Mega Millions Jackpot Climbs to $672 Million as Two Lottery Games Offer Combined Prize of $1.19 Billion

The Mega Millions jackpot has surged to $672 million after no tickets matched all six numbers drawn on Tuesday night, with the next drawing scheduled for Friday. Texas and other states are seeing a combined $1.19 billion in potential winnings across Mega Millions and Powerball this weekend, though actual take-home amounts will be substantially lower after federal and state taxes.

Prize Details and Tax Reality

The Tuesday drawing produced numbers 2, 4, 10, 48, 56, and gold Mega Ball 22, but no grand prize winner emerged. Players in the next drawing will face a critical choice: accept an annuity of approximately $672 million paid over 30 years, or take a lump-sum cash option of roughly $293.3 million.

The cash payout proves more popular among winners but carries immediate tax consequences. After a mandatory 24 percent federal withholding, the initial payout drops to approximately $222.9 million. Winners will likely face a marginal federal tax rate of 37 percent, further reducing winnings to around $184.8 million. Annual installment payments of $22.4 million would similarly decline to $14.1 million after the 37 percent rate applies.

State taxes add another layer of complexity. New York taxes lottery winnings at 10.9 percent, while Texas, Florida, and California impose no state lottery tax. A winner's final take-home amount depends heavily on residency, making location a significant financial factor.

Record-Breaking Weekend Opportunity

Friday night's Mega Millions drawing ranks as the 10th-largest in game history and represents the largest jackpot since a $983 million prize was claimed in Georgia. The jackpot has been accumulating since March 20, when it began at $50 million, with 35 consecutive drawings producing no grand prize winner.

Saturday's Powerball jackpot has reached $526 million following 33 consecutive drawings without a winner. Together, the two drawings offer players unprecedented opportunity, with a combined prize pool exceeding $1.19 billion. Powerball cash value stands at approximately $233.5 million before taxes.

Historical perspective shows Texas has produced significant lottery winners. The state has claimed 15 Mega Millions jackpot winners since 2003, including an $810 million jackpot claimed in 2024 by a Sugar Land trust. On the Powerball side, a Fredericksburg trust claimed a share of the massive $1.8 billion jackpot in 2025, the second-largest in U.S. lottery history.

Odds and Context

Mega Millions ticket buyers face astronomical odds of 1 in 290.4 million to win the jackpot, slightly better than Powerball's 1 in 292.2 million odds. The biggest lottery prize claimed nationwide this year remains a $533 million Mega Millions jackpot won by an Illinois ticket buyer in March.