$1.55 billion Mega Millions jackpot is the 3rd largest in US history

Author: Associated Press
Published: Updated:
FILE – The awnings of a store advertise the sale of lottery tickets, including Mega Millions, Wednesday, Jan. 11, 2023, in New York. The Mega Millions prize has grown to an estimated $1.05 billion for the Tuesday, Aug. 1, 2023, drawing. (AP Photo/Seth Wenig, File)

Lottery players will have another shot Tuesday night at a massive Mega Millions prize that ranks as the third-largest jackpot in U.S. history.

The estimated $1.55 billion prize has been gradually building for months thanks to 31 straight drawings without a jackpot winner. The last time someone won the game’s top prize was April 18.

Each drawing without a winner pushes the prize closer to the record $2.04 billion Powerball jackpot that someone in California won last year.

Mega Millions jackpot winners are so rare thanks to odds of 1 in 302.6 million.

The $1.55 billion payout would go to a winner who opts for an annuity, doled out over 30 years. But people usually prefer a lump sum option, which for Tuesday’s jackpot would be an estimated $757.2 million.

The money would be subject to federal taxes. Many states also tax lottery winnings.

Mega Millions is played in 45 states, Washington, D.C., and the U.S. Virgin Islands.

Copyright ©2024 Fort Myers Broadcasting. All rights reserved.

This material may not be published, broadcast, rewritten, or redistributed without prior written consent.