Results: Mega Millions, Powerball Tickets Selling Quickly

Posted October 25, 2018

"It's a once-in-a-lifetime number now", said a customer at Hugo's Family Marketplace, who did not want to be identified for the story.

For a $2 ticket, people have a chance to win the Mega Millions record-breaking lottery jackpot of $1.6 billion.

Watch the Mega Millions drawing live Tuesday night on NewsCenter 16 at 11.

Lottery players face odds of 1 in 303 million of winning the Mega Millions drawing. That drawing will be on Wednesday night.

The Kentucky Lottery is giving away hundreds of Mega Millions coupons ahead of a world-record jackpot Tuesday.

For Mega Millions, players choose six numbers: five from a range of white balls, numbered 1 to 70, and one number for the Mega Ball, with a range of 1 to 25. "If the promised return is by far illusory-and it is-it would be hard to argue that those purchases do not constitute a tax on those who believe the state's hype", Fiscal Policy Institute research associate Brent Kramer wrote in 2010, according to MarketWatch.

Jean Pierre fills out several Mega Millions lottery tickets for purchase at a convenience store Monday in Orlando, Fla.

Last July, lottery commission officials announced the agency had raised $63.2 million in revenue for schools, a 19 percent increase over an all-time low of $53 million the previous year.

The anonymous Mega Millions jackpot victor took home the ultimate $1.537 billion pot - just short of the country's biggest lottery prize ever. Despite huge interest and a surge of ticket sales, no one has yet won.

Medenica told The Post that about 57 percent of the possible number combinations were purchased in advance of Friday's drawing and that it was an "extremely pleasant surprise" there was no victor.

How much is the winning lottery ticket actually worth?

Those tickets covered 60 percent of all possible number combinations. The $1.58 billion Powerball jackpot in January 2016 remains the largest jackpot ever.

Current odds for winning the Mega Millions jackpot are estimated at about 1 in 302 million. That could also land you a historic tax bill if you win, though don't expect a lot of sympathy.

The odds of winning don't change as jackpots get larger, but the chance that more than one victor will share the prize do. That would leave me with "just" over $570 million, assuming I took the lump sum. That is a 1 in 20 chance.

Expect to pay 24% of your jackpot winnings immediately. The U.S. population is about 326 million.