Are $1 billion lottery jackpots the new norm? Mega Millions ...

26 Mar 2024

The Tennessean

Are 1 billion lottery jackpots the new norm Mega Millions

No winner for the Powerball drawing on March 25 means the jackpot inches closer to the $1 billion mark, while Mega Millions has breached it.

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Mega Millions Jackpot soars to $1.1 billion

The Mega Millions Jackpot has surpassed $1 billion. Mega Millions hasn't had a billion-dollar jackpot in seven months.

Fox - 32 Chicago

Mega Millions breached the $1 billion mark and it looks like the Powerball jackpot isn't too far behind. Is this the new normal for lottery jackpots?

It hasn't been until the last couple of years that lottery jackpots have hit the $1 billion mark, but now it seems like it is a regular occurrence and the top 10 wins for both games are littered with these astronomical prizes. Between the two lotteries, 10 jackpots in the United States have surpassed $1 billion since 2016.

And four of those were just last year.

Here's a look at the top prizes over the last couple of years and when you can try your luck at this Powerball and Mega Millions jackpot.

How do you play Powerball? A beginner's guide to Powerball rules and potential prizes.

Powerball numbers Monday, March 25, 2024

The winning numbers for Monday night's drawing were 7, 11, 19, 53, 68, and the Powerball is 23. The Power Play was 2X.

Did anyone win the Powerball 3/25/24?

No one matched all six numbers to win the Powerball jackpot.

Two tickets purchased in Florida and New York matched all five numbers except for the Powerball, those winners walked away with a $1 million prize.

The Powerball jackpot now sits at an estimate $865 million with a $416.1 million cash value.

Winning the Powerball jackpot is less than you think

A choice is given to the winner, they can either receive the jackpot spread across 30 annual payments, or opt for the more popular lump sum cash prize of $273.3 million.

How often does the lottery jackpot hit $1 billion or more?

Having Powerball or Mega Millions hit the $1 billion mark isn't as uncommon as it used to be.

The highest lottery jackpot came in November 2022 when Powerball hit $2.04 billion. It was the second jackpot over $1 billion that year. Before that the only other times a jackpot hit over a billion was in 2021, 2018 and 2016. There were four in 2023 alone.

On Friday, March 22, the Mega Millions jackpot hit $1.1 billion.

When was the last Mega Millions, Powerball $1 billion jackpot?

It has been seven months since the Mega Millions jackpot hit $1 billion and six months for the Powerball jackpot.

The last Powerball jackpot over $1 billion was won on Oct. 11, 2023. The winning ticket was sold in California and the prize was $1.765 billion. For Mega Millions, it was a $1.58 billion ticket sold in Florida on Aug. 8, 2023.

When is the next Powerball drawing?

The Powerball jackpot drawings are held three times per week at approximately 10:59 p.m. ET every Monday, Wednesday, and Saturday.

When is the next Mega Millions drawing?

It is tonight.

You still have time to buy a ticket for the Tuesday, March 26 drawing at 11p.m. ET.

How likely are you to win the Powerball or Mega Millions jackpot?

The lotto numbers start to rise and you dream of what you could do with all the winnings, but the chances of winning big are pretty slim.

Lottery games are mostly only lucrative for the private companies that states hire to run them, said Lew Lefton, a faculty member with the Georgia Tech School of Mathematics, in a USA Today article. In fact, winning big in Mega Millions and Powerball is even harder now because recent rules make the odds even longer so lottery games can sell more tickets, he added.