This Is the Largest Lottery Jackpot of All Time

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By Douglas A. McIntyre Published
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This Is the Largest Lottery Jackpot of All Time

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Lotteries are not new in the United States. One report shows that 392 lotteries were held in America between 1721 and 1783. By the early 19th century, lotteries were used to fund public works, much as they are today.

Today, almost every state runs a lottery. Some lotteries are spread across several states. As of late 2019, lotteries existed in 45 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. Tickets are sold in tens of thousands of places, and people even can play lotteries on their phones.

Two forms of lotteries have driven prize sizes higher. The first is Mega Millions. It is played across 45 states, which means the number of people who can participate can be huge. Winners are drawn each week, although often the number for the highest winnings has not been sold. The entire jackpot is rolled into the next week.
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The second large type of lottery is also played across almost every state. It is run by the Multi-State Lottery Association (MUSL), a nonprofit organization, which says:

…its member lotteries in multi-jurisdictional game development. Each MUSL member offers one or more of the games generally facilitated by MUSL, but retains its independent statutory duties regarding ticket sales, retailer authorization, prize payments, income offsets, and other responsibilities.

The association also holds lottery patents, trademarks and copyrights.

What makes these large lotteries so attractive? According to the Washington Post, “The lottery officials who run Mega Millions tweaked the rules and odds of the game last October (2017) to make jackpots pay out less frequently, spurring their monster growth.”

The plan worked. Of the 10 largest payouts of all time, four of these jackpots came from Mega Million lotteries.

However, the largest payout of all time, according to US News, was the Powerball payout from the January 13, 2016 drawing. Winning tickets were sold in three states: California, Florida and Tennessee. The total value of the jackpot was $1.586 billion. According to CNBC, the winners of this jackpot were John and Lisa Robinson in Tennessee, Maureen Smith and David Kaltschmidt in Florida and Marvin and Mae Acosta in California.

Click here to read about 12 things not to do if you win the lottery.
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Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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