots reset at $40 million. Now, with the increased amount of numbers to pick from, I feel-and realistically so-that my chances are greatly diminished. More numbers were added to the twice-weekly drawings to make the lottery tougher to win. "Probably not a victor but between now and then I'm spending millions and millions of dollars", said Gino Smith, bought lottery ticket.

The jackpot goes to a victor who matches the five numbers and the Powerball number, but winners also can win smaller prizes by matching some of the numbers.

The Powerball draw, which takes place on Saturday, has its fifth-largest jackpot, standing at $570m (£420m).

"When the jackpots reach these levels, everyone starts to daydream about what they would do if they won", Gordon Medenica, Mega Millions lead director, said in a statement.

Sanders wasn't the only one undeterred by the long odds.

"People don't even realize there are secondary prizes", said Jacobson. We don't always hit the jackpot, but we did once in Arkansas.

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