The Mega Millions jackpot has soared to an estimated $1 billion ahead of the Christmas Eve drawing on Tuesday, offering one lucky winner the chance to claim a life-changing prize.
Seventh-Largest Jackpot in History
If someone matches all six numbers in Tuesday’s drawing, they will win the seventh-largest prize in the history of Mega Millions. The jackpot will also be the largest ever awarded in December.
The prize’s lump sum cash option is valued at approximately $448.8 million, according to the Mega Millions website. Alternatively, winners can opt for annual payments over time. It’s important to note that all winnings are subject to both state and federal income taxes.
A Record-Setting Mega Millions Jackpot in the Making
The current jackpot has been growing since September, when a Texan won $810 million. No one has matched all six numbers in the 29 subsequent drawings, causing the prize to grow to its present value.
In recent years, several record-breaking lottery prizes have captured attention. In 2022, a California man claimed the largest-ever lottery prize, an astonishing $2.04 billion Powerball jackpot. Earlier this year, another California resident won a $1.7 billion Powerball prize. Meanwhile, the largest Mega Millions jackpot was claimed by a Florida winner in 2023, who took home a $1.6 billion prize.
Chances of Winning Mega Millions
The odds of winning the Mega Millions jackpot are approximately one in 302,575,350, according to the official Lotto website.
While no one has won the jackpot since September, the Christmas Eve drawing is not without precedent. In 2022, a $68 million Mega Millions jackpot was awarded on Christmas Eve, though the prize went unclaimed, as reported by ABC News.
As Tuesday’s drawing approaches, the prospect of a billion-dollar Christmas has left many hopeful that the next Mega Millions winner could wake up to an extraordinary holiday gift.
