Mega Millions jackpot soars to $875 million. Powerball reaches $645 million
Mega Millions and Powerball have racked up some massive jackpots after weeks of rollovers.
The Mega Millions jackpot is already estimated at a whopping $875 million for Tuesday night's drawing after no tickets matched all six numbers drawn on Friday night. Monday night's Powerball jackpot is $645 million.
Just keep in mind that the odds of winning any lottery jackpot are very slim. Mega Millions players have a 1 in 302.6 million chance of taking home the top prize. And it's not much easier to win a Powerball jackpot with the odds near 1 in 292.2 million.
But the excitement remains.
This is just the sixth time in the nearly 22-year history of the Mega Millions game that the jackpot has been this large, and five of those six jackpots exceeded $1 billion, according to a Mega Millions statement. The winning tickets were sold in South Carolina, Michigan, Illinois, Maine and Florida.
There was one big winner in Friday night's Mega Millions drawing. A ticket in New York matched all five white balls drawn and will win $1 million.
The Mega Millions jackpot has rolled over 28 times since Dec. 8, when two winning tickets were drawn in California, lottery officials said. Mega Millions drawings occur every Tuesday and Friday night.
Mega Millions isn't the only current multi-million dollar jackpot. Monday night's Powerball jackpot is estimated to be $645 million after no one matched all six numbers on Saturday, officials said.
It was the 33rd rollover for Powerball since Jan. 1, when a ticket in Michigan won a prize worth $842.4 million. Powerball is drawn three times weekly, on Monday, Wednesday and Saturday.
If you are lucky enough to win either of the large jackpots, Robert Pagliarini, the president and chief financial adviser for Pacifica Wealth Advisors, Inc. in Irvine, California, offered some advice.
"Take a deep breath," Pagliarini told The Associated Press. "You will be faced with numerous tax, legal, and financial decisions so I want you to stay grounded because when you are calm you can make much better decisions."
Pagliarini suggested building a team to help with decisions, including an attorney, tax expert, and financial adviser experienced in handling windfalls.
"Lastly, even though you have professionals guiding you, do not forget that this is your money and you are in charge — they work for you. Ask questions and make them explain things so you understand them. The goal is to turn your sudden wealth into lasting wealth," he said.
Mega Millions tickets cost $2 and are sold in 45 states, Washington, D.C., and the U.S. Virgin Islands. Powerball tickets are also $2 and are sold in 45 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands.
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