Originally a once weekly lottery draw called The Big Game, the Mega Millions Lottery has been running since 1996. Lottery jackpots for the Mega Millions Lottery were originally just available in six states, but since then the lottery has gone through many changes and a name change, to become the twice-weekly Mega Millions draw we know today.
Mega Millions jackpots are up for grabs every Tuesday and Friday evening. The Mega Millions Lottery plays in 43 American jurisdictions and base lottery jackpots are $12 million, although rollovers on the Mega Millions Lottery are common and the multi-state lottery boasts some of the biggest lottery wins in the world.
How to win the Mega Millions Lottery jackpot
During the Mega Millions Lottery draw, 5 main balls, between 1 and 56 inclusive and then one Mega Ball between 1 and 46 inclusive. To win the Mega Millions jackpot you must match all the main balls, and the Mega Ball to the ones drawn in the lottery draw.
The Mega Millions Lottery has many prize tiers in addition to the jackpot, and prize range between $2 for matching just the Mega Ball, up to the lottery jackpot for the given draw.
Mega Millions Lottery jackpots have been known to reach staggering figures, but you do need to take into account the annuity rule. Big Mega Millions prize winners must decide whether to take a smaller lump sum jackpot, or the entire pot in annuity payments, year on year. The lump sum option is the most popular option chosen by jackpot winners, with many players considering the big rollover jackpots big enough.
Odds of winning the Mega Millions Lottery jackpot
Lottery rollovers are common on the Mega Millions Lottery and this is because odds of winning the lottery jackpot are high, at around 1 in 175 million. It’s one of the hardest lottery draws in the world to win, and this means the big rollover jackpots we look forward to so much!
Overall odds of winning any prize in the Mega Millions Lottery are a little more modest at 1 in 49, and the list of weekly prize winners is extensive, and runs into millions, even when the top prize rolls over.
Mega Millions Lottery jackpots
Two players shared the biggest cash value lottery jackpot ever won on the Mega Millions Lottery in 2011 and indeed the world. The lottery jackpot was worth $380 million but the two players took the cash value, the biggest ever, and shared $240 million. However, an even bigger lottery jackpot total was won back in 2007, worth $390 million. That lottery jackpot was also shared by two players but was worth slightly less at cash value, weighing in at $233 million.
The record MegaMillions jackpot was smashed in March 2012 when three players collected a Mega Millions jackpot worth $656 million, becoming the winners of the world’s biggest lottery jackpot by quite a considerable amount.
Taxes on Mega Millions Lottery jackpots
Like many US lottery jackpots, the Mega Millions is taxable and the stated jackpot will have to be shared with Uncle Sam. Taxes vary on the Mega Millions Lottery, depending on which state you play in, so do check before you buy lottery tickets.