The Mega Millions jackpot is over a billion dollars. That makes it the third largest lottery prize in the nation. The prize has been growing due to no one matching the six-selected numbers of the game for 29 straight draws. The jackpot has been at over a billion dollars since it was first sold in February 2010.
In the Mega Millions and Powerball jackpot lottery games, winners can choose to receive their jackpot in a lump sum or in 30 annual payments. Each payment is 5% larger than the previous one. In the Mega Millions lottery, the first payment is $20 million, with the rest rising by 5% annually. It’s a great way to receive your prize over a long period of time.
Mega Millions is a multi-state lottery. It’s available in 45 states, Washington, DC, and the US Virgin Islands. Drawings occur twice a week and you must purchase a ticket to play. You must select five numbers from a range of one to 70 and a sixth number between one and 25. If you have matched all six numbers, you will win the jackpot. The odds of winning are one in 303 million.
The odds of winning a jackpot are similar in both Powerball and Mega Millions. However, the Powerball lottery has different rules for choosing between cash and annuity. In Florida, players have 60 days to decide their lottery strategy after winning a jackpot. Those in Texas and New Jersey must select between cash and annuity when they play the game. However, after winning a jackpot, they can change the annuity ticket to cash if they wish.