Lottery Mania Hits All Time High
With the Mega Millions Jackpot sitting at 1.6 billion dollars and the Powerball Lotto at 620 million dollars, people are snatching up more lottery tickets than ever! How do you win the advertised jackpots? Take the annual option and spread it over the next 29 years. Most people opt for the cash option, which is the amount of money that the lottery actually has in the bank to fund the annuity to makes the pay out. The cash payouts for Mega Millions is 904 million and 354.3 million for Powerball.
The odds a pretty much stacked against you at 1 in 3.02 million. Which means, there are 302.5 million potential winning number combinations. The odds don't increase as the jackpot gets bigger, but the chance of there being more than one winner does. Plan on winning both Mega Millions and Powerball? Your odds are a mere 1 in 88 quadrillion, that's 88 followed by 15 zeros.
Good Luck my friends!