July 28, 2022 – After no lucky winner took home the previous prize of $830 million, the Mega Millions lottery jackpot has been increased to $1.025 billion, the third highest prize in the history of the Game.
While monumental, the current jackpot is a far cry from the groundbreaking $1.537 billion won in South Carolina on October 23, 2018, the world’s largest lottery prize ever won on a single ticket, according to Mega Millions.
While it’s sometimes fun to fantasize about what you’d do with all that money, keep this in mind:
The odds of winning this life-changing prize are approximately 1 in 302.5 million, Mega Millions reports. Given these odds, you are more likely to be hit by a meteorite or be hit by flash, according to National Geographic. That said, the winning numbers will be drawn Friday at 11 p.m.
There is also science involved when depositing your money for a ticket.
When you play, your brain releases a “feel good” hormone called dopamine which contributes to the pleasure that many feel when playing. As you bet, your body will develop a tolerance for dopamineskewing your brain’s reward system and tricking you into taking bigger risks, according to the gateway foundation.
This chemistry is at the root of addiction and gambling problems, for which more than 2 million American adults meet the criteria, according to the National Problem Gambling Council.
The hidden costs
Although approximately 85% of Americans have gambled at least once in their lifetime and the global gambling market is should growthere has been a debate about whether winning the lottery will totally improve one’s life.
It’s all can-money-buy-Happiness thing. A Journal of Personality and Social Psychology A study found that “lottery winners were no happier” than others and “took much less pleasure in a series of mundane events”. However, others studies argued that increasing one’s income makes happiness more frequent, but not as intense.