Mega Millions lottery drawing time and everything to know as jackpot hits $1.58bn – latest
The Mega Millions jackpot has climbed to an estimated $1.58bn after no tickets matched all six winning numbers from Friday’s drawing.
Ahead of the next drawing on Tuesday 8 August, the grand prize is only expected to grow as players purchase tickets in the hopes of winning what is now the third-largest jackpot in US history.
To win the jackpot, a player’s ticket must match all six winning numbers. The chances of this happening are exceptionally rare, however, as the odds of finding oneself with a ticket that matches all six numbers are one in 302.6 million.
As for how much money the winner of Tuesday night’s drawing would actually receive, the $1.58bn payout would go to a winner who opts for an annuity, doled out over 30 years. But winning individuals usually prefer a lump sum option, which for Tuesday’s jackpot would be an estimated $783.3m. The money would then be subject to federal taxes, while many states also tax lottery winnings.
The next Mega Millions drawing will take place on Tuesday 8 August at 11pm ET.
For everything to know about tonight’s Mega Millions drawing, follow along with all the latest updates below.
18:50 , Chelsea Ritschel
Whether it’s $1bn or $1.58bn, winning a lottery jackpot typically means a life-changing amount of money. However, a previous lottery winner has revealed that there are some things that do not change when you win millions of dollars.
Former lottery winner reveals what doesn’t change after you win millions
What to do if you win the lottery, according to experts
18:29 , Chelsea Ritschel
Although the chances of winning the grand prize are slim, there are a few things that lottery players need to know if they do find themselves with a winning ticket.
From keeping the win a secret to whether you should sign a winning ticket, this is what lottery players should consider before making any decisions at all.
What to do if you win the lottery, according to experts
18:26 , Chelsea Ritschel
Ahead of Tuesday night’s drawing, hopeful players have started fantasising about the purchases they would make if they were to win the grand prize.
“Alright y’all I bought my Mega Millions tickets so now I get to live in a delusional fantasy of what I’d do with the money until they draw the numbers,” one person tweeted.
18:19 , Chelsea Ritschel
On Tuesday, the Mega Millions lottery revealed on its website that the estimated grand prize of $1.55bn had jumped to $1.58bn ahead of Tuesday night’s drawing.
If a winner were to choose the lump-sum cash payment, they would walk away with $783.3m before taxes.
18:15 , Chelsea Ritschel
The current grand prize is the result of 31 straight drawings without a jackpot winner.
The last time someone won the game’s top prize was 18 April.
Mega Millions jackpot grows to third largest in US with $1.55bn grand prize
18:12 , Chelsea Ritschel
The player who eventually wins the Mega Millions jackpot will be the recipient of the largest grand prize the lottery has ever awarded.
A lucky ticket holder in South Carolina won the previous largest Mega Millions jackpot of $1.537bn in 2018, when they found themselves with a ticket that matched all six numbers drawn.
Earlier this year, an individual in Maine won a Mega Millions jackpot worth $1.348bn.
18:02 , Chelsea Ritschel
The next drawing for the Mega Millions lottery will take place on Tuesday 8 August at 11pm ET.
