Powerball Jackpot Rolls Over To $222m, Mega Millions At $139m

The Powerball jackpot in Wednesday’s lottery drawing has rolled over to a mighty $222m, sparking a ticket-buying frenzy. Almost as impressively, the Mega Millions jackpot has hit $139 million.

When the Wednesday, May 8 drawing is done, the winner of the Powerball jackpot will be permitted to take a $144.5 million cash prize.

The Mega Millions jackpot will be decided on Tuesday, May 7 with an instant $104.8 million cash prize up for grabs. The top prize has grown since March 15 and has now rolled 15 times.

Should the winners take the annuity option, the Powerball jackpot can be paid over 29 years in 30 graduated payments, while the Mega Millions jackpot can be paid out at a rate of $5.3 million a year for 26 years.

Both hauls are amongst the largest jackpots in 2013, though are dwarfed by the $640m bonanza that appeared in March 2012.

The Powerball has seen its share of huge jackpots recently, many aided by last year’s decision to raise ticket prices to $2. Jackpots are growing bigger faster.

As Andi Brancato of the Michigan State Lottery told MLive at the time of the rise: “Before everyone thinks we’re ripping them off, (players) are getting a huge exchange for this.”

Powerball tickets are sold in 43 states, as well as Washington, D.C. and the U.S. Virgin Islands. Drawings are held on Wednesdays and Saturdays.

Mega Millions tickets are sold in 42 states, Washington, D.C., and the U.S. Virgin Islands, with drawings held on Tuesdays and Fridays.

Do you usually play the lottery? If not, will Wednesday night’s colossal Powerball jackpot lure you in? Sound off in the comments!

[Image via Shutterstock.com]