$1.6B Mega Millions prize due to simple math, some surprises
$1.6B Mega Millions prize due to simple math, some surprises
Published: 10:58 am Oct 23, 2018
DES MOINES, IOWA: For all the anticipation about whether someone will finally snag the gigantic Mega Millions and Powerball jackpots, the games come down to two things: simple math — and very long odds. But there are some quirks and surprises about the math equations that likely will soon vault someone into stratospheric wealth after the jackpots grew for months without a winner. WHAT ARE THE JACKPOTS? The biggest quirk starts with this fact: The advertised $1.6 billion Mega Millions prize — the world’s largest ever lottery jackpot — and $620 million Powerball prize aren’t quite real. That is, those are the amount you’d be paid if you chose an annuity, doled out over 29 years. Nearly every winner opts for cash, which is the amount of money the lottery folks actually have in the bank ready to pay out to the company that would fund the annuity. The cash option is still massive, at $904 million for Mega Millions and $354.3 million for Powerball. But those numbers aren’t splayed across billboards and shown in countless mini marts across America. POTENTIAL COMBINATIONS The dismal odds of winning the Mega Millions jackpot — 1 in 302.5 million — mean there are 302.5 million potential number combinations, or a little less than one combination for each of the 328 million people living in the US For last Friday’s drawing, about 59 percent of possible combinations were taken. But by Tuesday night’s drawing, officials estimate that 75 percent will be sold. That would mean a 25 percent chance of no winner. If that happens, it’s likely even more combinations would be covered before the next drawing three days later. Officials don’t have an estimate on how many tickets would be sold for that potential drawing, and they haven’t said how large the estimated prize would be. Could it reach $2 billion? The odds of winning Powerball are 1 in 292.2 million. AS THE GRAND PRIZE INCREASES, SO DO WINNER NUMBERS The odds of winning don’t change as jackpots get larger, but the chance that more than one winner will share the prize do. When so many people rush to play as a jackpot soars , the chances increase that two or three tickets — of the millions of tickets sold — will match. Of the five largest jackpots awarded in the US, three went to multiple winners. The largest single prize went to a 2017 player from Massachusetts who celebrated a $758.7 million Powerball payday. TWO JACKPOTS, ONE WINNER? If the odds of winning either Mega Millions or Powerball don’t seem gigantic enough, how about winning them both? Spend $4 on a ticket for each game and it could happen. But the odds aren’t especially favorable, at about 1 in 88 quadrillion (that’s 88,000,000,000,000,000). LUCKY NUMBERS For Mega Millions, players choose six numbers: five from a range of white balls, numbered 1 to 70, and one number for the Mega Ball, with a range of 1 to 25. What numbers have come up most? Since 2010, that honor goes to the number 2, with 92 hits, followed by the numbers 20, 11, 31 and 17. The most hit Mega Ball number is 9.