MEGA MILLIONS Jackpot Tops the 1 Billion Dollar Mark for The Third Time in US Lotto History

All eyes are on the Mega Million lottery jackpot this coming Friday, July 29th, as the jackpot tops the billion-dollar mark and is estimated to settle at around $1.025 billion. It will be only the third time in Mega Millions history that the winnings have surpassed this milestone.

The last time someone won such a big amount, it was split by four Michigan residents (on one ticket) on January 22, 2021. But, the largest prize to date was won by a single South Carolina ticket on October 23, 2018. The lucky lottery winner landed a whopping $1.537 billion all to themselves.

How We got to the Billion with Mega Millions

There have been 29 consecutive prize draws with no jackpot winner, which has allowed the pot to roll over and build to the point where we’re wondering if they should rename the draw “Mega Billions” this week!

The Tuesday draw saw the pot reach a staggering $865 million, but no one managed to match the six winning numbers needed to claim the ultimate reward. As a result, ticket purchases have been coming in fast and furious in anticipation of the new mammoth top prize, which of course, has been a catalyst for the rapid growth of the pot. However, it’s not only the players who look forward to the lottery draw on Friday night. Lead director of the Mega Millions Consortium, Pat McDonald, commented:

“Seeing the jackpot build over a period of months and reaching the billion-dollar mark is truly breathtaking. We encourage customers to keep play in balance and enjoy the ride. Someone is going to win.”

Tuesday didn’t leave players empty-handed, though. Nine tickets managed to match the first five numbers. Eight of the nine scooped up $1 million in prize money each, while one managed to collect $3 million from the match. The ninth opted to play the Megaplier for an extra $1, resulting in a triple the money prize.

Should one player match all six numbers, they’ll become an instant billionaire if they opt to accept the annuity repayment option. In this case, the sum of the full jackpot is paid out annually over the next 30 years. That works out to an approximate payout of $34 million per year. Otherwise, the lucky winner can opt to settle for the cash jackpot sum of approximately $602 million. This will, of course, be deposited into their bank account as a lump sum.

If left alone again on Friday, this current jackpot will certainly leapfrog past last year’s $1.050 billion prize and start closing the gap on the world record big win. If history serves us, the law of averages dictates that a single ticket will win the pot, yet surely a prize this big would prove a sufficient haul for multiple ticket holders. So let’s hope it goes to a generous and deserving winner.

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This article was produced by PokCas and syndicated by Wealth of Geeks.

Featured Image Credit: Deposit Photos.

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