Due to high sales, officials in the states participating in the Mega Millions® Lotto game have increased the estimated jackpot amount for the Tuesday, January 1 drawing to $425 million or $254.6 million with the cash option selected.
The Mega Millions jackpot starts at $40 million and continues to grow by at least $5 million each drawing until it is won. There have been 19 consecutive Mega Millions drawings since October 26 without a jackpot winner. This run has grown the estimated jackpot for the Tuesday, January 1 drawing to $425 million or $254.6 million with the cash option selected – the 8th-largest jackpot in Mega Millions history.
The largest Mega Millions jackpot on record occurred in October 2018 when one winning ticket was sold in South Carolina for a $1.537 billion jackpot. This prize has not been claimed to date.
Mega Millions jackpot winners have two options for collecting their payment: 30 annuity payments or one cash payment at present value. The annuity option provides annual payments that increase each year. The present cash value is less than the advertised jackpot, which is based on the 29-year annuity option. Winning Mega Millions numbers are announced every Tuesday and Friday at 10:00 p.m. Central Time and posted at the Nebraska Lottery website, nelottery.com.