Mega Millions vs Powerball: Which Has Better Odds?

The Two Giants of US Lottery

Powerball and Mega Millions are the two largest multi-state lottery games in the United States, collectively generating billions of dollars in annual ticket sales. Both games are available in 45 states plus Washington D.C. and the U.S. Virgin Islands, and both offer life-changing jackpots that regularly climb into the hundreds of millions. But despite their similarities, the two games differ in important ways — especially after Mega Millions underwent a major overhaul in April 2025.

Game Format Comparison

Powerball: Players select 5 white ball numbers from a pool of 1 to 69, plus 1 red Powerball number from a separate pool of 1 to 26. Each ticket costs $2. An optional Power Play add-on costs $1 extra and multiplies non-jackpot prizes by 2x through 10x.

Mega Millions (since April 2025): Players select 5 white ball numbers from a pool of 1 to 70, plus 1 gold Mega Ball from a pool of 1 to 24 (reduced from 1-25). Each ticket costs $5, up from the previous $2 price. Every ticket now automatically includes a multiplier of 2x through 10x for non-jackpot prizes — the old $1 Megaplier add-on was retired.

Odds Comparison

The jackpot odds for both games are remarkably close, but there are meaningful differences across all prize tiers:

Powerball jackpot odds: 1 in 292,201,338

Mega Millions jackpot odds: 1 in 290,472,336 (improved in April 2025 from 1 in 302,575,350)

Since the April 2025 overhaul, Mega Millions now has slightly better jackpot odds than Powerball — a reversal from the previous format. The reduction of the Mega Ball pool from 25 to 24 numbers is what tipped the balance. However, Mega Millions tickets cost $5 compared to $2 for Powerball, which significantly changes the cost-per-chance calculation.

For the second-tier prize (matching all 5 white balls but missing the bonus ball), Powerball offers odds of 1 in 11,688,053 for a $1 million prize, while Mega Millions offers odds of 1 in 12,103,014 for a $1 million prize. Powerball has a slight edge at this level as well.

Drawing Schedule

Powerball: Monday, Wednesday, and Saturday at 10:59 PM ET (3 draws per week)

Mega Millions: Tuesday and Friday at 11:00 PM ET (2 draws per week)

Between the two games, there are 5 drawings every week, meaning players who follow both games have frequent opportunities to check results. The only day without a major multi-state lottery drawing is Thursday.

Jackpot Growth and Starting Amounts

Powerball jackpots start at $20 million and grow based on ticket sales. Mega Millions jackpots now start at $50 million (up from $20 million before April 2025), reflecting the higher ticket price. The larger starting jackpot for Mega Millions means the game tends to advertise bigger numbers from the outset, but Powerball's three weekly drawings allow its jackpots to grow faster through more frequent rollovers.

Historically, both games have produced record-setting jackpots. The largest US lottery jackpot ever was a $2.04 billion Powerball prize in November 2022. Mega Millions holds the record for the largest single-ticket jackpot at $1.602 billion in August 2023.

Cost Per Chance Analysis

When comparing value, the ticket price matters. A single Powerball ticket gives you one chance at the jackpot for $2. A single Mega Millions ticket gives you one chance for $5 — but includes the automatic multiplier that Powerball charges extra for. If you add Power Play to Powerball ($3 total), Mega Millions at $5 is still more expensive per play, but the built-in multiplier that goes up to 10x can significantly boost non-jackpot prizes.

Which Should You Play?

From a cost-per-chance standpoint, Powerball at $2 offers a cheaper path to a jackpot with nearly identical odds. From a convenience standpoint, Mega Millions includes the multiplier automatically, eliminating the need to remember the add-on. In practical terms, the odds difference between the two games (roughly 1.7 million combinations) is negligible. Many players simply play whichever game has the larger current jackpot, or play both for maximum coverage across the week. Either way, both games should be treated as entertainment, and players should only spend what they can comfortably afford.