Mega Millions Jackpot Surpasses $1 Billion for August 1st

The Mega Millions jackpot continues its upward march through the month of August, with an estimated prize of $1.05 billion ($527.9 million cash) on tap for the next drawing on Tuesday, August 1st. If won at that level, it is tied for the fourth-largest jackpot in the history of the game. The last Mega Millions jackpot was won back on April 18th, over 3 months ago!

It was almost exactly one year ago when the jackpot reached similar heights, ultimately winning at $1.337 billion on July 29, 2022. That was the third time Mega Millions awarded a prize greater than $1 billion; there have now been four winning jackpots of $1 billion or more.

TOP TEN MEGA MILLIONS JACKPOTS:

$1.537 billion 10/23/2018
$1.348 billion 1/13/2023
$1.337 billion 7/29/2022
$1.050 billion 1/22/2021
$1.050 billion CURRENT DRAWING
$656 million 3/30/2012
$648 million 12/17/2013
$543 million 7/24/2018
$536 million 7/8/2016
$533 million 3/30/2018

The last drawing includes a big $5 million winner in Pennsylvania, one of five tickets nationwide that matched the five white balls for the game’s second-tier prize. Another Pennsylvania ticket takes home the standard $1 million prize in the July 28 drawing, along with tickets in Arizona, California, and New York.

Across the country, 92 tickets matched four white balls plus the Mega Ball to win the third-tier prize. Fourteen of those tickets are worth $50,000 each because they also included the optional Megaplier. The other 78 win the standard $10,000 each.

IF I WIN THE JACKPOT:

Annuity option: The Mega Millions annuity is paid out as one immediate payment followed by 29 annual payments. Each payment is 5% bigger than the previous one. This helps protect winners’ lifestyle and purchasing power in periods of inflation.
See more information about the annuity option.

Cash option: A one-time, lump-sum payment that is equal to all the cash in the Mega Millions jackpot prize pool. Minus taxes, of course.

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