HOUSTON — Many across the country are burning up with lottery fever and the Mega Millions jackpot is a hot $1.13 billion ahead of Tuesday night’s drawing.
It’s the fifth-largest Mega Million jackpot in history and the eighth-largest in U.S. lottery history. The cash value for the current jackpot is worth an estimated $537.5 million, according to the Texas Lottery Commission. If there is no jackpot winner in Tuesday’s Mega Millions drawing, the jackpot for the Friday, March 29 drawing will rise to an estimated $1.29 billion, the commission said.
“It’s an extraordinary time for Texas Lottery® players, as both Mega Millions and Powerball® are now over $800 million simultaneously for the first time in U.S. lottery history,” said Ryan Mindell, deputy executive director of the Texas Lottery. “As excitement continues to build for tonight’s Mega Millions drawing, the Texas Lottery is hoping to have its first billion-dollar winner. The higher these jackpots rise, the higher our sales climb, which is important for the Texas Lottery’s mission of generating revenue for public education. We know this is a thrilling time for our players, but we want to remind everyone to play responsibly. Also, if you are fortunate to be holding the winning ticket after tonight’s drawing, we encourage the winner to sign the ticket, put it in a safe place, seek legal and financial advice, and then call the Texas Lottery to set up an appointment to claim the prize.”
Texas has had 14 Mega Millions jackpot prize winners since it joined the game in 2003. Its most recent winner was in October 2023 when The Blue Yucca Trust won an estimated annuitized $360 million, the commission said. The winner took the cash option and deposited a cool $157,367,045 before taxes into their bank account. It’s the largest prize ever paid out to a single Texas Lottery player so far.
To win the Mega Millions jackpot, players must match all six numbers drawn including the Mega Ball. Players matching fewer numbers may not win the jackpot, but could still walk away winners. Mega Millions offers a $20 million starting jackpot and a second-tier prize of $1 million. By choosing the Megaplier® feature for $1 more per ticket, players can multiply their non-jackpot winnings by two, three, four or five times, winning as much as $5 million, the commission said.
Most of us would be happy with even a small piece of the jackpot, you know, to pay off bills, buy a small house, or maybe upgrade your wardrobe. The truth is, you have better odds of getting hit by a meteor, becoming an astronaut, or being struck by lightning… twice, than winning the Mega Millions jackpot, according to the data science team at Thrivent. So, let’s break it all the way down.
What are your odds of winning the Mega Millions jackpot?
One in 302,575,350.
What is the Mega Millions jackpot worth right now?
$1.13 billion.
What is the cash option?
$537.5 million.
When is the next drawing?
Mega Millions drawings are held every Tuesday and Friday at 10:12 p.m. CST. The next drawing is set for Tuesday, March 26.
What is the cutoff time to buy tickets?
While cutoff times differ by state, the Texas Lottery says ticket sales close for Mega Millions at 9:45 p.m. CST on the day of the drawing.
How is the winner paid?
The winner has two choices to collect their prize. Here's how it's explained by Mega Millions lottery officials:
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.
For a typical jackpot of $100 million, the initial payment would be about $1.5 million, and future annual payments would grow to about $6.2 million.
When the jackpot is $200 million, each payment is twice as big. When the jackpot is $50 million, each payment is half as big, etc.
Cash option
A one-time, lump-sum payment that is equal to the cash in the Mega Millions jackpot prize pool.
How can I win other prizes?
Didn't win the jackpot? Be sure to check your tickets because they may have won smaller prizes. Here are those odds:
- $1 million prize: One in 12,607,306 (matching all five white balls)
- $10,000 prize: One in 931,001 (matching four white balls and the Mega Ball)
- $500 prize: One in 38,792 (matching four white balls)
- $200 prize: One in 14,547 (matching three white balls and the Mega Ball)
- $10 prize: One in 606 (matching three white balls)
- $10 prize: One in 693 (matching two white balls and the Mega Ball)
- $4 prize: One in 89 (matching one white ball and the Mega Ball)
- $2 prize: One in 37 (matching the Mega Ball)
Even though you are more likely to become president of the United States than win the lottery, here are some things experts suggest you should do should you become America's next billionaire. First, call your favorite financial advisor, lawyer and accountant to assemble your money team. Second, have a clear plan. Your life will change overnight so get ready for a lot of family reunions and friends you never knew you had. Your plan will help you stay focused on your goals.
If you're playing, good luck! If you win, don't forget about your besties here at KHOU 11 News!
