Powerball and Mega Millions combined jackpot hits $2 billion

Ivan Schwartz
October 21, 2018

Two lottery jackpots continue to grow after no winners were selected in this weekend's drawings.

The next Powerball drawing is on Wednesday.

No information about the Knoxville victor is available until the prize is claimed.

On Friday, that would be a total of $565 million before taxes, according to the Mega Millions website.

When lottery officials changed the Mega Millions rules in October 2017 to shrink the odds of winning and increase ticket prices to $2 from $1, then-Mega Millions president Debbie Alford said the innovations would deliver "attention-grabbing jackpots" and generate increased revenues.

This week's billion-dollar haul includes the largest prize in USA lottery history.

"It's hard to overstate how exciting this is - but now it's really getting fun", said Gordon Medenica, lead director of the Mega Millions Group and director of Maryland Lottery and Gaming.

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The Mega Millions jackpot hasn't been hit since July 24th when 11 workers in California split a prize of $543 million.

In that time 26 people have won $1 million for matching every number but the Powerball.

That means that the Mega Millions and Powerball jackpots combined have are roughly $2.22 billion.

Powerball has climbed since there was a victor in NY on August 11.

USA lottery winnings are taxable at the federal level, unlike in many other countries, while some states also impose local taxes.

This content was republished with permission from CNN.

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