Powerball and Mega Millions jackpots aren’t reaching giant amounts anymore

(CNBC) -- If you’re one of those people who only buys a lottery ticket when the jackpot climbs into the stratosphere, you could be waiting a while.

The Mega Millions jackpot for Tuesday’s drawing is $86 million, and Powerball’s top prize is $91 million for its drawing on Wednesday. While those would be life-changing windfalls for most winners, the amounts pale in comparison to some claimed in the past — including two worth more than $1.5 billion, one each in 2016 and 2018.

On the heels of pandemic-related stay-at-home orders and shutdowns earlier this year, officials for both games announced in early April that starting jackpots would no longer be $40 million, nor would there be a minimum increase between drawings ($5 million for Mega Millions and $10 million for Powerball) if there was no top winner.

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