Here's why there are so many billion-dollar lottery jackpots
CBSN
One lucky person could win a fortune on Friday in the Mega Millions lottery, which has ballooned to a massive $940 million.
Hitting the jackpot would give someone a series of annuity payments for $940 million across 30 years or the winner could opt for a one-time cash option of $483.5 million. The winner will take home the sixth-largest lottery prize in U.S. history.
Friday's drawing is one of a growing number of massive jackpots in recent years. A Powerball player in California won a $2 billion jackpot in November, while two anonymous Mega Millions players in suburban Chicago won a $1.3 billion prize last fall. All told, there have been about six jackpots that have exceeded $1 billion during the past five years, College of the Holy Cross economics professor Victor Matheson told CBS News.
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