On Tuesday, millions of hopefuls across the United States are eagerly awaiting the drawing of the U.S. multistate Mega Millions lottery, which promises to award the fifth largest jackpot in its illustrious history—a staggering $1.1 billion. This eye-popping sum has been accumulating over the course of an astonishing 30 consecutive drawings without a single jackpot winner, fueling excitement and anticipation to unprecedented levels.
The much-anticipated drawing, scheduled for 11 pm ET (0300 GMT on Wednesday), will be broadcasted live, capturing the attention of viewers nationwide. To claim this monumental jackpot, a fortunate player must successfully match five white balls selected from a pool numbered 1 through 70, in addition to a gold ball chosen from a set numbered 1 through 25.
While $1.1 billion represents an astronomical windfall, it falls slightly short of the largest Mega Millions jackpot ever recorded. In a historic moment last year in Florida, the Mega Millions jackpot soared to an astonishing $1.6 billion, defying astronomical odds of 1 in 302.6 million. The fortunate winner, who opted to remain anonymous, instantly became the talk of the town, captivating imaginations across the nation.
However, amidst the jubilation of winning such a staggering sum, it’s important to consider the financial implications. Tax authorities are poised to take a keen interest in the proceedings. The lucky jackpot winner faces the decision of either accepting a lump sum payment of $525.8 million or opting for a 30-year installment plan, with income tax obligations attached to each annual payment.
Tickets for the Mega Millions drawing, priced at a modest $2 each, are available for purchase in 45 states across the country, as well as in the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.
In a parallel spectacle, Monday night saw the drawing of the Powerball lottery, boasting an equally impressive jackpot of $800 million. Despite the fervent hopes of countless participants, no winners emerged to claim this colossal prize.
The largest single lottery prize ever recorded in U.S. history remains etched in memory—an awe-inspiring $2.04 billion, claimed by a solitary Powerball ticket holder in California in November 2022. This remarkable jackpot stands as a testament to the extraordinary fortunes that can be won through the sheer luck of a lottery draw, captivating the imagination of dreamers everywhere.