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Analysis Of Large Mega Millions Rollovers, Suk H. Lee, Ki C. Han, David Y. Suk, Hyun Mo Sung
Analysis Of Large Mega Millions Rollovers, Suk H. Lee, Ki C. Han, David Y. Suk, Hyun Mo Sung
School of Business: Faculty Publications and Other Works
From May 17, 2002 to December 30, 2014, there were 1,318 Mega Millions drawings and 153 were winning drawings. In 148 out of 153 winning drawings, there was no winner(s) in the first drawing and the jackpot prize was rolled over and added to the next drawing. Since the Mega Millions does not have a rollover limit, this process continues until there is an eventual winning ticket. As the jackpot prize approaches $100 million, significantly larger additional cash flows into the lottery. Based on the analysis of 29 large Mega Millions winning drawings (jackpot prize ≥ $100 million), we report …