How big is the Mega Millions lottery jackpot?

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One day, Another big lottery jackpot.

Next up is the $1.12 billion Mega Millions prize on Tuesday night, attracting players hoping to win. the eighth grand prize in the history of the US lottery although no one has won the jackpot since Dec. 8, 2023. This is 30 consecutive drawings without a jackpot winner.

Missing this painting? No problem. There will be a drawing on Wednesday night to compare $865 million Powerball Jackpot. No one has won that award since New Year’s Day, making 36 draws without a winner.

For both games, the massive jackpot drought is no coincidence. The game has a lot of difficulty to create big jackpots that will attract more attention and sales.

For Mega Millions, the odds are 1 in 302.6 million, and for Powerball it’s 1 in 292.2 million.

The $1.12 billion Mega Millions prize is for the only winner who chooses to be paid out through an annuity over 30 years. The winner who chooses to pay cash will receive $537.5 million.

These winnings will be subject to federal taxes, and some states also receive lottery taxes.

Mega Millions is played in 45 states including Washington, DC, and the US Virgin Islands. Powerball is also played in those states as well as Washington, DC, the US Virgin Islands and Puerto Rico.

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