What is the largest Mega Millions jackpot in history? Stakes go up to $790M for top prize
The Mega Millions jackpot prize increased to $790 million as no lucky winners claimed the $660 million prize on July 22. The $790 million bounty is the fourth largest prize being offered in US lottery history.
Among 'smaller' prizes, four lucky winners won $1 million each. The last winner of the Mega Millions jackpot came from Tennessee on April 15, who won $20 million in prize money, while the year’s biggest winner from California took home $426 million, having won in January itself. However, the biggest ever Mega Millions jackpot was an eye-watering $1.537 billion from South Carolina in 2018. The winner chose to stay anonymous.
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Had someone won the July 22 jackpot, they would have been able to withdraw $388 million after tax deductions. The new cash payout stands at $464.4 million. The odds of cracking the jackpot in Powerball or Mega Millions are said to be around one in 292 million.
I’m starting to sound like a broken record…but no one won Friday’s #MegaMillions jackpot. Meaning Tuesday’s jackpot is almost $800 million. #News19 pic.twitter.com/i6w83EvoqC
— Adam Lautenschlager (@Adam_Longname) July 23, 2022
Also, here's one of the smaller winners of the latest Mega Millions draw, who took home $1,500 in the cash-out option.
Jennifer Bolton from Gautier won $1,500 on her Mega Millions ticket purchased from Clark Oil Company on Hwy. 90, Gautier. As a novice player, she was very surprised that she won, but it encouraged her to keep playing! Way to go, Jennifer! pic.twitter.com/8WU4Xz5p3N
— themslottery (@TheMSLottery) July 22, 2022
Here's how to play Mega Millions
According to the Mega Millions website, tickets cost $2 per play. Players are required to pick six numbers from two separate pools, five different numbers from 1 to 70 (the white balls) and one number from 1 to 25 (the gold Mega Ball) - or select Easy Pick/Quick Pick. A player wins the jackpot by matching all six winning numbers in a drawing. The starting jackpot varies based on sales and is announced before each drawing. That said, there are nine ways to win a prize in Mega Millions, ranging from the jackpot down to the ticket fee of $2.
If you win the jackpot, Mega Millions offers two options -- annuity and cash. The Mega Millions annuity is paid out as one immediate payment followed by 29 annual payments, with each payout being 5% larger than the previous one. This option is recommended as it "helps protect winners’ lifestyle and purchasing power in periods of inflation." On the other hand, the cash option provides a one-time, lump-sum payment that is "equal to all the cash in the Mega Millions jackpot prize pool."
