Mega Millions Jackpot Now The Biggest In History

Jeannie Matthews
October 21, 2018

Mega Millions officials said no tickets matched all six numbers to claim the estimated $1 billion grand prize in Friday night's draw.

The previous record Mega Millions jackpot was $656 million, claimed in the drawing on March 30, 2012.

All eyes were on the latest drawing Friday night, when the jackpot was at an already mind-boggling $1 billion.

That just beat the current record $1.586 billion Powerball jackpot that had three winning tickets in January 2016.

If more than one victor is picked, the jackpot would be divided proportionately, as happened when the previous Mega Millions record of $656 million was drawn in March 2012 and was shared by winners in Kansas, Illinois and Maryland, a lottery official said.

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The estimated cash option for the new jackpot - should a victor choose to take a one-time lump sum payment instead of annual payouts over 30 years - is about $905 million, according to Mega Millions officials.

The odds are pretty good that a victor - or winners - will get good news on Tuesday night. After federal taxes and state deductions, which vary across the country, winners will generally end up with around half that amount to pay for their yacht shopping.

The 24 semi-weekly Mega Millions draws have failed to produce a top victor since July 24, when an 11-member office pool in Santa Clara County, California, hit a $543 million jackpot. At the time, 11 people split a $543 million prize in California. The winning numbers for the approximately $430 million pot will be drawn Saturday night.

The jackpot has been rolling every drawing since July 27, when it started at $40 million. Some were worth up to $1 million.

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