US multistate lotteries top $200 million

The US’s two multistate lotteries, Powerball and Mega Millions, now have jackpots above $200 million. Stronger-than-expected sales over the past three days increased the Powerball... More Below... Posted by on Aug 20th, 2009 and filed under News.

lotteryThe US’s two multistate lotteries, Powerball and Mega Millions, now have jackpots above $200 million.

Stronger-than-expected sales over the past three days increased the Powerball jackpot for tonight’s drawing by $5 million to $250 million, or $124.8 million in cash. Played in 30 states including Connecticut, Florida and Pennsylvania, it’s the 10th-biggest prize ever for the lottery. The odds of winning are 1 in 195 million.

Meanwhile, since no Mega Millions winning ticket was purchased for last night’s drawing, the jackpot rose from $37 million to $207 million, or $130.1 million in cash, for the Aug. 21 drawing.

If there are no winners in tonight’s drawing, the Powerball prize may climb to $300 million or more because the jackpot increases in value as more tickets are sold. The lottery has had four wins of $300 million or more in its nine-year history, including a December 2002 prize that rose above the mark on the day of the drawing because of last-minute Christmas Day sales.

(via Bloomberg)

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