What would you do with $615 million? Well, Tuesday night’s Mega Millions’ jackpot drawing has reached $615 million, and ahead of Wednesday’s drawing, Powerball’s top prize is $550 million.
These large prizes haven’t been up for grabs in nearly two years, and it’s just the second time both have been more than $500 million.
According to a press release from the lottery organization, the Mega Millions first passed $600 million — at $656 million — in March 2012. The second time the winnings were more than $600 million was in December 2013, when the jackpot was $648 million. The world’s largest jackpot awarded to a single ticket was in October 2018 at $1.537 billion.
The chances of winning the $550 million-Powerball jackpot is 1:292.2 million, whereas the odds are 1:302.5 million for the Mega Millions.
Though it’s reported just about all winners take the cash-out option, jackpots promote an annuity option, which pays out the prize throughout 30 years. It’s estimated the Mega Millions inner would take home about $451.8 million and Powerball winners will see $411.4 million.
Mega Millions’ drawing will be at 10 p.m. on Tuesday and Powerball’s $550 million drawing will be at 10:12 p.m. on Wednesday.