The Mega Million, Powerball Jackpot: Here’s How to Win It
The Powerball and Mega jackpots offer irresistible amounts of money, sometimes totalling as high as $2 billion. With this amount of money up for grabs, it is a no brainer that everyone is looking for tips on how to win the Jackpot.
So the popular question is; how do you win the jackpot? New Jersey On-line has clearly explained the monstrous odds of winning the jackpot, which can be compared to the biblical parable of a horse passing through the eye of the needle. But then again, people have won the jackpot in the past, therefore it might be beneficial to learn a few tips from past winners.
Play the game: First things first, unless you want to live the rest of your life wondering what could have been, you must buy a ticket. You should get in the game to even stand a chance at winning.
Buy as many tickets as possible; A disclaimer by an ABC action News report says:“Your odds of winning the Mega Millions jackpot are 1 in 302,575,350, no matter which numbers you pick or where you buy your tickets”
Mathematicians say the simplest way to increase your odds is to buy more tickets. Think about it: Two tickets give you twice the chance (though your odds are still minimal), and buying a hundred million tickets would give you a hundred million chances (but you could still lose, and lose $200 million in the process). But then, this is a game of chance and the bigger your chances, the more likely the odds will be in your favour.
The website, LottoNumbers.com has analyzed all 2,235 Mega Millions draws since the first draw on September 6, 1996, and determined which Mega Millions numbers have been drawn most frequently. Mega Millions picks numbers from two pools: the first five are drawn from numbers 1 through 70, and the last ball is drawn from 1 through 25. To win the jackpot, you must pick all six winning numbers.
Another question you might have is; how many tickets does one need to stand an actual chance? How about all of them? Okay, this one only applies to billionaires, but what an investment strategy! There are more than 600 million combined Powerball and Mega Millions number combinations, and tickets are two dollars each. That's $1.2 billion in play money. Play all the numbers and you win $2.2 billion. Even after taxes you still swing a profit of several hundred million dollars. Not a bad day.
Join a pool: Forbes explains how pooling works: Players can spend $10 on their own, and play 5 games ($2 per game). But if they spend $10 in a pool where 100 people contribute $10 each, they play 500 games. This means that the chances of winning are 100 times higher.
Still, players shouldn’t lose focus on the plain truth: the odds of winning the Powerball or Mega Millions by joining a pool are higher, but they remain extremely low. Meanwhile, the winnings will be shaved off by federal and state taxes. For this reason, many are discouraged from joining pools.