Mega Millions Jackpot Once Again Gets Closer to $1 Billion

The Mega Millions jackpot survived the drawing on Tuesday night. By now, the estimated prize of the jackpot is $940 million, which means that it is likely to hit the billion-dollar mark by the next drawing.

Jackpot in Mega Millions Survives Tuesday Drawing

Earlier this week, there were some 2.9 million winning Mega Millions tickets. The prizes started from $2 all the way up to $4 million, yet the grand prize remained intact. Still, there were six tickets that matched five white balls which brought the lucky winners the second-best prize. Three of the tickets were sold in Virginia, Texas and Maryland, each winning the standard $1 million prize. On the other hand, there were three tickets with the second-best prize sold in South Dakota, Mississippi and Arizona. Those tickets included an extra $1 purchase Megaplier, which boosted the prize 4X to $4 million each. The lucky winners from Mississippi and South Dakota actually secured the largest-ever prizes won from Mega Millions in the two states.

During the January 3 drawing, there were 68 tickets around the US that matched four white balls along with the Mega Ball, granting them a tier-three level prize. From that total, 12 tickets paid a Megaplier which resulted in a $40,000 win for each, while 56 tickets granted the lucky winners a $10,000 prize each.

The Winner of the Jackpot Can Collect Cash or Installment Payments

Estimated at $940 million, the Mega Millions jackpot currently is the fourth largest. Still, considering that it may grow further for the next drawing, it is likely to surpass the third-largest jackpot which was $1.05 billion and was won back in January 2021. The second-biggest jackpot or $1.34 billion was won in July last year in Illinois. But it wasn’t until September when two people, who chose to remain anonymous, claimed the second-largest US jackpot. With that in mind, the largest Mega Millions jackpot won was $1.54 billion. Back in October 2018, a single ticket in South Carolina won the staggering amount.

Considering the size of the prize, the winner of the jackpot can select a lump cash option or choose installment payments. The estimated $940 million translates to a $483.5 million cash option. It’s important to mention that amount would also undergo taxes, shrinking it further.

If the winner selects installment payments, they will be able to receive the amount over a period of nearly 30 years. The next Mega Millions drawing is set for this Friday, January 6, 2023, and will be interesting to see if the jackpot will survive and continue to grow.