Mega Millions Jackpot Hits $672 Million: What You Need to Know

Topline

The Mega Millions lottery jackpot has grown to $672 million! That’s the biggest lottery prize of the whole year so far.

How did it get so big? On Tuesday night, nobody picked all the winning numbers, so the money kept growing. But here’s the catch: if someone wins, they won’t actually get to keep all $672 million because taxes and other deductions take a big bite out of it.

Important Point: Even though the jackpot is $672 million, the winner takes home much less after taxes!

Key Facts

Here are the simple facts about what happened and what a winner would get:

• The winning numbers drawn on Tuesday night were: 2, 4, 10, 48, 56, and the gold Mega Ball was 22.
• Two ways to get paid: If someone wins next time, they can pick one of these:
  • Get the full $672 million split into 30 yearly payments (a little each year for 30 years), OR
  • Take a smaller one-time cash payment of $293.3 million (most winners pick this).
• Mandatory federal tax: If they take the cash, the government immediately keeps 24% for taxes. That drops the $293.3 million to about $222.9 million.
• More federal tax: The winner may also pay up to 37% in federal tax depending on their other income. This lowers the cash to around $184.8 million.
• If they pick yearly payments: Each year they’d get about $22.4 million, but after the 37% federal tax, they’d keep about $14.1 million a year.
• State taxes: Where you live matters! Some states like New York take an extra 10.9% from lottery wins. Others like Texas, Florida, and California take none.

What To Watch For?

Want to know when the next chances to win happen?

• The next Mega Millions draw is on Friday night.
• The Powerball jackpot is now $498 million, and its next draw is on Wednesday night.

Surprising Fact

Winning the lottery is super hard—like impossible-hard!

• Mega Millions odds: 1 in 290.4 million (you’re basically picking one special grain of sand on a huge beach).
• Powerball odds are even worse: 1 in 292.2 million.

So buying a ticket is fun, but don’t bet the farm on winning!

Key Background

Some lottery history from this year:

• The biggest lottery prize won so far in 2024 was a $533 million Mega Millions jackpot won by someone in Illinois back in March.
• No other prize this year has gone over $500 million.
• The biggest Powerball win this year was $250.8 million, won by a player from Arkansas.

Summary

The Mega Millions jackpot is now $672 million after nobody won on Tuesday. A winner could choose 30 yearly payments or a $293.3 million cash lump sum, but taxes cut the cash down to about $184.8 million. The next draw is Friday, and Powerball ($498 million) draws Wednesday. Winning is extremely unlikely, and the year’s biggest prior win was $533 million in March.

FAQ

1. Why is the jackpot so big?
Because no one matched all six numbers on Tuesday, so the prize money rolled over and grew to $672 million.

2. Do I get all the money if I win the jackpot?
Not really. The advertised amount is before taxes. After federal and maybe state taxes, you keep much less—around $184.8 million in cash if you pick the lump sum.

3. What’s the difference between the two payout options?
You can get the full amount spread over 30 years, or a smaller cash amount right away (about $293.3 million before tax). Most winners take the cash.

4. Which states don’t tax lottery winnings?
States like Texas, Florida, and California do not add state tax to lottery prizes. New York, however, takes 10.9%.

5. How hard is it to win?
Very hard! Your odds are about 1 in 290.4 million for Mega Millions—slightly better than Powerball’s 1 in 292.2 million.