The cash option for the grand prize is $487.9 million before taxes. There have only been two other jackpots higher than the current one, both of them were worth more than $1 billion.
Lottery officials on Tuesday told FOX 29's Chris O'Connell that as of 4 p.m., more than 6,300 tickets were being sold per minute in Pennsylvania. Even with a slim-to-none chance of winning the Mega Millions, everyone has a plan if the dream came true. One lucky winner could become very rich in tonight's Mega Millions lottery, which is not at $810 million. FOX 29's Hank Flynn has the story.
"I would pay off my bills, I guess I would buy a new house, I would donate some money and all my family would get part of it," a lottery hopeful told FOX 29. Mega Millions tickets cost $2 per play. Players win the jackpot by matching all six numbers in a drawing. If no one wins the jackpot, the money is added to the jackpot for the next drawing.
For those lucky enough to become a Mega Millions jackpot winner, they get the choice of a cash option or an annual payout. The annuity option means getting an initial payment followed by 29 annual payments, and each payment is 5% larger than the previous one. For those that select the cash option, they receive a one-time, lump-sum payment that is equal to all the cash in the Mega Millions jackpot prize pool after taxes.
The odds of winning the Mega Millions jackpot prize is roughly 1 in 302,575,350, lottery officials said. But a player’s overall chance of winning any prize is 1 in 24.
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