Are you the one dreaming of striking it rich with a lottery? Well, hold on to your hat because 2023’s Mega Millions jackpot has soared to an eye-popping $1.25 billion, making it one of the largest in US lottery history!
According to a Wednesday news release, because nobody claimed the big prize in Tuesday’s draw, the next draw on coming Friday would make it the fourth-largest prize in Mega Millions history.
But before the planning for mansions, private jets and whatnot starts, let’s get real about the odds.
Lightning strikes (un)lucky folks more often
- There’s a better chance of getting struck by lightning than winning that Mega Millions jackpot. Seriously, the odds of hitting the jackpot are about 1 in 302.6 million.
- The odds of being zapped by a lightning bolt once in a lifetime stands at a mere one in 15,300.
- Now it’s up against a 1 in 292.2 million chance of scoring the top Powerball prize.
ALSO READ: A $640 million US lottery has no winners. What now?
How’s the game played?
- Mega Millions is a multi-jurisdictional lottery game available in 45 US states, the District of Columbia, and the United States Virgin Islands. It was first started in 2002.
- Players pick six numbers from two separate pools of numbers – five different numbers from 1 to 70 (the white balls) and one number from 1 to 25 (the gold Mega Ball) – or select Easy Pick/Quick Pick.
- One wins the jackpot by matching all six winning numbers in a drawing.
- Drawings for the number take place every Tuesday, Friday and holidays once it starts every year.
ALSO READ: A $725 million US Powerball jackpot has no winners. What happens next?
Mega dreams
Despite the slim odds, people still play the lottery for different reasons.
- Some see it as a thrilling form of entertainment, like a rollercoaster ride, minus the loops.
- Others, well, they’re hoping for a miracle, a chance to turn their financial struggles around.
But let’s face it, lottery tickets are about as good an investment as buying a pet rock.
Mega taxes
- If you do hit the jackpot, there’s more to it!
- The winner gets to choose between an annuity spread over 29 years or a significantly smaller cash payout.
- Then there are a bunch of federal and state taxes too. That’s right; Uncle Sam will get his hands on the winnings!
ALSO READ: Someone in US just won $1.08 billion Powerball lottery. How much money will they take home?
Experts say it’s more like throwing the money into a wishing well and hoping for the best. It’s all a game of chance! A couple of dollars of entry tickets may not be a big deal, but adding and compounding the entry fees up looks to make a deeper dent.
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