$1.55 billion Mega Millions prize balloons as 31 drawings pass without a winner

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The Mega Millions Prize of $1.55 Billion Continues to Grow as 31 Consecutive Draws Produce No Winner

The escalation of the Mega Millions jackpot to a staggering $1.55 billion, ranking it as the third largest in history before Tuesday’s drawing, is no perplexing phenomenon.

This enormous prize has swelled due to the fact that no one has identified the game’s six winning numbers since April 18, resulting in 31 consecutive drawings without a grand prize winner. The nearly four-month drought might make victory even sweeter for the person who finally takes home the top award, closely approaching the record lottery jackpot of $2.04 billion claimed in 2022 by a Californian player.

Merlin Smith, a retired property valuator who bought five tickets at a Minneapolis gas station on Monday, remarked, “It’s enjoyable, but relying on winning would lead to frequent disappointment.”

WHY DOES IT TAKE SO LONG FOR A WINNER TO EMERGE?

Although the jackpot has gone 32 drawings without a winner as of Tuesday night, it is not unprecedented. The Mega Millions jackpot record is 36 drawings, ending on Jan. 22, 2021, with a $1.05 billion win. The all-time high for lottery drawings was a Powerball jackpot that ended after 41 attempts, with a win of the record $2.04 billion prize.

Victories are scarce due to the dismal odds of 1 in 302.6 million. When a drawing does not yield a top winner, the prizes accumulate for weeks, and the larger prizes boost ticket sales, which also increases state lottery revenues.

HOW MANY NUMBER COMBINATIONS EXIST?

In Mega Millions, there are approximately 302.6 million potential combinations for the five white balls and separate golden Mega Ball. The white balls range from 1 to 70, and the Mega Ball from 1 to 25.

To contextualize this figure, note that only around 35% of possible combinations were represented in last Friday’s drawing. This left almost 200 million options uncovered. Officials predict that as sales grow before Tuesday’s drawing, covered combinations will exceed 41%.

THE $1.55 BILLION WON’T DIRECTLY ENTER YOUR BANK

Winning the Mega Millions jackpot will undoubtedly bring a massive influx of money, but don’t expect a check for $1.55 billion to land in your account immediately.

The aforementioned amount applies to a solo winner opting for a 30-year annuity payment. Most winners, however, select a one-time payment, which would be roughly $757.2 million for this particular drawing.

Taxes will significantly reduce the winnings, with federal taxes claiming 24%, and possibly additional state taxes.

The possibility of multiple winners could also reduce an individual’s share of the jackpot, as occurred with a $1.586 billion Powerball prize in 2016 split among three players.

WHAT IS THE MOST EFFECTIVE WAY TO SELECT NUMBERS?

The majority of players prefer to let the machine generate numbers, a choice made by over 90% of Iowa’s Mega Millions participants, for instance. The chances of winning remain unchanged whether the machine or the player selects the numbers.

WHERE IS THIS LOTTERY GAME HELD?

Mega Millions is available in 45 states, as well as Washington, D.C., and the U.S. Virgin Islands. It’s not offered in Alabama, Alaska, Hawaii, Nevada, or Utah.

Trisha Ahmed, a writer for Big Big News, provided additional information for this report from Minneapolis.

Frequently Asked Questions (FAQs) about lottery jackpot

More about lottery jackpot

• Mega Millions official website
• Mega Millions on Wikipedia
• Record lottery jackpots
• Understanding odds in lottery games
• Tax implications of winning a lottery jackpot
• Lottery ticket sales impact on state revenues