Published: Tue, October 16, 2018
Money | By Ethel Goodwin

Lotteries offer $1B in jackpots as Mega Millions nears record

Lotteries offer $1B in jackpots as Mega Millions nears record

Tuesday night's Mega Millions drawing is the second-largest ever at $654 million.

Unfortunately, even as the big prize for Tuesday night's drawing increases to the fourth-largest in US history, the odds of matching all six numbers and winning the game don't improve. The last Powerball jackpot, which totaled $245.6 million, was won August 11 by a man in Staten Island, New York.

Unfortunately, even as the big prize for Tuesday night's Mega Millions drawing increases to the fourth-largest in USA history, the odds of matching all six numbers and winning the game don't improve.

The estimated prize is just shy of the all-time game record of $656 million set in 2012.

If you don't have luck with the Mega millions, maybe you'll have better luck on Wednesday! Mega Millions drawing days are Tuesdays and Fridays, with the next Mega Millions drawing on Tuesday, October 16.

Although the jackpot is massive, the odds of matching all six numbers and becoming instantly wealthy are remarkably small at one in 302.5 million. But cheer up! There are often secondary prizes to these huge drawings that can be worth millions of dollars, and a shocking amount of them go unclaimed - probably because people get too focused on the biggest possible way to win.

Before claiming the prize, the lucky victor must first sign the back of the ticket to prove ownership.

The cash option on the Mega Millions prize is an estimated $372.6 million, while the cash option on the Powerball prize is an estimated $199 million.

Three other Mega Millions jackpots have been won this year: $451 million on January 5 (Florida), $533 million on March 30 (New Jersey) and $142 million on May 4 (Ohio).

The next Powerball drawing will be held on Wednesday. Winning tickets in that drawing came from Illinois, Kansas and Maryland.

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