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A large Mega Millions jackpot of $489 million awaits a winner on Tuesday night. The drawing is set for 10 pm CT. The cash option for the prize is $229.3 million.
The jackpot has climbed steadily since a Texas ticket won $800 million in September. This was the seventh largest Mega Millions prize ever.
Tuesday’s potential jackpot is close to being among the top 10 largest in Mega Millions history. It needs to reach an estimated $553 million to surpass a $552 million jackpot won in Illinois this June. The largest Mega Millions jackpot was $1.602 billion, won in Florida in August.
Actual winnings will be less than the advertised jackpot due to taxes. USA Mega estimates the annuity prize could range between $256 million and $309 million. The cash prize range is estimated between $134.2 million and $144.5 million.
Experts advise jackpot winners, even if sharing the prize, to quickly assemble a team. This team should include an attorney, a tax advisor, and a financial advisor. They also suggest: “protecting your ticket and keeping your victory a secret for as long as possible.” Remaining anonymous is only possible in a few states.
Mega Millions tickets cost $2. They are sold in 45 states, Washington D.C., and the U.S. Virgin Islands. Drawings occur on Tuesdays and Fridays at 10 p.m. CT. The odds of winning any Mega Millions prize are 1 in 24. Changes to the game are planned for spring 2025.
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