The new jackpot for the Mega Millions drawing has reached an estimated $720 million, making it the game's fifth highest.
Lottery dreamers are setting their sights on the growing Mega Millions jackpot drawing on Friday after a ticket worth more than $1 billion was sold for the Powerball lottery.
The new jackpot for the Mega Millions drawing has reached an estimated $720 million, making it the game's fifth highest. If someone picks all five numbers, plus the gold Mega Ball, they will have the option of taking the prize in yearly increments paid over 29 years or a $369.6 million lump sum before taxes.Get Tri-state area news and weather forecasts to your inbox.Most of the attention had been on Powerball until a winning ticket was drawn this week. Sold at a tiny neighborhood store in downtown Los Angeles, it is worth an estimated $1.08 billion, the sixth largest in U.S.
Experts have long cautioned the lottery acts as regressive tax on the poor, with those least able to afford to lose money buying the most tickets. Many of the ticket buyers don't even consider the lottery as gambling, said Lia Nower, a professor and the director of the Center for Gambling Studies at Rutgers University.
“People buy them for little kids," she said."So it’s sort of the gateway drug for introduction into gambling. And yet there’s, you know, there’s no responsible gambling program for lottery tickets. There isn’t self-exclusion in states that allow you to purchase them online or limits betting or any of the different strategies that are employed in online casinos or sports wagering.”
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