The Mega Millions jackpot rises to nearly $1 billion. Here's what you should know

Winning numbers for Nearly $1 billion Mega Millions The lottery jackpot will be drawn on Friday night, providing windfall riches for any lucky player who matches it and certain disappointment for everyone else.

Since going three months without a winner, the Mega Millions jackpot has risen to an estimated $977 million. This jackpot reflects the incredible odds of winning the jackpot, the longer you go without a winner, the bigger the prize.

The jackpot is classified as The tenth largest lottery in US history – About half the size of the record $2.04 billion Powerball jackpot won in November 2022.

how to play?

Players can purchase tickets for $2 and choose six numbers from separate pools. Five of the picks come from one set, with different numbers from 1 to 70, and the other is for the Mega Ball, with numbers from 1 to 25. Some states also give players the option of paying more for different picks that increase payouts or giving people extra sets of numbers.

People can choose their own numbers — some play the same numbers every time — but most players choose the quick pick option, which lets the computer generate random numbers.

Mega Millions holds drawings twice a week, at 11 PM EST on Tuesdays and Fridays, and is broadcast from a television studio in Atlanta. Numbers are also quickly posted on the game's website.

How much will I earn?

A lot, but it's probably a lot less than you might think.

Firstly, this is because the announced jackpot of $977 million is reserved for the sole winner Paid through a pensionWith an initial payment and then annual checks for 29 years. Nearly all of the winners favor a cash payout, which in Friday night's drawing would be valued at about $461 million, less than half the amount spread across billboards and neon ads in convenience stores.

Before distributing the money, lottery officials also deduct 24% federal taxes. the Final tax bill It could ultimately be higher, as some gains could be subject to the highest federal tax bracket of 37%. State taxes may also be assessed, depending on where the player purchased the winning ticket.

There is also the possibility that more than one person will purchase a winning ticket, as happened in 2016, when there was Three winning tickets For a $1.6 billion lottery jackpot. Whatever the grand prize amount is, it can be divided into smaller prizes.

So what are the odds?

Focusing on the jackpot amount misses the most important point – that you definitely won't win.

the Odds of winning The Mega Millions jackpot is 1 in 302.6 million, and it is these low odds that enable the game to go on without a winner for months. If the odds were better, people would win jackpots more frequently, so the jackpots wouldn't grow as much – nor entice as many people to play. In fact, Mega Millions lengthened its odds in 2019 in order to create larger jackpots.

During the current period, there has been no jackpot winner since December 8, 2023. This means 29 consecutive drawings without anyone matching all the numbers.

However, lottery officials noted that there were millions of winning tickets during that period, with prizes ranging from $2 million to $1 million. They say the key is to play for fun and take the opportunity to dream a little, but not with the expectation of getting rich.

Of course, eventually someone will win the jackpot.

Who runs these games?

Mega Millions and Powerball, the other big lottery game, are run separately but each is supervised by the state lottery. Mega Millions is played in 45 states plus Washington, D.C., and the U.S. Virgin Islands. Powerball also operates in 45 states plus Washington, D.C., Puerto Rico, and the U.S. Virgin Islands.

Games do not work in Alabama, Alaska, Hawaii, Nevada, or Utah.

Both games raise money for the areas in which they operate as well as winnings from other lottery games, such as lottery tickets. Some states transfer the money to their general funds while others use it for specific purposes, such as funding college scholarships or state parks.