(WWJ) There could be real fireworks if someone wins one of the big lottery jackpots over the next couple of days couple of days.
Monday's Powerball jackpot is a whopping $522 million, while on Tuesday — the Fourth of July, the Mega Millions will be up to more than $400 million.
The Michigan Lottery's Jake Harris said the odds of winning either jackpot are one in 300 million, but the odds of winning any prize are much better, at about one in 24.
So, should you take a lump sum or payments if you win the big prize?
"It all comes down to personal preference on whether a person wants to take the lump sum payout or the annuity that pays out over 30 years when they win a jackpot like a Powerball or Mega Millions," Harris told WWJ Newsradio 950's Beth Fisher. "You know, I've seen it done both ways, and it really, really comes down to personal preference on what that person wants to do."
"You know, I always say that lump sum's nice to have right now, but then again... you gotta think: You could have a big payday for the next 30 years just walking out to your mailbox to pick up a check if you take that annuitized option," Harris said.
Powerball drawings take place at 10:59 p.m. on Monday, Wednesday, and Saturday and may be watched live online at: http://www.powerball.com. A “Power Play” option that multiplies non-jackpot prizes by up to 10 times to a maximum of $2 million may be added to any Powerball play for only $1.
Mega Millions drawings take place each Tuesday and Friday evening. Each Mega Millions play is only $2. For an additional $1 per play, players have the opportunity to add a “Megaplier” that can multiply non-jackpot prizes by up to five times. Mega Millions tickets are sold in 45 states, Washington D.C., and the U.S. Virgin Islands.
The Mega Millions jackpot was last won in Michigan in January 2021 by an Oakland County lottery club. The club won a $1.05 billion Mega Millions jackpot. That jackpot was the largest ever won in Michigan and the sixth largest in U.S. lottery history.
The last Michigan player to win a Powerball jackpot was Cristy Davis, of Waterford. Davis won the game’s $70 million jackpot on Feb. 12, 2020.
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