Mega Millions Jackpot Reaches Insane $1.6 Billion Jackpot

OMG October 23, 2018 By Hugo

With the odds of winning the lottery astronomically low, it's little wonder you're more likely to be struck by lightning. But that isn't the only unlikely scenario more likely than a jackpot win.


There are many others, each as mindboggling as the next, such as being in a plane crash or writing a worldwide best-seller.

It's for these reasons that USA Today recently published an article persuading people to invest in stocks instead of lottery tickets.

Yet despite the astronomically low odds of 1-in-303 million in the case of the Mega Millions draw, people still shell out hundreds of dollars- sometimes even thousands- on lottery tickets in the faint hopes they might win that Mega Millions or Powerball jackpot.

However, a game that has long been described by cynics as a tax on the poor might just be attracting even the most prudent of financial wizards after the jackpot for the Mega Millions jackpot rose to an astonishing, world record $1.6 billion.

Yes, you read that correctly, the US Mega Millions jackpot now stands at a ludicrous $1.6 billion following Friday's draw ending with no winner. The next draw takes place today.

Gordon Medenica, a director at Mega Millions Group, said, "Mega Millions has already entered a historic territory, but it's truly astounding to think that now the jackpot has reached an all-time world record."

Powerball is also going through a rollover phase, with its jackpot now worth an estimated $620m.

If a player is lucky enough to match all six numbers in today's Mega Millions draw, they can choose to take a lump sum of $904m or opt for the entire $1.6bn prize to be spread over 29 years.

While being asked to receive the prize 30 years later might sound a tad frustrating, it's worth bearing in mind that doing this would equate to a yearly salary of $55.17m. That's $4.5m per month.

The mouthwatering jackpot breaks the previous record of $1.586bn jackpot seen in a 2016 Powerball drawing.

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