DES MOINES, Iowa (AP) — There's yet another massive lottery jackpot up for grabs.
Next is an estimated $1.12 billion Mega Millions prize on Tuesday night, tempting players who wish to win the eighth-largest prize in U.S. lottery history even though no one has won the jackpot since Dec. 8, 2023. That means 30 consecutive drawings have gone by with no jackpot winner.
If you missed out on that drawing, don't worry. There will be a drawing on Wednesday night for an estimated $865 million Powerball jackpot. No one has won that prize either since New Year’s Day, making it 36 drawings with no winner.
For both games, the long period without jackpots is intentional. The games have long odds specifically to create large jackpots that will generate lots of interest and sales.
For Mega Millions, the chances of winning are 1 in 302.6 million, and for Powerball they are 1 in 292.2 million.
The $1.12 billion Mega Millions prize is for a single winner who chooses to be paid through an annuity over 30 years. A winner who opts for a cash payout would receive $537.5 million.
Those winnings would be subject to federal taxes, and some states also tax lottery winnings.
Mega Millions is played in 45 states plus Washington, D.C., and the U.S. Virgin Islands. Powerball is also played in those states as well as Washington, D.C., the U.S. Virgin Islands, and Puerto Rico.
