US Powerball Vs Mega Millions – Battle of the Lottery Heavyweights!

US Powerball vs Mega Millions

• POWERBALL VS MEGA MILLIONS – WHAT ARE THE DIFFERENCES?
• HISTORY
• DRAW DATES & FORMAT
• ODDS OF WINNING
• RECORD PAYOUTS
• POWERBALL VS. MEGA MILLIONS – WHAT ARE THE SIMILARITIES?
• MINIMUM TOP PAYOUT
• JACKPOT PAYOUT
• POWERBALL VS MEGA MILLIONS – DECIDE FOR YOURSELF WITH LOTTOLAND!

Comparing the US Powerball and Mega Millions is like comparing the two undisputed heavyweights of the lottery world. These two American lotteries are responsible for 49 of the 50 biggest lottery payouts of all time – and they are showing no signs of slowing down! So, what exactly are the differences between Powerball and Mega Millions? And, perhaps more importantly, which is better?

US POWERBALL VS MEGA MILLIONS
	US Powerball	Mega Millions
First Draw	22 April 1992	17 May 2002
Draw Format	5/69 + 1/26	5/70 + 1/24
Draw Days	Monday, Wednesday and Saturday	Tuesday and Friday
Record Payout	$2.04 Billion (c.€2.02 Billion)	$1.602 Billion (c.€1.35Billion)
Odds of Winning	292,223.510 to 1	290,472,336 to 1
Special Games	PowerPlay (10x Multiplier)	None (Multiplier included in bet cost)
Bet Price	€5	€7.50

US Powerball Vs Mega Millions – What Are The Differences?

Lotteries across the world share many similarities. You choose your numbers, you check the results, and you (hopefully) win a payout. The Powerball and Mega Millions follow this template, but a few key changes have set them apart from the other lotteries of the world – and each other!

The table above highlights how American super-lotteries differ in several key aspects, including their formats, payouts, bet prices, and respective odds of winnings. Let’s take a closer look at the differences between Powerball and Mega Millions.

History

The first US Powerball took place on 22 April 1992, and it was completely different from any lottery that had come before it. Prior to 1992, lotteries used just one drum to hold the balls to be drawn. However, the US Powerball made its debut with two drums, which allowed for much more variety when it came to adding prize tiers and increasing the odds of winning.

The two-drum system was a game-changer in 1992 and has since been adopted by some of the world’s biggest lotteries since then, including EuroMillions, EuroJackpot and, of course, Mega Millions.

Mega Millions debuted on 17 May 2002, having previously been known as The Big Game. The lottery followed the Powerball model by using a two-drum system. In a sign of things to come, Mega Millions produced a big winner on its debut as one participant took home the entire top payout of $28 million.

Draw Dates & Format

US Powerball is drawn more frequently than Mega Millions, with draws occurring every Monday, Wednesday, and Saturday. Mega Millions, meanwhile, is drawn every Tuesday and Thursday.

The biggest difference between the two draws is the actual format. As previously mentioned, both lotteries utilise two drums for their draw. In Powerball, participants need to first choose five numbers from 1 to 69. They then select their Powerball from 1 to 25.

If you choose to bet on Mega Millions, you must first choose five numbers from 1 to 70. You will also choose one additional number, the Megaball, from 1 to 24.

Odds of Winning

The odds of hitting the top payout in Mega Millions are 290,472,336 to 1. Mega Millions has nine prize tiers, so thankfully, there are easier ways to win! The easiest payout to win is for matching just the Megaball, with odds of 37 to 1. The range of prizes available means that your odds of winning any prize are quite respectable, 24 to 1.

The US Powerball is similar to Mega Millions in that it also offers nine tiers of payouts, and the odds of winning any payout are also around 24 to 1. We are more interested in where the lotteries differ, and the most important difference is that the Mega Millions is slightly easier to win.

Of course, “easier” does not equal “easy”, and the Powerball is by no means one of the easiest lotteries to win. The odds of winning the Powerball are 292,201,338 to 1, slightly higher than Mega Millions, and also higher than our own Irish Lotto, EuroMillions and other famous lottos.

Record Payouts

These two lotteries have developed a happy habit of minting billionaires in recent years, with the Powerball leading the way. The two biggest lottery payouts of all time have come from Powerball, with $2.04 billion paid out in 2022 and $602 billion in October 2023 (€2.02bn and €1.35bn, respectively).

That’s not to say that Mega Millions is tiny in comparison! The biggest Mega Millions payout was paid in 2023 when one winner scooped up a $1.602 billion (€1.35 billion) payout. Interestingly, Mega Millions has actually produced more billion-dollar payouts than any other lottery in the world, with five compared to Powerball’s four.

Powerball Vs. Mega Millions – What are the similarities?

Despite their differences, Powerball and Mega Millions share some similarities. As mentioned before, they both use the two-drum system and offer nine different tiers of payouts. The similarities do not end there…

Minimum Top Payout

It is all too easy to focus on the billion-dollar payouts—especially when they seem to be becoming increasingly common! However, it is important to understand that these payouts are the exception and not the norm. To fully understand a lottery's payout structure, you need to know what the guaranteed minimum payout is for matching every number.

Mega Millions and Powerball are the same in this, both offering high minimum top payouts. The US Powerball's top payout begins at $20 million (€16.8 Million), while Mega Millions begins at $50 Million (c.€42.1 million). In both lottos, the payouts roll over indefinitely until someone matches the magical 5 + 1.

Jackpot Payout

Whether you win millions or billions, winning the top payout in these lotteries is going to change the way you think about money. If you are in this position, both Mega Millions and Powerball will present two different ways to receive your payout – and this requires more than a little thought.

Both lotteries offer the payout as either a lump sum or via 30 annuity payments. This is often a difficult choice for winners, as taking the lump sum may mean receiving less money in the long term than the annuity option. 30 years is a long time to wait, though! So, perhaps it isn’t too surprising to learn that most winners choose the cash option, even if it means taking home a little less money.

Powerball Vs Mega Millions – Decide for Yourself with Lottoland!

There is one final thing Powerball and Mega Millions have in common: they are both available to bet on at Lottoland! Why not tplace a bet on these lotteries yourself? Whether you decide to bet on one or both of these lotteries, don't forget that you can check historical and the most recent MegaMillions results and US PowerBall results! Oh, and of course, we offer much more than just lotto betting at Lottoland! Why not check out our Irish casino, online slots library, live casino and the best sports betting in Ireland!