Mega Millions and Powerball jackpots combined near $1B

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SAN DIEGO – Tuesday’s Mega Millions drawing is worth $654 million, and Wednesday’s Powerball jackpot stands at $345 million. Together, that’s $999 million — a mere seven-figure whisper away from a cool billion dollars.

These jackpots have ballooned to such monstrous proportions because no one has won in a while. According to a release from Mega Millions, the last Mega Millions jackpot was won July 24, netting 11 co-workers a combined $543 million. The last Powerball jackpot, which totaled $245.6 million, was won August 11 by a man in Staten Island, New York.

This week’s combined billion-dollar haul is not the biggest prize in the lottery’s history. The 2016 Powerball jackpot clocked in at $1.586 billion (although it was shared by three winners).

The actual winning amount is considerably less than a billion dollars, because of taxes and annuities and fine print things. Although, the odds of winning either jackpot are one in several hundred million.

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