Mega Millions lottery drawing time and everything to know as jackpot hits $1.58bn – latest
Prize money counts among largest-ever US drawings in lottery history
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Your support makes all the difference.The winning numbers for Tuesday’s Mega Millions jackpot drawing have been revealed.
The prize is estimated to be $1.58bn – a record high for the lottery that counts among the largest-ever US drawings in lottery history.
The winning numbers announced today are: 13 - 19 - 20 - 32- 33 – and mega ball 14.
The Mega Millions jackpot climbed to an estimated $1.58bn after no tickets matched all six winning numbers from Friday’s drawing.
To win the jackpot, a player’s ticket must match all six winning numbers.
The chances of this happening are exceptionally rare, however, as the odds of finding oneself with a ticket that matches all six numbers are one in 302.6 million.
As for how much money the winner of Tuesday night’s drawing would actually receive, the $1.58bn payout would go to a winner who opts for an annuity, doled out over 30 years.
But winning individuals usually prefer a lump sum option, which for Tuesday’s jackpot would be an estimated $783.3m. The money would then be subject to federal taxes, while many states also tax lottery winnings.
Should you opt for lump sum or 30-year payout?
Ahead of Tuesday night’s drawing, the Mega Millions jackpot has climbed to an estimated $1.58bn, with a cash option of $783.3m.
According to Mega Millions, annuity recipients can expect an initial payout, followed by 29 years of annual payments, which increase five per cent every year. Alternatively, those who choose the lump sum receive a one-time amount.
But, for those lucky players who win the lottery, which option is better?
According to Andrew Stoltmann, a Chicago-based lawyer who has represented several lottery winners and who spoke to CNBC, 95 per cent of winners choose the lump-sum option. However, he described the choice as a “big mistake,” as he claimed that “the curse of the lottery is real” and that individuals who receive the money all at once are more likely to fall victim to the three “big drains”: bad investments, relatives who ask for money and overspending.
Latest winning numbers announced for $1.58bn jackpot prize
The winning numbers for Tuesday’s Mega Millions jackpot drawing have been announced.
The prize is estimated to be $1.58bn – a record high for the lottery and that count among the largest-ever US drawings.
The winning numbers announced today are: 13 - 19 - 20 - 32- 33 – and mega ball 14.
The drawing tops Mega Millions’ previous high of $1.537bn, according to the lottery. A single ticket sold in South Carolina had won that prize.
‘It’s exciting to watch Mega Millions grow’
“It’s exciting to watch Mega Millions grow,” said Georgia Lottery President and CEO Gretchen Corbin, lead director of the Mega Millions Consortium, in a statement.
She added, “As the jackpot climbs ever higher, we thank our players and retailers for their support, which benefits the many good causes funded by our participating lotteries.”
The cash payout option is estimated at $783.3m, the lottery said, adding that “at this level, jackpots are hard to predict with complete accuracy.”
Mega Millions only lottery to have awarded four jackpots exceeding $1bn
Mega Millions holds the distinction of being the sole lottery game to have awarded four jackpots exceeding $1 billion.
The all-time record for the largest lottery jackpot was a $2.04bn Powerball prize won last year in California.
Likelihood of winning jackpot stands at 1 in 302,575,350
The last four Mega Millions jackpots of $1bn each were claimed in 2018, 2021, 2022 and January 2023.
Mega Millions is available in 45 states, as well as in Washington, DC, and the US Virgin Islands. A single-play ticket costs $2.
To secure the jackpot, players are required to match all five numbers along with the Mega Ball number.
The likelihood of winning the jackpot stands at 1 in 302,575,350.
Ahead of Tuesday night’s drawing, eager individuals are sharing their hopes and dreams for a winning ticket.
“The dream is still alive. Mega Millions is at $1.58bn. Yep, gonna be a billionaire in the morning. Just like the last three drawings where I was gonna be a billionaire,” one hopeful player tweeted.
Another individual wrote: “Oh my gosh, you guys, I almost forgot! Tonight is when I win the Mega Millions!!!”
Former lottery winner reveals what players should know
Whether it’s $1bn or $1.58bn, winning the lottery can mean a life-changing amount of money. However, a previous lottery winner has revealed that there are some things that do not change when you win millions of dollars.
Former lottery winner reveals what doesn’t change after you win millions
The $1.5bn Mega Millions jackpot has yet to find a winner
When is the next Mega Millions drawing and how can you watch it?
The next drawing for the Mega Millions lottery will take place on Tuesday 8 August at 11pm ET.
Players can tune in to watch the results on TV or online. The results are typically broadcast live on multiple TV channels, including ABC, CBS, and NBC.
Additionally, players can visit the official Mega Millions website, where drawings are live-streamed every Tuesday and Friday at 11pm ET.
Drawings are also streamed live on Mega Millions’ YouTube channel, which can be found here.
Everything lottery winners need to know
If you find yourself with a winning lottery ticket, there are a few important things to know, according to experts.
From whether you should sign your winning ticket to who you should tell, this is what players should consider before they make any decisions.
What to do if you win the lottery, according to experts
The $1.5bn Mega Millions jackpot is third largest in US
Should you opt for lump sum or 30-year payout?
Ahead of Tuesday night’s drawing, the Mega Millions jackpot has climbed to an estimated $1.58bn, with a cash option of $783.3m.
According to Mega Millions, annuity recipients can expect an initial payout, followed by 29 years of annual payments, which increase five per cent every year. Alternatively, those who choose the lump sum receive a one-time amount.
But, for those lucky players who win the lottery, which option is better?
According to Andrew Stoltmann, a Chicago-based lawyer who has represented several lottery winners and who spoke to CNBC, 95 per cent of winners choose the lump-sum option. However, he described the choice as a “big mistake,” as he claimed that “the curse of the lottery is real” and that individuals who receive the money all at once are more likely to fall victim to the three “big drains”: bad investments, relatives who ask for money and overspending.
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