Mega Millions Jackpot: Top 10 largest US Jackpots

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This past Wednesday night's Powerball drawing resulted in yet another failure to deem a jackpot victor but you know what that means for the next drawing on Saturday night...

The Powerball jackpot for Saturday was raised to a $570 million annuity value or a $358.5 million cash prize.

The Powerball and Mega Millions jackpots continue to rise, creating millions of dollars for the states they are sold in, including Georgia and Florida.

To woo occasional lottery ticket buyers with the promise of huge jackpots, the consortium that runs the Mega Millions game in October tinkered with the odds to drive sales.

The Powerball jackpot had jumped from $468 million on Wednesday to $550 million on Thursday, after Wednesday night's drawing did not produce a victor.

When the Powerball jackpot hit $1.5 billion on January 16, 2016, New Yorkers were spending $5 million an hour in lottery tickets on the final day.

Michael Clay, of Ashley, fills out two tickets each for the Mega Millions and Powerball drawings at Anthracite Newstand on Public Square in Wilkes-Barre on Friday.

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Powerball drawings are on Wednesday and Saturday nights and tickets must be purchased by 9:45 p.m. EST.

There are literally billions of dollars in unclaimed lottery prizes each year, according to research from lottery expert Brett Jacobson.

The odds of winning both the Mega Millions and Powerball jackpots are 1 in 88 quadrillion. There were five tickets worth $1 million each sold in Florida, California, North Carolina, New York and OR, and another ticket in Florida is worth $2 million. The current jackpot is the 12th largest prize.

The news outlet reports that the longer odds have not refrained people from purchasing tickets - but quite the opposite. That would be one in 88 quadrillion, according to CNN Money.

Neither jackpot has been won since October, which has led to the large jackpots in both games.

Players can multiply their Mega Millions prizes (not the jackpot prize) by 2, 3, 4 or 5 times.

"I wish there were at least ten winners because it is too much money for only one people", said lottery player Jorge Knapp. And so far, it has worked. And Americans do love buying lottery tickets. That's more than they spent on movies, video games, music, sports tickets and books - combined.

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