Big Bucks Up for Grabs: Mega Millions Jackpot Reaches $1. 15 Billion

Imagine kicking off 2024 with a jaw-dropping $1. 15 billion from the Mega Millions jackpot! This massive prize has been rolling over since Christmas Eve, when no one snagged the estimated $1 billion. If someone wins on Friday, it'll be the fifth biggest jackpot in the game's history. "A lottery ticket could be a fantastic holiday gift this year, " said Joshua Johnston, the lead director of the Mega Millions Consortium. It's been over 100 days since the last winner, and this year has seen one of the lowest numbers of jackpot winners since the game started in 2002. The chances of winning aren't great. While you have a 1 in 24 shot at any prize, the odds of hitting the jackpot are a whopping 1 in 302, 575, 350. Still, people are playing, and the biggest win ever was last year, with a single ticket from Florida bagging $1. 602 billion.

Some researchers are concerned. They say the lottery takes money from poor communities, but the funds often go to colleges and rich school districts instead. A study found that in 2022, lottery ticket sales were higher in poor neighborhoods and generated more revenue than corporate income taxes in some states. Tickets cost $2, with an option to pay an extra dollar for a chance at bigger non-jackpot prizes. The price will double in April 2025, promising even larger prizes. Winning numbers are drawn at 11:00 p. m. ET on Tuesdays and Fridays, with Friday's numbers posted soon after the drawing.

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