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Fortune
Fortune
Alicia Adamczyk

Why there have been so many $1 billion lottery jackpots since 2016

Powerball, Mega Millions jackpots grow more than $1B combined (Credit: Anadolu Agency / Getty)

Just a week after one person won the $1.08 billion Powerball jackpot, Mega Millions is also approaching the seven-figure mark, making it possibly the eighth time since 2016 that one of the two lottos has offered prizes of at least $1 billion (there were none of this size before then).

As of now, the jackpot sits at an estimated $910 million, but could rise further before Friday's drawing. It could be the fourth Mega Millions to surpass $1 billion, including the second this year alone.

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