Want to be a billionaire? This lottery jackpot is a good start

Commons

Players have been busy flocking to stores in recent days to purchase tickets as the new jackpot of $970 million is the second-largest prize in USA history.

"The odds are just about one in 302 million of winning the jackpot", said Odlyzko.

The largest United States lottery prize was a $1.586 billion Powerball jackpot paid out in 2016.

It will be the largest jackpot in the game's history and the second largest in the US lottery jackpot history.

You can buy tickets for the Mega Millions and Powerball draws in New York State.

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Information from the Associated Press was used in this report. An office pool of 11 co-workers in California shared $543 million, the largest prize ever won on a single ticket in the game. Make copies of all the tickets and pass them out.

Reducing the number of balls for the first five numbers increases the chances of winning a smaller prize. "Instead of spending $200 a year on lottery tickets, maybe we could encourage people to say, 'OK, why not spend 10 or 20 bucks a year?'" she said.

Melissa Labant, a tax policy expert at the American Institute of Certified Public Accountants, said winners should realize that while taxes are initially withheld when prizes are awarded, more money will likely be due at tax time as people suddenly are in up to a 37 percent tax bracket. The odds of winning the top prize were 1 in 258,890,850.

There are still taxes to be paid on top of the winning amount but if there is a single victor, they would become richer than Taylor Swift or Elton John.

"More people coming in to play, plus more promotion to come through", said Malik. You can pick your own numbers or the computer will do it for you. Check your state lottery's cutoff time for Mega Millions ticket sales if you want a chance at the jackpot. "Problem is someone else may be a victor of the jackpot", Odlyzko said.

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