The Difference between Mega Millions & Powerball
When it comes to massive multi-state American lotteries, there are only 2 main contenders to choose from: Mega Millions and Powerball. If you are new to the world of online lotteries however you probably want to know how Powerball is different from Mega Millions, which one is better and why?
Although Mega Millions lotto and Powerball lotto are very similar in some respects, they differ in some significant ways, even more so since the rule changeswhich took place on October 22, 2013.. Which one is better is a matter of preference so here are the facts so that you can decide which one is right for you..
What are the similarities and differences between Mega Millions and Powerball?
Mega Millions and Powerball have several things in common:
- Mega Millions and Powerball are both huge multi-state lotteries with over 40 participating states.
- Mega Millions Lotto and Powerball are both played following a very similar format, with players trying to predict the 6 winning numbers - 5 normal balls drawn from one drum and 1 special Mega Ball drawn from a second drum.
- Both Mega Millions and Powerball have 9 tiers of prizes including the main jackpot. When there is not a winning ticket the prize money rolls over to the next draw, allowing jackpots to accumulate quickly to enormous sums.
- Both Mega Millions and Powerball lotteries have special features which multiply winnings, called the “Megaplier” and “Power Play” respectively. Tickets cost slightly more money but player’s payouts (other than the jackpot) can be doubled, tripled, quadrupled or quintupled based on a number selected at random.
How are Mega Millions and Powerball different?
There are also a number of key differences between Powerball and Mega Millions:
- Mega Millions draws take place on Tuesdays and Fridays and Powerball takes place on Wednesdays and Saturdays.
- The biggest Mega Millions jackpot was for $656,000,000 on March 30th, 2012 which is still the largest lottery payout in history. The biggest Powerball jackpot ever was $590,500,000, occurred on May 18th, 2013 and is the second largest lotto jackpot of all time. The next two largest jackpots were also both awarded by Powerball for $587.5 million and $448 million.
- Your odds of winning a Mega Millions jackpot are now 1:259,000,000. Under the old rules the chances of winning were 1:175,000,000. The odds of winning the Powerball top tier prize are 1:175,223,509. However this also means that the new Mega Millions jackpots will be almost certainly be record breaking. Mathematically Mega Millions jackpots should be much higher than Powerball's in the future.
- The chance to win any prize with Powerball is 1 in 55. The chances to win the smallest prize with Mega Millions is 1 in 15.
- In the United States Mega Millions winners who elect to take their payments in instalments receive 26 equal annul sums. Powerball winners get 30 graduated payments which increase incrementally over time.
- The chances of having a prize quadrupled or quintupled with the Megaplier is significantly greater (weighted to 30% each) than through Power Play where each ball has a 25% chance of being drawn.
Which is the better lottery - Mega Millions or Powerball?
As you can see, it is a very close call. We lean towards Mega Millions because the lotteries because under the new rules it will almost certainly have record breaking jackpots and chances of winning a mid to mid-level prize are greater with Mega Millions. Finally, the Megaplier is weighted to give you a much better chance of a 4x or 5x multiplier than with Powerball's Power Play. Our verdict is therefore that Mega Millions is the better value lottery over Powerball.