When we talk about chances of winning American lottery we need to distinguish between different types odds of winning, namely:
– Odds of winning the main prize
– Odds of winning particular tier prize, 2nd tier prize, 3rd tier prize, etc…
– Odds of winning any prize
Let’s dive in that topic.
POWERBALL
American lottery
MEGAMILLIONS
American lottery
So, which American lottery offers better chances of winning the main prize? Is it easier to win the main prize in Powerball or MegaMillions?
It is slightly easier to win the main prize in Powerball lottery than in MegaMillions lottery. But still both lotteries offers slim chances to win the main prize, which are in case of both lotteries as follows:
The chances to win Powerball American lottery are 1 in around 292 million.
The chances to win MegaMillions American lottery are 1 in around 302 million.
Which lottery offers better chances to win other significant prizes? Powerball or MegaMillions?
There are other prizes which can be substantial winnings, namely 2nd tier prizes and 3rd tier prizes. In case of other tier prizes the winnings are symbolic therefore we are not going to analyse winning odds differences between Powerball and MegaMillions for those smaller winnings.
In case of Powerball lottery 2nd tier prize can range between 1 million and 10 million, this depends on PowerPlay number.
In case of MegaMillions lottery 2nd tier prize can range similarly between 1 million and 10 million, in case of MegaMillions lottery this depends on Megaplier number.
For both lotteries Powerball and MegaMillions the chances of winning 2nd tier prize are similar, however Powerball lottery gives slightly better chances to win second prize.
In case of Powerball lottery the odds of winning second prize are 1 in around 11 million.
In case of MegaMillions lottery the odds of winning second prize are 1 in around 12 million
Is it easier to win 3rd tier prize in Powerball lottery or MegaMillions lottery?
The odds of winning the third prize in case of Powerball lottery and MegaMillions lottery are almost the same.
1 in 913 thousands in case of Powerball lottery.
1 in 931 thousands in case of MegaMillions lottery.
However Powerball lottery payout for winning 3rd tier prize is much more generous than in case of MegaMillions lottery.
Powerball lottery 3rd prize winner takes home between $50 thousand and $500 thousand, this depends on PowerPlay number.
MegaMillions 3rd prize winner takes home much less, namely: between $10 thousand and $100 thousand.
In case of third tier prizes the differences are quite significant. In case of Powerball lottery the winnings are as much as 5 times larger, when comparing with MegaMillions lottery.
Which lottery offers overall better chances of winning any prize? Is this Powerball lottery or MegaMillions lottery?
Overall odds of winning any prize in Powerball lottery are 1 in 24
Overall odds of winning any prize in MegaMillions lottery are 1 in around 15
Overall it is easier to win any prize in MegaMillions lottery when comparing with American Powerball lottery.
However it is easier to win larger prizes in case of Powerball lottery when comparing with MegaMillions lottery, additionally those larger winnings are significantly larger in case of Powerball lottery, then in case of MegaMillions lottery.
In conclusion we would say that:
Considering the cost of lottery ticket almost the same in case of both lotteries, it is much more advantageous to participate in Powerball lottery than in MegaMillions lottery. This is of course from statistical point of view and risk reward ratio.
Although MegaMillions lottery offers better overall odds of winning any prize, Powerball lottery offers better odds of winning larger prizes and those larger prizes are much bigger than in case of MegaMillions lottery. At the end of the day, the lottery players are after big life changing winnings not some petty small prizes to sweet up the misery.
Therefore Powerball lottery is more suitable for winnig big than MegaMillios. However you can try both lotteries, below are the links: where to buy lottery tickets for both American lotteries.
In order to participate in American Powerball lottery click here or banner below:
In order to participate in American lottery MegaMillions click here or banner below:
Powerball American lottery
MegaMillions American lottery
