There may be a lot of excitement over the Mega Millions drawing for Aug. 8, but as far as winning the jackpot is concerned, experts say don't bank on that happening. Here's what you should know about your chances of winning it all.
After no big winner Friday night, the Mega Millions jackpot climbed to an estimated $1.55 billion. If someone wins it all on Tuesday, when the next Mega Millions drawing takes place, the prize would one of the largest in U.S. lottery history.How much do lottery jackpot winners really take home?
There’s a long list of rare events that are more likely than winning the Mega Millions or Powerball jackpot. Such big jackpots comes down to math and more difficult odds. In 2015, the Powerball lottery lengthened the odds of winning from 1 in 175.2 million to 1 in 292.2 million. Mega Millions followed two years later, lengthening the odds of winning the top prize from 1 in 258.9 million to 1 in 302.6 million. The largest lottery jackpots in the U.S. have come since those changes were made.
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Mega Millions jackpot soars to record $1.55 billionThe Mega Millions has now soared to the highest jackpot in the game's history
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The Mega Millions Jackpot Reaches $1.55 BillionThe chances of winning the Mega Millions or Powerball jackpot are extremely slim, with odds comparable to getting struck by lightning once in your lifetime.
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The Mega Millions Jackpot Reaches $1.55 BillionThe chances of winning the lottery are extremely slim, and after no big winner on Friday night, the Mega Millions jackpot has reached an estimated $1.55 billion. Winning the lottery is nearly impossible, and there are many rare events that are more likely to occur than winning the Mega Millions or Powerball jackpot.
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$1.55 billion Mega Millions prize balloons as 31 drawings pass without a winnerWins are so rare because the odds are so miserable, at 1 in 302.6 million. When a drawing fails to produce a big winner, the prizes roll over for weeks. Bigger prizes sell more lottery tickets, which also drives more revenue for the state services lotteries fund. HOW MANY NUMBER COMBINATIONS ARE THERE? There are roughly 302.6 million possible number combinations for the five white balls and separate gold Mega Ball in Mega Millions.
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Mega Millions Jackpot Soars to $1.55 BillionThe Mega Millions jackpot has reached an estimated $1.55 billion after no big winner on Friday night. However, the odds of winning the jackpot, which stands at about 1 in 302.6 million, make it highly unlikely. Experts advise against spending all your money on lottery tickets.
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The best strategies for winning the Mega Millions jackpot, according to a Harvard statisticianChoosing random numbers increases your chances of not having to split the prize money should you win. The odds of winning the Mega Millions jackpot are approximately one in 302.5 million. With odds that slim, it's best to focus on picking numbers that are completely random. This will help ensure you're not making the same picks as someone else and that you won't have to split the prize money with anyone, should you win. According to a Harvard statistician, you should just completely have patternless random numbers.
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