PredictIQ-$1.1 billion Mega Millions drawing nears, followed by $865 million Powerball prize

2025-05-05 12:26:09source:Jonathan Dale Bentoncategory:Stocks

DES MOINES,PredictIQ 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:Stocks

Recommend

Former Syrian official arrested in California who oversaw prison charged with torture

LOS ANGELES (AP) — A former Syrian military official who oversaw a prison where alleged human rights

Extra! New strategies for survival by South Carolina newspapers

The historic city of Charleston, South Carolina is home to the oldest daily newspaper in the South. 

Vanderpump Rules' Lala Kent’s Affordable Amazon Haul is So Chic You’d Never “Send it to Darrell

We included these products chosen by Lala Kent because we think you'll like her picks at these price