Mega Millions Jackpot Now The Biggest In History

Mega Millions

Mega Millions

Tuesday's MegaMillions Lotto jackpot will be the largest in United States history and someone will become an instant billionaire after no one won hit 6-of-6 Friday night.

The numbers drawn are 65-53-23-15-70 and the Mega Ball was 7.

The huge cash prize continues a trend - the second-largest jackpot was a $1.586 billion Powerball drawing on January 13, 2016. California is one of 10 states to exempt state income tax on lottery winnings. The Powerball drawing on Saturday, Oct. 20, will pay out an estimated $430 million. Surging ticket sales have pushed the jackpot to at least $470 million.

The next Mega Millions drawing is on Tuesday.

The odds of winning the Mega Millions jackpot are one in 302,575,350, but the odds of winning any of the lesser prizes are one in 24.




Though not at a historic amount like Mega Millions, the Powerball jackpot is also huge as well. If there is a victor, they will get the 13th largest payout in history. However, if they choose a longer annuity option, the prize will likely stretch over a billion dollars, and perhaps close to a billion and a half.

Last October, Mega Millions introduced a $3 ticket option, which gives players two chances at the jackpot. The federal government takes 25% before the check is handed to the victor, and collects remaining taxes when due. The probabilities are overwhelmingly not in your favor.

So why do the jackpots keep growing to such astronomical figures? It creates this sense of camaraderie.

The estimated cash option for the new jackpot - should a victor choose to take a one-time lump sum payment instead of annual payouts over 30 years - is about $905 million, according to Mega Millions officials.

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