Exciting times are approaching Florida citizens as it looks likely that sports betting will finally become legal across the state at some point this month. However, while this is fantastic news, it is unlikely to affect the popularity of the Florida lottery. No other form of gambling can create payouts worth hundreds of millions, and therefore, the lottery will always pull in the punters.
If you’re new to the state or interested in playing one of the big lotteries, you’re probably wondering which offers the best odds and payouts? Well, you cannot really have a lottery that has both the best payouts and the best odds. Those with the biggest payouts will have longer odds and vice versa.
However, we will take a brief look at some of the biggest draw lotteries you can take part in when in Florida. For even more information, you can find an overview of the FL lottery at lotteryamerica.com.
The Big Two – The Mega Millions & Powerball
If you wanted a chance at winning life-changing money, it is the two main draw lotteries in FL that you will want to check out. The odds of winning the jackpot are tiny, but when you consider the sums of money that some have won, you just have to take that chance. We’re not talking a few million here, we’re talking about the possibility of winning hundreds of millions, and sometimes over a billion!
- Mega Millions
The Mega Millions lottery has been around since 2013 and is a regular weekly activity for many in the state. It costs $2 a ticket and is drawn twice a week, Tuesdays and Fridays. You pick 5 numbers from a possible 70 and also a Megaball number of between 1 and 25. Getting all six numbers correct will win the jackpot, which can sometimes reach over $500 million. Of course, the odds of doing so are small at 1 in 302,575,350.
Getting 5 numbers right picks up a guaranteed $1 million and the prizes get smaller the fewer numbers you guess correctly. The smallest prize is your $2 back if you picked the Megaball.
The Powerball is arguably the better of the two lotteries as it has generated the bigger jackpots and actually has slightly smaller odds of winning. The PowerBall lottery regularly creates huge jackpots of over $600 million, and in extreme cases can even rise to as high as the record $1,586 million that was won back in 2018. This is also drawn twice a week, but this time on Wednesdays and Saturdays. The tickets are the same price at $2 but this time you pick 5 numbers from 69 and a Powerball number between 1 and 26. Winning the jackpot has odds of 1 in 292,201,338, which is slightly better than the Mega Millions.
The fundamental difference between the two is that the Mega Millions offer better payouts for smaller numbers, whereby the Powerball is all about the jackpot.
Though you will not win hundreds of millions, smaller lotteries are also available in Florida. The odds are much lower, which means you stand a greater chance of coming out as a winner.
This lottery works on a different premise. Instead of one colossal sum, the jackpot will pay you $1,000 per day for the rest of your life. The second prize also nets you $1,000 per week for the entirety of your living days. This is drawn daily, is a 5/60 game with the Cashball just requiring you to guess correctly from 1 in 4. The odds of winning are just 1 in 21,846,048!
- Fantasy 5
Another daily lottery is Fantasy 5, which has a top jackpot of around $200,000 (though it could grow bigger). However, rather than rolling over unclaimed jackpots to the next draw, this will filter the jackpot down throughout the remaining prizes each time. Sure, it means you will never see huge jackpots, but it’s great for those that get close but not close enough.
Other Notable Mentions
Between those mentioned above, you should have enough to keep you busy all week long. However, you should also check out the Jackpot Triple Play and the Pick 2 lotteries. Plus, scratchers are hugely popular in Florida too, as they offer much smaller odds at winning decent sums of money. A man down on his luck was a recent winner in May 2021 after he scooped a cool $1 million.