Both Powerball and Mega Millions are hugely popular lottery games in the United States that offer life-changing jackpot prizes. With jackpots frequently soaring into the hundreds of millions of dollars, it’s no wonder people dream of winning these mammoth prizes. But which game gives you better odds and bigger jackpots – Powerball or Mega Millions?
This comprehensive guide will examine all aspects of both lottery games to help you decide whether Powerball or Mega Millions is the better option for you to play. We’ll look at the history, format, odds, prizes, taxation, frequency of draws, record jackpots, biggest winners, where the games are played, and much more.
While winning either game ultimately comes down to incredible luck, understanding the key differences between Powerball and Mega Millions can help inform your choice of which game to spend your money on. Let’s dive in!
History of Powerball and Mega Millions
To understand how the two games compare today, it helps to first look at their origins and evolution over the years:
Powerball
– Launched in 1992 as Lotto America. The name changed to Powerball in 1997.
– Originally started by 15 states. Now played in 45 states plus Washington D.C., Puerto Rico and the U.S. Virgin Islands.
– Has always had the 5/69 + 1/26 format it has today.
– Previous record jackpot: $1.586 billion in January 2016.
Mega Millions
– Launched in 1996 as The Big Game. Name changed to Mega Millions in 2002.
– Began with 6 states. Now played in 45 states plus Washington D.C. and the U.S. Virgin Islands.
– Used different formats before settling on current 5/70 + 1/25 format in 2017.
– Previous record jackpot: $1.537 billion in October 2018.
Powerball has been around for longer, but both games have evolved over the decades and spread to be nearly nationwide games played across most of the U.S.
How the Games Work
Despite some small differences, Powerball and Mega Millions have similar gameplay formats:
Powerball
– Choose 5 main numbers from 1-69.
– Choose 1 Powerball number from 1-26.
– To win the jackpot, match all 5 main numbers + the Powerball.
– Jackpots start at $40 million and grow until there’s a winner.
Mega Millions
– Choose 5 main numbers from 1-70.
– Choose 1 Mega Ball number from 1-25.
– To win the jackpot, match all 5 main numbers + the Mega Ball.
– Jackpots start at $20 million and grow until there’s a winner.
The basic concept is the same – pick 5 main numbers and 1 separate bonus number. But the pools to choose from differ slightly between the two games.
Odds of Winning Powerball vs Mega Millions
The odds of winning the jackpot are extremely long in both games – but Mega Millions is slightly more difficult, at 1 in 302.6 million. Powerball has better jackpot odds of 1 in 292.2 million.
Here are the full odds comparisons:
| Prize Level | Powerball Odds | Mega Millions Odds |
|---|---|---|
| Jackpot | 1 in 292,201,338 | 1 in 302,575,350 |
| $1 million | 1 in 11,688,053.52 | 1 in 12,607,306 |
| $50,000 | 1 in 913,129.18 | 1 in 931,001 |
| $100 | 1 in 38.32 | 1 in 37 |
As you can see, Powerball has slightly better odds for the jackpot prize and the second tier $1 million prize. The odds even out more for smaller prizes. But in both games, every prize has odds of at least millions-to-1 against.
Prize Payouts
The prize payout structures are quite similar between Powerball and Mega Millions. Both games offer not just massive jackpot prizes, but also second tier prizes of $1 million or more.
Powerball Prizes
– Match 5+PB: Grand prize jackpot, starting at $40 million.
– Match 5: $1 million.
– Match 4+PB: $50,000.
– Match 4: $100.
– Match 3+PB: $100.
– Match 3: $7.
– Match 2+PB: $7.
– Match 1+PB: $4.
– Match 0+PB: $4.
Mega Millions Prizes
– Match 5+MB: Grand prize jackpot, starting at $20 million.
– Match 5: $1 million.
– Match 4+MB: $10,000.
– Match 4: $500.
– Match 3+MB: $200.
– Match 3: $10.
– Match 2+MB: $10.
– Match 1+MB: $4.
– Match 0+MB: $2.
The prize payout structures are broadly similar. Powerball starts with slightly higher minimum jackpots while Mega Millions offers larger prizes for matching 4 main numbers. Both games provide solid secondary prizes beyond just the jackpot.
Jackpot Size Comparison
The current advertised jackpots offer a good comparison point between the two games:
Current Jackpots
– Powerball: $1.5 billion
– Mega Millions: $20 million
As this shows, jackpot sizes can fluctuate dramatically between the games based on winning rolls. Right now Powerball has an edge with a jackpot 75x bigger than Mega Millions. But Mega Millions has held the record for the largest U.S. lottery jackpot in history at $1.537 billion.
Here are some more size comparisons:
Record Jackpots
– Powerball: $1.586 billion (January 2016)
– Mega Millions: $1.537 billion (October 2018)
Average Jackpot
– Powerball: $150 million
– Mega Millions: $112 million
Minimum Jackpot
– Powerball: $40 million
– Mega Millions: $20 million
While Mega Millions has the record for the largest single jackpot, Powerball has produced more giant jackpots historically and has a higher average jackpot size. But both games routinely award massive nine-figure prizes.
Taxes on Winnings
One important factor to consider is the tax withholding on lottery prizes. Both games withhold taxes from jackpot wins:
Powerball Taxes
– Federal tax withholding: 24%
– Most states withhold additional state tax: typically 5-7%
Mega Millions Taxes
– Federal tax withholding: 24%
– Most states withhold additional tax: typically 5-7%
For U.S. citizens, lottery winnings are taxed like ordinary income, with the top federal rate at 37%. Non-resident aliens pay a flat 30% federal tax. State taxes also apply for winners where the ticket was purchased.
