World News | USD 1.58 Billion Mega Millions Jackpot is Third-largest in US History

Las Vegas, Aug 9 (AP) Lottery players will have another shot on Tuesday night at a massive Mega Millions prize that ranks as the third-largest jackpot in the US history.

The estimated USD 1.58 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.

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Each drawing without a winner pushes the prize closer to the record USD 2.04 billion Powerball jackpot that someone in California won last year. The second largest in size was in 2016, when the Powerball jackpot reached a nearly identical amount of USD 1.586 billion.

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

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The USD 1.58 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 USD 783.3 million.

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

Mega Millions is played in 45 states, Washington, DC, and the US Virgin Islands.(AP)

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)