Another U.S. jackpot surpasses $1 billion. Is this the new normal?
CTV
Remember this moment because it probably won't last: A U.S. lottery jackpot is projected to soar above $1 billion, and that's still a big deal.
Remember this moment because it probably won't last: A U.S. lottery jackpot is projected to soar above $1 billion, and that's still a big deal.
Friday's Mega Millions drawing is worth an estimated US$1.15 billion, evoking headlines and likely luring more people to convenience stores with dreams of private spacewalks above the earth.
It doesn't seem to matter that the nation's top 10 jackpots -- not including this one -- already have boasted 10-figure payouts. For many of us, something stirs inside when a number ticks one dollar above $999,999,999.
"The question lurking is, what happens when $1 billion becomes routine and people don't care about it anymore?" said Jonathan D. Cohen, author of the 2022 book "For a Dollar and a Dream: State Lotteries in Modern America."
"There's no easy round number after a billion," Cohen said. "But also, how much money can one person possibly, possibly, possibly need?"
Meanwhile, Mega Millions' ticket prices will rise from $2 to $5 in April. The increase will be one of many changes that officials say will result in improved jackpot odds, more frequent giant prizes and even larger payouts.
Here's brief history of lotteries and why jackpots are growing:
