Record $1.6 Billion Mega Millions Jackpot Up For Grabs Tonight

1.6B Mega Millions prize due to simple math some surprises

"There are plenty of people who know how to exploit that ignorance". People from MS are even traveling to Louisiana to purchase tickets. She said prize recipients should create a trust and hire a team of lawyers, financial advisers and security.

The drawings are held on CW20 around 11 p.m.

If you win, your next decision is to take the cash option which would be around $904 million or you can take the initial payment and annual installments over the next 29 years. Residents of New York City would pay an additional tax of 3.9 percent.

What's more, the jackpot is likely to grow even larger before Tuesday, as word of the record-breaking grand prize grows and prompts even people who don't normally play the lottery to buy a ticket, Medenica said.

The current jackpot beats the previous record, a $1.586bn jackpot for a Powerball drawing in 2016.

At $1.6 billion and growing, Mega Millions is at an all-time high for lotteries. The odds of winning the top prize was approximately 1 in 258 million. Officials don't have an estimate on how many tickets would be sold for that potential drawing, and they haven't said how large the estimated prize would be.

Put the lottery on - and do it now because the US Mega Millions jackpot grew to a ridiculous $1.6 billion (£1.2bn) after Friday's draw ended with no victor.

Lottery prizes more than $5,000 are subject to state and federal taxes, meaning winners in Maryland take home about two-thirds of the total prize money. But he said the thought of winning the US$1.6b scares him.

The financial website The Motley Fool says the chance of someone winning the Mega Millions jackpot is 1 in 302,575,350. "This record Mega Millions jackpot created a lot of fun and along the way that fun produced a big win for education in our state". In other words, online Mega Millions tickets are not available across state borders. "You want proof that your money went towards the ticket and you want proof of the tickets being purchased".

Both lottery jackpots have been increased recently by rule changes that have reduced the odds of winning.

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