Odds of a big lottery win? In two words, not good
80 views · Published 28 October 2018 · 3:00 · Indexed 22 September 2026
Channel: AP Archive · 2018 · Entertainment
(23 Oct 2018) ODDS OF A BIG LOTTERY WIN? IN TWO WORDS, NOT GOOD 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. 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. The dismal odds of winning the Mega Millions jackpot - 1 in 302.5 million - means there are 302.5 million potential number combinations, or a little less than one combination for all 328 million people living in the U.S. 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. The odds of winning Powerball are 1 in 292.2 million. 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 U.S., three went to multiple winners. The largest single prize went to a 2017 player from Massachusetts who celebrated a $758.7 million Powerball payday. 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). 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. Lottery officials are quick to point out that the number selection is random, so there's no reason that what hit in the past will be selected again. The game also has changed over the years, so some numbers included weren't always in the mix. Find out more about AP Archive: http://www.aparchive.com/HowWeWork Twitter: https://twitter.com/AP_Archive Facebook: https://www.facebook.com/APArchives Instagram: https://www.instagram.com/APNews/ You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/be341fd1c147ccc7b60694f89c787f89
