North Texans Have Lottery Jackpot Fever

It's fair to say North Texans have Lottery jackpot fever. With the Mega Millions jackpot at $1.6 billion and Powerball's top prize at $620 million, totaling $2.2 billion, people are buying tickets at a frantic pace. While it's anyone's guess who will end up winning, one thing is for sure, there's at least one guaranteed recipient of a chunk of the loot — the IRS. Also, keep in mind your chance of winning the Mega Millions it is 1 in 302.6 million, and for the Powerball jackpot, meanwhile, your chance of winning is 1 in 292 million. The chance of winning both lotteries is at least 1 in 88 quadrillion (that's 88 followed by 15 zeros).  So does anyone benefit from all this "fever"? Well, 64 cents on the dollar goes to prizes. After that 24% of ticket sales goes to state education. 5% goes to retailer commissions and 4% to administrative costs. The rest goes to other programs, like supporting Texas veterans.  

 

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