The Mega Millions jackpot has hit an estimated $1.15 billion after no one won the $1 billion drawing on Christmas Eve, pushing it to the fifth-largest prize in the game’s history.
A winner could take home as little as $392 million if they choose the lump sum option after taxes, or up to $516 million by spreading the winnings over 30 years. The annual installments would pay an average of $24.1 million.
The next drawing is scheduled for this Friday at 11 p.m. EST. In comparison, the Powerball jackpot stands at $117 million with a lump sum option of $53.4 million after taxes.
Mega Millions has seen significant rule changes recently to provide players with “bigger jackpots and better odds.” The lottery has also eliminated break-even prizes, ensuring that winners receive a minimum of $10 if they match the megaball.
Notably, two of the top three largest Mega Millions jackpots were won last year, including a record-breaking $1.6 billion prize.
Source: https://www.forbes.com/sites/tylerroush/2024/12/25/mega-millions-jackpot-tops-1-billion-after-christmas-eve-drawing-yields-no-winners-heres-how-much-eventual-winner-could-take-home-after-taxes