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Mega Millions Prize Reaches $1.55 Billion as 31 Drawings Pass Without a Winner

The Mega Millions jackpot has reached a staggering $1.55 billion after no winner has emerged from the past 31 drawings, making it the third-largest in history. The lucky streak is headed toward the record lottery jackpot of $2.04 billion, won in California in 2022.

Retired individuals Merlin Smith and Steven Tallant, both lottery enthusiasts, shared their perspectives, highlighting the excitement and the unlikelihood of winning.

Why Is Winning So Difficult?

While the current 32-drawing run without a winner is long, it’s not a record. The Mega Millions had a 36-drawing streak that ended with a $1.05 billion jackpot, and Powerball had a 41-drawing streak for the record $2.04 billion jackpot.

The dismal odds of 1 in 302.6 million make wins rare, and rollover prizes make the jackpot grow. Larger prizes also boost ticket sales, aiding state services funded by lotteries.

How Many Possible Number Combinations Exist?

The Mega Millions has approximately 302.6 million possible number combinations, with white balls ranging from 1 to 70 and the Mega Ball from 1 to 25. For context, only about 35% of combinations were sold for the previous drawing, leaving nearly 200 million options uncovered. Sales are expected to cover just over 41% of combinations before Tuesday’s drawing.

Don’t Expect the Full $1.55 Billion in Your Bank

Winning the jackpot won’t instantly net you $1.55 billion, as that amount is spread over a 30-year annuity. Most winners opt for a lump sum, which for this drawing would be an estimated $757.2 million. Taxes will take a significant chunk, with 24% federal and possibly additional state taxes.

The odds also rise that multiple winners could split the prize, reducing the individual winnings, as happened with a $1.586 billion Powerball prize in 2016.

What’s the Best Way to Select Numbers?

Whether you choose your numbers or let the machine pick for you, the odds remain the same. In Iowa, over 90% of Mega Millions players prefer the machine-generated numbers.

Where Can You Play Mega Millions?

Mega Millions is played across 45 states, Washington, D.C., and the U.S. Virgin Islands, with the exception of Alabama, Alaska, Hawaii, Nevada, and Utah.

The report included contributions from Big Big News writer Trisha Ahmed, reporting from Minneapolis.

Frequently Asked Questions (FAQs) about fokus keyword: Mega Millions

What is the current Mega Millions jackpot?

The current Mega Millions jackpot has reached $1.55 billion, making it the third-largest ever. It’s been growing since there have been 31 straight drawings without a big winner.

Why is it so difficult to win the Mega Millions jackpot?

The difficulty in winning is due to the miserable odds of 1 in 302.6 million. When a drawing fails to produce a big winner, the prizes roll over for weeks, leading to larger jackpots.

How many possible number combinations are there in Mega Millions?

There are roughly 302.6 million possible number combinations in Mega Millions, with white balls numbered from 1 to 70 and the Mega Ball ranging from 1 to 25.

If I win, will I get the full $1.55 billion in my bank?

No, the estimated $1.55 billion prize would be paid over 30 years through an annuity. Most winners choose a lump sum payment, which for this drawing would be around $757.2 million. Taxes will further reduce the amount.

Is there a preferred method for choosing my Mega Millions numbers?

The odds are the same whether you choose the numbers or let the machine generate them. In Iowa, more than 90% of players prefer machine-generated numbers.

Where is Mega Millions played?

Mega Millions is played in 45 states, Washington, D.C., and the U.S. Virgin Islands. It is not played in Alabama, Alaska, Hawaii, Nevada, and Utah.

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5 comments

Timmy-O August 8, 2023 - 7:26 am

I dont know how they can say its 1.55 billion if you cant actually get that amount in your bank. Taxes, annuities, lump sums… its all so confusing

Reply
Jenny T August 8, 2023 - 10:43 am

wow, 1.55 billion that’s insane!! Ive never won anything, maybe its my time to shine, lol. Wish me luck!!

Reply
Karen.M August 8, 2023 - 11:17 am

I always play the lottery at my local gas station. Never won big but a couple bucks here and there. Can’t even imagine what i’d do with 1.55 billion!

Reply
SaraP_Love August 8, 2023 - 5:29 pm

My husband and I always let the machine pick our numbers. didn’t know 90% in Iowa do the same. It’s a cheap fantasy, but it’s ours. 🙂

Reply
Mike42 August 8, 2023 - 5:53 pm

those odds are just miserable. Why do people even try? its like throwing money away. still, someone’s gotta win eventually i guess.

Reply

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