Mega Millions Jackpot Hits $800 Million as Lottery Fans Anticipate Big Wins
Mega Millions Jackpot Overview
The Mega Millions jackpot has skyrocketed, reaching an estimated $800 million after a streak of no winners. With a cash option of $401.8 million available for Tuesday's drawing, this is the seventh-highest jackpot recorded in the game's history.
Winning Streak and Recent Drawings
The last winning ticket for the Mega Millions was sold in Illinois on June 4, worth $552 million. Since then, the game has seen 27 consecutive drawings without a jackpot winner. Only two jackpots have been won this year: one in December and another earlier in March 2023, with a ticket still unclaimed.
Game Mechanics and Participation
- Tickets are sold in 45 states, Washington, and the U.S. Virgin Islands.
- Drawings are held at 11 p.m. on Tuesdays and Fridays.
- Each ticket costs $2, with half the proceeds remaining in the selling state.
Odds and Prize History
The odds of winning the jackpot stand at over 302 million to 1, while any Mega Millions prize has odds of 1 in 24. The largest jackpot to date was an astonishing $1.6 billion, sold in Florida.
Why the Jackpot is Growing
According to Victor Matheson, an economics professor, larger prizes are a result of the Multi-State Lottery Association's strategic planning and changes in ticket pricing, leading to more participants and increased jackpots.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.