NEW YORK, NY (FOX NEWS) — Friday night’s Mega Millions Jackpot is now a whopping $1.35 billion, making it the fourth-largest lotto ever in U.S. history.
Jumbo jackpots have become very common over the past couple years, and experts say you can thank the Fed for a small part of that. They point out the Mega Millions estimated prize is figured based on a combination of forecasted ticket sales that determine the estimated cash value, and is an annuity prize based on the 30-yr US Treasuries rate.
After nearly a year of the central bank hiking rates, the 30-yr Treasury bond is up quite a bit from a year ago. But while ticket buyers can credit Jerome Powell for sweetening the pot, officials say interest rates are just a minor factor.
Either way, you’d have to win first before sending any tips, and with the odds of a single winning ticket sitting at 1-in-302.6 million.
