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Posted on: July 4, 2023, 10:57h.
Last updated on: July 4, 2023, 10:57h.
Mega Millions doesn’t take holidays off, meaning the interstate lottery game’s scheduled Tuesday drawing will go off tonight at 11 pm EST as planned.
As millions of Americans pop up their lawn chairs and lay down blankets to watch the sky light up with fireworks, many lottery players will be dreaming about the long chance of becoming extraordinarily rich overnight. The Mega Millions jackpot for tonight’s drawing is an estimated $400 million, with a one-time cash value of $205 million.
No tickets matched the five white balls and gold Mega Ball during the Friday drawing. Those winning numbers were 13, 22, 47, 51, 55, and the Mega Ball 9.
The last Mega Millions jackpot was hit on April 19 when a lucky player in New York won a $476 million annuitized jackpot. There have been 22 drawings since without a ticket matching the six drawn numbers.
Lottery officials with the Mega Millions Consortium say Independence Day could take on a new meaning should someone hit tonight’s jackpot, as the financial independence would be life-changing.
July 4th Lottery Fireworks
Though the Mega Millions jackpot hasn’t been won in months, tonight’s odds of doing so remain constant at a measly one in 302.5 million. Though each ticket’s odds of matching all six numbers do not change, the odds of the jackpot being won decrease as demand increases since more possible ticket combinations are presumably covered.
It was just a year ago when July also began with a big Mega Millions jackpot, and the month ended with a whopping $1.3 billion winner last July 29. Can history repeat itself with another exciting July jackpot run?” a Mega Millions statement pondered.
The $1.337 billion Mega Millions jackpot won in Illinois during the July 29, 2022, drawing was at the time the game’s second-largest jackpot ever won. It was eclipsed during the Jan. 13, 2023, drawing that saw a player in Maine win a $1.348 billion prize.
Should tonight’s $400 million prize be won by a single ticket, the annuity would pay out about $253 million over the 30 years after federal taxes. The cash option would be reduced to about $129.1 million after federal taxes.
Depending on where the jackpot is won, the payout could be further reduced through state taxes. States lottery taxes vary anywhere from 0% in California, Delaware, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming to as high as 10.9% in New York.
Bigger Jackpot, Better Odds
For all the players who don’t win tonight’s Mega Millions, Powerball will offer a July 5 jackpot that’s even richer and comes with slightly better odds. The Powerball jackpot has climbed to $546 million, with a cash value of $282 million.
Powerball’s jackpot odds are one in a little more than 292.2 million. Powerball was last hit on April 19 when a player in Ohio matched all six numbers for a $252.6 million prize.
Richest US Lottery Jackpots Won
- Powerball — $2.04B — Nov. 7, 2022
- Powerball — $1.586B — Jan. 13, 2016
- Mega Millions — $1.537B — Oct. 23, 2018
- Mega Millions — $1.35B — Jan. 13, 2023
- Mega Millions — $1.337B — July 29, 2022
- Mega Millions — $1.05B — Jan. 22, 2021
- Powerball — $768.4M — March 27, 2019
- Powerball — $758.7M — Aug. 23, 2017
- Powerball — $754.6M — Feb. 6, 2023
- Powerball — $731.1M — Jan. 20, 2021
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