Sarah Brady
Updated on: October 8, 2024 3:12 am GMT
The excitement surrounding the Mega Millions lottery continues to grow as the jackpot for Friday night’s drawing reaches an impressive $740 million, marking one of the largest jackpots in the game’s history. With no players successfully matching all six numbers during the Tuesday night drawing, the prize has skyrocketed, enticing lottery enthusiasts nationwide. This substantial prize highlights the rare chance to win life-changing amounts of money, attracting attention well beyond regular lottery players.
The Prize Breakdown
If a player wins the Mega Millions jackpot this Friday, they have the option to choose between receiving the full amount spread out over 30 annual payments or a lump sum payment of approximately $366.3 million. However, winnings are subject to federal and state taxation, meaning the actual amount that a winner takes home could be significantly less.
For instance, after a mandatory federal tax withholding of 24% is taken off the lump sum amount, the payout drops to around $278.4 million. Depending on the winner’s taxable income, they could face a higher marginal federal tax rate of up to 37%, ultimately reducing their cash-in-hand prize to about $230.8 million. If one opts for the annual payout, the payments of approximately $24.7 million could diminish to around $15.5 million yearly after accounting for similar tax implications.
Where to Buy Tickets
Those interested in participating in the Mega Millions drawing have until Friday night to purchase tickets. Tickets can be conveniently bought in person at various retailers, including gas stations, convenience stores, and grocery stores. Additionally, select airport terminals may also offer lottery ticket sales. For those preferring to buy tickets online, the Jackpocket app, which serves as the official digital lottery courier of the USA TODAY Network, allows users in several states and territories to easily order tickets from their mobile devices or computers.
- States where online Mega Millions tickets can be purchased via Jackpocket:
- Arizona
- Arkansas
- Colorado
- Idaho
- Maine
- Massachusetts
- Minnesota
- Montana
- Nebraska
- New Hampshire
- New Jersey
- New Mexico
- New York
- Ohio
- Oregon
- Puerto Rico
- Texas
- Washington, D.C.
- West Virginia
Understanding the Game
The Mega Millions game requires players to select six numbers: five white balls from a set ranging from 1 to 70 and one gold Mega Ball, which is a number between 1 and 25. For those who find it difficult to choose numbers, a “Quick Pick” or “Easy Pick” option is available, where a computer randomly generates numbers for the ticket holder.
To enhance their chances of winning non-grand prize amounts, players can add the “Megaplier” feature for an additional $1. The Megaplier can potentially multiply non-jackpot winnings by two, three, four, or five times, but it is selected in a separate drawing before the main numbers are drawn on Tuesday and Friday nights.
Recent Mega Millions Highlights
2013 marked a noteworthy year in Mega Millions history, as it recorded the highest jackpot of $656 million. According to current data, the top 10 largest Mega Millions jackpots have all occurred within the last 12 years. The jackpot for Friday’s drawing is now considered the seventh-largest in the history of the game. This year alone, two significant jackpots have already been claimed: a New Jersey player won an astounding $1.13 billion in March, and an Illinois resident took home $552 million in June.
Winning Odds and Historical Context
While a $740 million jackpot may sound enticing, the odds of winning the Mega Millions jackpot are quite daunting, standing at approximately 1 in 302.6 million. For comparison, the odds of winning the Powerball jackpot are marginally better at 1 in 292.2 million. Despite these low probabilities, the allure of such a monumental prize continues to draw numerous participants to the lottery.
Next Drawing Details
The anticipation for the next Mega Millions drawing is palpable, with the winning numbers set to be drawn at approximately 11 p.m. ET this Friday. As ticket sales ramp up, players are reminded that even matching one of the numbers can yield a small prize, provided that the Mega Ball is included.
In the most recent drawing on Tuesday, the winning numbers were 12, 41, 43, 52, and 55, with a Mega Ball of 9 and a Megaplier of 4x. Although there were no jackpot winners, there were two players who matched five numbers, earning substantial rewards.
A ticket matching just the Mega Ball is worth $2, while tickets that successfully match one of the five white balls along with the Mega Ball will earn players a $4 prize. More information on potential prizes is available at www.megamillions.com.
As the drawing gets closer, people who buy tickets should think about their choices and learn how taxes might affect their winnings. It’s exciting to be part of this lottery! We’ll find out this Friday if someone wins the big jackpot, but one thing is clear: everyone is excited about Mega Millions!
