The Mega Millions lottery jackpot is projected to reach $1.15 billion, prompting discussions about public perception of such massive winnings. Experts wonder if the allure of billion-dollar jackpots will diminish as they become more common.
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.
“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.” In Rome, emperors and nobles held drawings at dinner parties and awarded prizes that ranged from terracotta vases to people who were enslaved. As early as the 1400s, lotteries were used in Europe to fund city defenses and other public works.
“Lotteries were seen as budgetary miracles, the chance for states to make revenue appear seemingly out of thin air,” Cohen wrote. In 2024 dollars, the before-taxes prize could buy a rare copy of the U.S. Constitution or cover Michael Soroka’s $9-million contract to pitch next season for the Washington Nationals By contrast, the pre-tax winnings from Friday’s Mega Millions prize could theoretically buy a Major League Baseball team. The Nationals would be too expensive. But Forbes recently valued the Miami Marlins at $1-billion.
Why jackpots are getting bigger These days, Mega Millions and its lottery compatriot Powerball are sold in 45 states, as well as Washington, D.C., and the U.S. Virgin Islands. Powerball also is sold in Puerto Rico.
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