The Mega Millions jackpot is now $1.55 billion. Here are your odds of winning it
But don’t plan on entering a new tax bracket anytime soon. The odds of winning a Mega Millions jackpot — Because of the almost impossible chance of winning big, experts stress that you shouldn’t spend all your money on lottery tickets. If you choose to play, it’s important to be mindful of what you can afford — and maybe consider other places to put your money, even if it’s just a few dollars at a time.
A common comparison is the odds of getting struck by lightning once in your lifetime, which stand at about one in 15,300. Even if you bought a lottery ticket for every drawing over 80 years — two times a week for Mega Millions and three times a week for Powerball — you would still be far less likely to win than to be struck by lightning one time in your life, Syracuse University mathematics professor Steven Diaz said.
Of course, both Mega Millions and Powerball offer a handful of tiers below the top jackpots — with the lowest prizes starting at $2 and $4, respectfully. For both games, the odds of winning any prize stand at about 1 in 24.Yes. Winning the lottery has become harder in recent years, causing jackpots to grow bigger and bigger — and that’s by design.. In 2015, the Powerball lottery lengthened the odds of winning from 1 in 175.2 million to 1 in 292.2 million.
Federal and state taxes will also lower the money you take home, with deductions depending on where you live.Because winning is so rare, experts maintain that lottery tickets are horrible investments — but note that every person’s reason for playing the lottery is different.
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