$1.05 billion Mega Millions jackpot drawing offers shot at 7th largest prize ever

2024-12-24 02:10:27 source: category:Markets

A estimated $1.05 billion Mega Millions jackpot will again be up for grabs Tuesday night, giving lottery players a chance to snap an unlucky streak that has stretched on for months.

No one has won the Mega Millions jackpot since April 18, allowing it to roll over again and again until it reached its status as tied for the seventh-largest in U.S. history. Tuesday night’s drawing will be the 30th since someone last won the jackpot.

The drought is due to a combination of poor luck and terrible odds, as the chance of winning the Mega Millions jackpot is 1 in 302.6 million. The odds of winning smaller prizes, ranging from $1 million to $2, are significantly better.

The $1.05 billion jackpot is for a sole winner who chooses to collect through an annuity, with annual payments over 30 years. A sole winner who opts for a lump sum payment would receive an estimated $527.9 million.

Winners also would be subject to federal taxes, and many states also tax lottery winnings.

Mega Millions is played in 45 states, Washington, D.C., and the U.S. Virgin Islands.

More:Markets

Recommend

Multi-State Offshore Wind Pact Weakened After Connecticut Sits Out First Selection

The first and only U.S. multi-state agreement to buy offshore wind power is under strain after one o

Joe Burrow injury updates: Bengals QB active for 'Monday Night Football' vs. Rams

As the Cincinnati Bengals try to avoid an 0-3 start to the season, they look to have quarterback Joe