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The top prize for Mega Millions rose this week to $740 million, the largest amount ever offered in December in the game's history.
The draw is next Tuesday. The winner will have the option to receive a one-time cash payment of $342.9 million or annual payments over 29 years.
"The largest Mega Millions jackpot ever offered in December will be at stake next Tuesday, December 17, just in time for the holidays!" stated Mega Millions on their website.
"If it is won at that level, it would be the eighth largest jackpot in Mega Millions history," he added.
In Friday's drawing, no ticket matched all the winning numbers: the white balls 36, 43, 52, 58, and 65, along with the golden Mega Ball 16.
However, a lucky winner from Vermont took home three million dollars, while three residents from California, Massachusetts, and New York each won a million.
The last time someone won the jackpot was on September 10, when a player from Texas won $800 million.
The drawing takes place on Tuesdays and Fridays at 11:00 PM ET.
Tickets are sold in 45 states, Washington, DC, and the U.S. Virgin Islands, with overall odds of winning any prize being 1 in 24.
So far, they cost two dollars, but starting in April 2025, they will cost more than double.
In August, lottery officials announced that the price of Mega Millions tickets will increase from two to five dollars, aiming to improve the odds of winning the jackpot, increase the secondary prizes, and achieve even higher payouts.
The purpose of Mega Millions is to increase ticket sales revenue and adjust the current odds, which stand at 1 in 302.6 million, to make them less extreme, the executives stated.
They are confident that players will not complain about paying more, thanks to changes that will offer larger prizes and more frequent winners.
They argued that more people are expected to win larger prizes, which would attract more players.
Frequently Asked Questions about the Mega Millions Prize and Changes in the Game
What is the current amount of the Mega Millions jackpot?
The Mega Millions jackpot has reached 740 million dollars. This is the largest prize ever offered in December in the history of this lottery game, and the draw will take place next Tuesday, December 17.
What options does the Mega Millions winner have to receive their prize?
The winner of the Mega Millions can choose between receiving a single cash payment of $342.9 million or opting for annual payments over 29 years. This flexibility in the payment option allows winners to better plan their financial future.
What are the odds of winning the Mega Millions jackpot?
The odds of winning the Mega Millions jackpot are 1 in 302.6 million. These odds will be adjusted starting in April 2025, when the ticket price increases from $2 to $5, in order to improve the odds and the prizes.
Why will the price of the Mega Millions ticket increase in 2025?
The price of a Mega Millions ticket will rise to $5 starting in April 2025 to offer larger prizes and improve the odds of winning. This change aims to attract more players and differentiate Mega Millions from other lottery games such as Powerball.
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