The lotteries withhold taxes upfront upon payout, but winners are responsible for any additional taxes owed at filing time. Winners have the choice of taking a lump sum cash payout or an annuity paid out over 30 years.
Frequency of Drawings
Both Powerball and Mega Millions offer two drawings per week:
Powerball Drawings
– Monday and Wednesday nights at 10:59 p.m. ET
Mega Millions Drawings
– Tuesday and Friday nights at 11:00 p.m. ET
Having drawings twice a week, with multi-million dollar jackpots available for each, provides frequent opportunities to play both Powerball and Mega Millions. Players can participate in both games and double their chances of winning massive lottery prizes.
Where Powerball and Mega Millions are Played
Today, Powerball and Mega Millions are both available in 45 U.S. states as well as Washington D.C., Puerto Rico, and the U.S. Virgin Islands. The only states not currently participating are:
Powerball not played in
– Alabama
– Nevada
– Utah
Mega Millions not played in
– Alaska
– Hawaii
– Nevada
– Utah
Five states – Alabama, Alaska, Hawaii, Nevada, and Utah – do not offer either game. But most states offer both Powerball and Mega Millions so players can participate in both games.
Biggest Powerball and Mega Millions Jackpot Winners
Here are the biggest winners ever in both Powerball and Mega Millions history:
Biggest Powerball Jackpot
– $1.586 billion on January 13, 2016
– 3 winners from California, Florida, Tennessee. Each received approximately $328.8 million lump sum.
Biggest Mega Millions Jackpot
– $1.537 billion on October 23, 2018
– 1 winner from South Carolina. Anonymous winner took $877.8 million lump sum.
Second Biggest Powerball Jackpot
– $768.4 million on March 27, 2019.
– 1 winner from Wisconsin. Received $477 million lump sum.
Second Biggest Mega Millions Jackpot
– $656 million on March 30, 2012
– 3 winners from Kansas, Illinois, Maryland. Each received approximately $218 million lump sum.
As you can see, both lottery games have minted billion-dollar winners. While Mega Millions has the record top prize, Powerball has delivered more $500+ million jackpot prizes over the years.
Which Game has Been More Successful Overall?
Based on total sales and prizes awarded, Powerball has historically been more successful than Mega Millions:
| Game | Total Sales | Prizes Awarded |
|---|---|---|
| Powerball | $100 billion | $23 billion |
| Mega Millions | $82 billion | $22 billion |
Powerball has generated higher overall ticket sales – over $100 billion to date compared to $82 billion for Mega Millions. More total prize money has also been awarded by Powerball at $23 billion vs. $22 billion for Mega Millions.
So while Mega Millions holds the record for the single largest jackpot, Powerball has seen higher cumulative success. But both games have produced exceptional jackpot prizes over the years that have enriched players.
Pros and Cons of Powerball vs Mega Millions
Let’s summarize the key pros and cons of both lottery games:
Powerball Pros
– Better jackpot odds at 1 in 292 million
– Higher average jackpot size
– Has awarded more $500M+ jackpots
– Higher total sales and prize payouts
– Produced the second largest jackpot ever
Powerball Cons
– Currently at lower jackpot than Mega Millions
– Does not offer $10K prize for matching 4 numbers
Mega Millions Pros
– Has awarded the largest jackpot in history at $1.537 billion
– Provides $10K prize for matching 4 numbers
– Lower starting jackpot creates more frequent winners
Mega Millions Cons
– Worse jackpot odds at 1 in 302 million
– Lower average jackpot size
– Not played in Alaska, Hawaii, Nevada, Utah
– Lower historical sales and prize payouts
Both Powerball and Mega Millions offer life-changing jackpot prizes, so you really can’t go wrong playing either game. Powerball has several edges in terms of prizes, odds, and popularity. But Mega Millions also frequently produces enormous jackpots in the hundreds of millions.
Recommendation: Play Both Powerball and Mega Millions
Rather than choosing one game, the best strategy is to play both Powerball and Mega Millions. Here’s why:
– Playing both doubles your chances to win as you’re participating in twice as many drawings.
– You could win jackpots in both games separately.
– It diversifies your chances across two similar games.
– You can participate when jackpots are high in either game.
– For just a few extra dollars, you could win hundreds of millions on two tickets.
– Players have won prizes in both games before.
By playing multiple lottery games with huge jackpots, you increase your overall odds of scoring an enormous prize. Both Powerball and Mega Millions frequently have jackpots surpassing $200 million.
For just a couple extra dollars per drawing by playing both, you give yourself two chances to have your lucky numbers drawn for mammoth jackpot prizes. While winning any lottery comes down to beating the odds, participating in two games doubles your opportunities to get lucky.
When jackpots in either game grow exceptionally large, you can focus your spending on that lottery while still playing the other game. This balanced approach to playing Powerball and Mega Millions is your best shot at hitting a jackpot that could make you incredibly wealthy overnight with the luck of the draw.
Conclusion
In comparing Powerball vs. Mega Millions, Powerball has the edge historically in total jackpots awarded, average jackpot size, and overall ticket sales and prizes paid out. But Mega Millions has exceeded Powerball in awarding the largest single jackpot to date at over $1.5 billion.
Both lottery games offer similar gameplay formats, odds, prize structures, frequency of drawings, and nearly nationwide availability. Powerball tends to produce more frequent giant jackpots but Mega Millions also delivers astonishing nine-figure prizes.
Rather than choosing definitively between Powerball vs. Mega Millions, the wisest strategy is to play both games. For just a few extra dollars, you double your odds across twice as many drawings. This maximizes your jackpot chances and allows you to win big prizes from either game.
When multi-hundred million dollar jackpots are on the line, the thrill of playing Powerball and Mega Millions provides excitement and optimism that a single lucky ticket could completely change your life. Match those lucky numbers and become America’s newest billionaire overnight!