Mega Millions® Jackpot Fast Facts
JPEG and EPS images of Iowa Mega Millions tickets, playslips and the game's logo are available here and here.
Strong sales in Iowa and across the country have pushed the giant Mega Millions® jackpot to an estimated $1 billion annuity, $448.8 million lump-sum amount, for the game's drawing on Christmas Eve.
The $1 billion jackpot is the seventh-largest in Mega Millions history and hovers just under the Top 10 list of the biggest jackpots in all U.S. lotto games.
The Mega Millions jackpot was won 10 times in calendar year 2023 but only three times so far in 2024. That demonstrates the random nature of a game like Mega Millions, where no one knows when the next big winner will hit.
Will The Holiday Season Change Ticket-Buying Patterns?
The added attention on the drawing at 10 p.m. Tuesday emphasizes the point that lottery drawings occur every day of the year, even at the times when the drawing date falls on a holiday.
In the usual ticket-purchasing pattern for Mega Millions, the day of the drawing always has the highest sales. Sales generally peak that day during the time period of 4-7 p.m. as a lot of people head home from work.
But with the holidays this week, players' purchasing patterns may be different, with many people on vacation and out of their normal routines. The "normal" patterns may fall by the wayside for this drawing.
How Has The Jackpot Grown So Large?
Time and sales are the reasons the jackpot has grown so large.
The Mega Millions jackpot now has been growing for nearly four months, last won in the drawing on Sept. 10.
The jackpot increases from drawing to drawing when there is no grand-prize winner, and sales generally increase as the jackpot climbs higher. And higher sales, in turn, push the jackpot even higher.
What's That About 'Coverage'?
The coverage estimate is a detail that gets a lot of attention in Mega Millions drawings.
By tracking sales, lottery officials can estimate how many of all the possible combinations in the game have been purchased for a particular drawing. It's called coverage – how many of the combinations have been purchased, or "covered."
The coverage estimate for Tuesday's Mega Millions drawing is about 25 percent.
A higher coverage percentage can mean it's more likely there will be a jackpot winner, but it is not a definite. There have been jackpot winners when the coverage estimate was in the single digits, and winners when the estimate was much higher.
Recap On How To Play
When the jackpot really gets up there like it is now, a lot of first-time and occasional players jump in to buy tickets. Office pools and people buying tickets with friends and family also see a spike.
Here is brush-up for those folks who want to play but aren't sure how: The simplest way to buy a ticket is to ask a clerk at a store for an easy-pick play in Mega Millions. The lottery terminal will select the numbers for that play and print out the ticket.
Generally, at least 90 percent of the tickets purchased today in the big-jackpot games are easy-pick plays.
For more details, the Iowa Lottery keeps how-to-play videos available on its website here.
The lottery also has reminders to help keep lottery group play fun and hassle free available here.
The Deadline To Buy
Remember that the deadline in Iowa to buy tickets for the Mega Millions drawing is 8:59 p.m. on the night of the drawing. If you buy a ticket after that, it will be for an upcoming drawing and you won't be in the running for that night's giant prize.
Play Healthy
The Iowa Lottery reminds players to enjoy the moment, but remember that you are gambling when you buy tickets. There is no guarantee that you'll win. Playing the lottery is something that should be done just for fun.
The Iowa Lottery keeps these and other "Play Smart, Be Informed" details on its website to help everyone have an accurate understanding of how the lottery works here.
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