Yes, you did read that correctly. The Mega Millions just jumped again. This time, it’s up to $600 million.
No one won the $520 million jackpot this week so the prize climbed again for next Tuesday’s upcoming drawing, according to CNBC, so it jumped up to $600 million with the winner’s cash option amount landing at $442 million.
Though this jackpot is pretty massive, this is only the 8th highest jackpot in the history of the lottery. The biggest one came back in 2016 when the winner won a $1.58 billion (!!!!) Powerball jackpot that was ultimately split between three winners.
The taxes on the winnings can get pretty crazy, according to CNBC. Look at this.
“For the $600 million Mega Millions jackpot, the cash option — which most winners choose instead of an annuity — is $442.4 million. The 24% withholding would shave about $106.2 million off before the prize reaches you.”
Sheesh. That is what it is, though. That’s still a whooooole lot of money.
As far as your chances, though? I wouldn’t hold my breath. The chances of actually hitting the entire Mega Millions jackpot is 1 in 302 million, per CNBC. You have a better chance of getting struck by lightning at 1 in 500,000.
