Mega Millions, Powerball drawings: 2 big jackpots are up for grabs this week

CNN
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Lottery players will have more chances this week to win massive payouts, with Tuesday’s Mega Millions drawing and Wednesday’s Powerball drawing offering jackpots of around $1.1 billion and $865 million, respectively.

If someone wins Tuesday’s drawing for Mega Millions’ estimated $1.13 billion jackpot, it would be the fifth-largest prize in the history of the game, according to Mega Millions. The jackpot rose above $1 billion after no one won the previous drawing, on Friday. Tuesday’s drawing is scheduled for 11 p.m. ET.

A winner of Tuesday’s drawing could opt for an estimated $537.5 million lump-sum payment instead of getting the full jackpot in annual payments. Both estimated figures are before taxes.

The Mega Millions jackpot has grown since it was last won December 8 by two tickets sold in California. The record Mega Millions jackpot was $1.602 billion, won in Florida last August.

The odds of winning any prize in a Mega Millions drawing are 1 in 24, and the odds of winning the jackpot are 1 in 302.5 million, according to the lottery.

Wednesday night’s Powerball drawing, meanwhile, offers an estimated $865 million jackpot, which would be the fifth-largest in the game’s history. A winner could opt for the jackpot in annual payments or a lump-sum payment of an estimated $416.1 million – both before taxes, according to Powerball.

The Powerball jackpot was last won on January 1 by a ticket in Michigan with an estimated $842.4 million prize.

Although no one scored the jackpot in Monday’s Powerball drawing, it still yielded big winners, with tickets sold in Florida and New York each winning $1 million prizes.

Thirty-six consecutive Powerball drawings have passed with no grand prize winner. The odds of winning any prize in a Powerball drawing are 1 in 24.9, and the odds of snagging the jackpot are 1 in 292.2 million, according to the lottery.