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The jackpot grows off of people losing money. Once people have lost enough money ($5M), the chances of winning the money with a single ticket are raised, however you can no longer win the whole $5M with a single ticket - the money is now distributed over a larger pool of tickets.

After that it becomes a good bet, because you can bet smaller amounts, but still win more than you put in initially - you're profiting off of people who lost money before you.

Someone can always win the whole 5M. It is just that if the prize for large enough and no one win, then the amount of the small prizes increased. It was a way to keep the total payout low.

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