Why lottery jackpots keep getting bigger

The Mega Millions jackpot will likely set a new record, and the Powerball jackpot will be the third largest ever for that game on Wednesday.

The $1 million ticket was among several high-value lottery tickets - which equated to more than $1.3 million in the lottery jackpots - that were sold in Arizona since October 12.

Here are some answers for someone holding that prized lottery ticket for what would be the largest lottery jackpot in USA history.

Tickets sold for today's drawing are expected to cover 75 per cent of all possible number combinations, he said.

The Mega Millions jackpot is the largest in history and it has brought out some real characters hoping to get some of the winnings.

Though no one won the grand prize outright on Friday, Mega Millions officials said there were 15 tickets sold with numbers that matched all five white balls but not the Mega Ball. "I'm going against the grain".

Both lottery jackpots have been increased recently by rule changes that have reduced the odds of winning.

The lottery fever sweeping the United States has some billionaire hopefuls feeling anxious: Can a record jackpot in your pocket be too much of a good thing?

The nation's largest lottery jackpots have rolled for a few months.

And if you do win you won't get your money right away, lottery officials say payment usually varies by state, but a week or two is pretty common. One $ 31 million lottery victor ending up broke and living in a trailer. He said he doesn't really understand all the excitement and thought it a little odd that more people come in when the jackpot reaches these record high numbers.

Powerball and Mega Millions have a lot of people dreaming about joining the ranks of wealthiest people on the planet.

That would leave most of us disappointed but some lucky victor beset by a host of questions.

If you do win the jackpot in Iowa and you want to keep it a secret, think again. That prize was up to $620 million as of Tuesday morning, with an estimated cash value of $354.3 million, according to the game's website.

The last time someone hit the jackpot was July 24, when a group in California won $543 million. New York has the highest tax at 8.8 percent and residents of New York City face another 3.8 percent extra in taxes.

Each Powerball or Mega Millions ticket is $2.


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