Mega Millions, Powerball Jackpots Total Nearly $1.6 Billion - Insurance News | InsuranceNewsNet

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January 19, 2021 Annuity News
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Mega Millions, Powerball Jackpots Total Nearly $1.6 Billion

Erie Times-News (PA)

The Pennsylvania Lottery's Mega Millions and Powerball jackpots now offer a combined total of nearly $1.6 billion, marking the first time that Mega Millions and Powerball simultaneously have advertised jackpots of more than $700 million

This is the highest the combined jackpots have been since October 2018, when the $1.537 billion Mega Millions jackpot was hit.

Drawn tonight, the Mega Millions jackpot offers an annuity value of $865 million, with an estimated cash value of 638.8 million. If won, it would be the second largest jackpot in Mega Millions history and the third largest in U.S. lottery history.

The last Mega Millions jackpot of $120 million ($95.4 million cash) was won on Sept. 15.

Tuesday night's drawing will the 36th since the last time the Mega Millions jackpot was won. This surpasses the record for the longest roll when a $536 million jackpot was hit on the 35th drawing on July 8, 2016.

If there is no Mega Millions jackpot winner in Tuesday night's drawing, the estimated jackpot for the Friday drawing will be $970 million, with an estimated cash value of $716.3 million.

The Powerball jackpot for Wednesday's drawing is an estimated $730 million, with an estimated cash value of $546 million. If won, this would be the fourth largest jackpot in Powerball game history and the sixth largest jackpot in U.S. lottery history.

This is the highest the Powerball jackpot has been since March 2019.

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