Tuesday's Mega Millions now at $1.55 billion, the 3rd-largest in U.S. lottery history

NPR | By The Associated Press

Published August 7, 2023 at 11:16 PM MDT

Lottery forms are shown, Monday, Aug. 7, 2023, at the Presidente Supermarket in the Little Havana neighborhood of Miami. Mega Millions jackpot has grown to $1.55 billion, making it the third-largest ever ahead of Tuesday night's drawing.

Lottery players will have another shot Tuesday night at a massive Mega Millions prize that ranks as the third-largest jackpot in U.S. history.

The estimated $1.55 billion prize has been gradually building for months thanks to 31 straight drawings without a jackpot winner. The last time someone won the game's top prize was April 18.

Each drawing without a winner pushes the prize closer to the record $2.04 billion Powerball jackpot that someone in California won last year.

Mega Millions jackpot winners are so rare thanks to odds of 1 in 302.6 million.

The $1.55 billion payout would go to a winner who opts for an annuity, doled out over 30 years. But people usually prefer a lump sum option, which for Tuesday's jackpot would be an estimated $757.2 million.

The money would be subject to federal taxes. Many states also tax lottery winnings.

Mega Millions is played in 45 states, Washington, D.C., and the U.S. Virgin Islands.