The $900 Million Question: Mega Millions Jackpot Continues Climb
The Mega Millions jackpot has surged to an estimated $900 million after the latest drawing failed to produce a grand prize winner. The massive prize pool, which continues to grow, now ranks among the largest lottery jackpots in U.S. history, driving intense public interest and ticket sales across the 45 participating states, the District of Columbia, and the U.S. Virgin Islands.
The previous drawing, held on Friday night, offered a staggering $843 million prize. However, without a ticket matching all six numbers—the five white balls and the gold Mega Ball—the jackpot rolled over, adding hundreds of millions to the pot.
For players hoping to secure the life-changing sum, the next opportunity to win will be the drawing scheduled for Tuesday, [Next Tuesday Date in 2025].
Drawing Results and Prize Breakdown
While the grand prize remained elusive, the latest drawing did result in significant wins for players matching some of the numbers. Lotteries are structured to provide tiered prizes, ensuring that even without the jackpot, millions of dollars are distributed.
Key Payouts from the Latest Drawing
Although the exact winning numbers from the latest drawing are specific to that event, the structure of the Mega Millions game ensures that players who match the five white balls—but miss the Mega Ball—secure a substantial second-tier prize, typically $1 million (or more if the Megaplier option was purchased).
In the absence of a grand prize winner, attention immediately shifts to the two critical financial figures associated with the $900 million prize: the annuity value and the cash option.
Understanding the Cash Value and Tax Implications
When a player wins the Mega Millions jackpot, they face an immediate, crucial financial decision: take the prize as a 30-year annuity or a lump-sum cash payment.
Annuity vs. Cash Option
The advertised $900 million is the annuity value, paid out over 30 years in increasing annual installments. The vast majority of winners, however, opt for the immediate cash option, which is significantly lower due to the time value of money and current interest rates.
For the current $900 million jackpot, the estimated cash option is approximately $432 million (before taxes). This is the amount the lottery pool currently holds in liquid assets to cover the prize.
The Impact of Taxes
Regardless of the option chosen, the prize is subject to substantial federal and state withholding taxes, a critical detail often overlooked by hopeful players. Lottery winnings are treated as ordinary income by the IRS, placing the winner in the highest federal tax bracket.
- Federal Withholding: The IRS immediately withholds 24% of the prize. However, the final federal tax liability can be up to 37%.
- State Taxes: State tax rates vary dramatically. States like California and Texas do not tax lottery winnings, while others impose significant levies, further reducing the final take-home amount.
Historical Context: Ranking the Mega Jackpots
While $900 million is an extraordinary sum, it is not the largest jackpot in U.S. history. The size of this prize places it firmly within the top ten largest jackpots ever recorded, highlighting the recent trend of massive, multi-state lottery payouts driven by high ticket prices and low odds.
As of 2025, the largest lottery jackpots have typically exceeded the $1 billion mark. This $900 million prize is a strong contender for the top five largest Mega Millions prizes, though it falls short of the record-breaking Powerball and Mega Millions payouts seen in recent years.
The Largest U.S. Lottery Prizes (For Context)
- $2.04 Billion (Powerball): Won in November 2022.
- $1.765 Billion (Powerball): Won in October 2023.
- $1.602 Billion (Mega Millions): Won in August 2023.
- $1.586 Billion (Powerball): Won in January 2016.
- $1.537 Billion (Mega Millions): Won in October 2018.
The current $900 million jackpot demonstrates the high-stakes environment of modern multi-state lotteries, where jackpots frequently approach or surpass the billion-dollar threshold after extended roll periods.
How to Play and the Astronomical Odds
To win the Mega Millions jackpot, a player must match five numbers from a pool of 70 white balls and one number (the Mega Ball) from a pool of 25 gold balls. The cost of a standard ticket is $2.00, with an optional Megaplier feature available for an extra dollar.
The Reality of the Odds
While the dream of winning is powerful, the statistical reality of hitting the grand prize is exceptionally slim. The odds of matching all six numbers are fixed, regardless of the jackpot size or the number of tickets sold.
- Odds of Winning the Grand Prize: 1 in 302,575,350
- Odds of Winning the $1 Million Second Prize: 1 in 12,607,306
- Overall Odds of Winning Any Prize: 1 in 24
These odds illustrate why the jackpot often rolls over for months, leading to the current nine-figure sum. The low probability ensures that when a winner is finally drawn, the prize is truly historic.
Key Takeaways for Potential Players
For those considering purchasing a ticket for the upcoming Tuesday drawing, here are the essential facts and context:
- Current Jackpot: Estimated $900 million (annuity).
- Cash Value: Estimated $432 million (lump sum, pre-tax).
- Next Drawing: Tuesday, [Next Tuesday Date in 2025].
- Tax Impact: Winnings are subject to significant federal and state income taxes.
- Odds: The statistical probability of winning the grand prize remains 1 in 302.6 million.
Conclusion and What’s Next
The surge of the Mega Millions jackpot to $900 million is a major financial and cultural event, capturing national attention and driving millions of non-regular players to purchase tickets. This phenomenon underscores the unique role lotteries play in public finance and personal aspiration.
If the Tuesday drawing once again fails to produce a winner, the jackpot is expected to cross the $1 billion threshold, placing it among the most significant lottery prizes in global history and further intensifying the ticket-buying frenzy. Until then, state lottery officials across the country will be preparing for record sales as the deadline for the next drawing approaches.
Original author: JON HAWORTH
Originally published: November 8, 2025
Editorial note: Our team reviewed and enhanced this coverage with AI-assisted tools and human editing to add helpful context while preserving verified facts and quotations from the original source.
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