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$1.55 billion Mega Millions jackpot is the 3rd largest in US history

by Andrew Wright
3 comments
Mega Millions jackpot

The Mega Millions lottery is offering a substantial jackpot of $1.55 billion, making it the third-largest prize in the history of the United States. This enormous sum has been steadily growing over several months due to 31 consecutive drawings without anyone winning the top prize. The last time someone claimed the jackpot was on April 18th.

With each unsuccessful drawing, the prize amount edges closer to the all-time high of $2.04 billion, which was won in a Powerball jackpot in California last year. The chances of winning the Mega Millions jackpot are extremely slim, with odds of 1 in 302.6 million.

Should a winner decide to receive the prize as an annuity, they would receive the $1.55 billion over a span of 30 years. However, most winners tend to choose the lump sum option. For this upcoming Tuesday’s jackpot, the lump sum would amount to an estimated $757.2 million.

It’s important to note that the prize money would be subject to federal taxes, and many states also impose taxes on lottery winnings. Mega Millions is a game played in 45 states across the U.S., as well as in Washington, D.C., and the U.S. Virgin Islands. Lottery enthusiasts will have another chance to participate and try their luck on Tuesday night.

Frequently Asked Questions (FAQs) about Lottery Jackpot

What is the current prize for Mega Millions?

The current Mega Millions prize is estimated at $1.55 billion, making it the third-largest jackpot in U.S. history.

How has the prize amount grown?

The prize has been increasing over several months due to 31 consecutive drawings without a jackpot winner. The last winner was on April 18th.

What are the odds of winning the Mega Millions jackpot?

The odds of winning the Mega Millions jackpot are 1 in 302.6 million, making it a highly challenging feat.

Can winners choose how to receive their prize?

Yes, winners can opt for an annuity paid out over 30 years or a lump sum. For this jackpot, the lump sum is around $757.2 million.

Are the winnings subject to taxes?

Yes, the prize money would be subject to federal taxes. Additionally, many states also impose taxes on lottery winnings.

Where is Mega Millions played?

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

More about Lottery Jackpot

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3 comments

JackpotDreamer August 8, 2023 - 3:06 pm

wowza, $1.55B? dat’s like, whoa! lemme check ma numbers, mayb dis time…

Reply
GameOn45 August 8, 2023 - 11:50 pm

45 states in, D.C. too? Mega Millions, I’m in it to win it! Good luck err’body!

Reply
TaxTimeBummer August 9, 2023 - 11:50 am

taxes, taxes ev’rywhere! Fed, state, who’s left? Still, nice chunk o’ change, huh?

Reply

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