Fort Lauderdale, Florida — For those sensing a bit of St. Patrick’s Day luck in the air, perhaps it’s time to consider purchasing a lottery ticket. Both Mega Millions and Powerball have amassed substantial jackpots following weeks of rollovers.
The Mega Millions jackpot currently stands at an astounding $875 million for Tuesday night’s drawing, following no matching tickets for all six numbers drawn on Friday night. Meanwhile, Saturday night’s Powerball jackpot sits at $600 million.
However, it’s crucial to remember that the odds of winning any lottery jackpot are exceedingly slim. Mega Millions players face a 1 in 302.6 million chance of securing the top prize, while the odds for a Powerball jackpot are roughly 1 in 292.2 million.
Nevertheless, the excitement surrounding these jackpots persists.
This marks only the sixth instance in the nearly 22-year history of the Mega Millions game that the jackpot has reached such staggering heights, with five out of these six jackpots surpassing $1 billion, according to a statement from Mega Millions. Winning tickets were sold in South Carolina, Michigan, Illinois, Maine, and Florida.
Friday night’s Mega Millions drawing did produce one significant winner. A ticket sold in New York matched all five white balls drawn, earning its holder $1 million.
Since December 8, the Mega Millions jackpot has rolled over 28 times, following the drawing of two winning tickets in California, as confirmed by lottery officials. Mega Millions drawings occur every Tuesday and Friday night.
Yet, Mega Millions isn’t the sole multi-million dollar jackpot currently up for grabs. Saturday night’s Powerball jackpot is projected to reach $600 million after no winning tickets were drawn on Wednesday, officials stated.
This marks the 32nd rollover for Powerball since January 1, when a ticket sold in Michigan snagged a prize worth $842.4 million. Powerball drawings take place three times weekly, on Mondays, Wednesdays, and Saturdays.
In the event of winning either of these substantial jackpots, Robert Pagliarini, the president and chief financial adviser for Pacifica Wealth Advisors, Inc. in Irvine, California, offered some guidance.
“Take a deep breath,” Pagliarini advised 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 recommended assembling a team to assist with these decisions, including an attorney, tax expert, and financial adviser experienced in managing 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 concluded.
Mega Millions tickets are priced at $2 and are available for purchase in 45 states, Washington, D.C., and the U.S. Virgin Islands. Similarly, Powerball tickets cost $2 and are sold in 45 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.
