This notable prize now stands as the sixth-largest in the history of Mega Millions, with the jackpot winners facing one-in-302-million odds. However, the eventual winner will take home just over one-third of the total amount after paying necessary taxes.

It is worth noting that the five larger jackpots in Mega Millions history all exceeded $1 billion. The remarkable growth of the current jackpot reflects the lottery's popularity and the excitement that surrounds the chance to win life-changing sums of money.

In the latest drawing, a staggering 1.1 million tickets were deemed winners. Though not hitting the jackpot, two lucky individuals matched the five white balls, securing a $1 million prize each. Since the Mega Millions jackpot was last won in December, more than 18.5 million non-jackpot-winning tickets have been sold, indicating the immense interest and widespread participation in the lottery.

Mega Millions enthusiasts need not wait long for the next drawing, as it is scheduled to take place on Tuesday at 11 p.m. EDT. Additionally, Powerball will hold its own drawing on Saturday night, offering a tempting $521 million jackpot to eager players. Opting for the lump sum option in this case would amount to $254.8 million, which would be reduced to $193.6 million after a 24% federal tax withholding. Alternatively, with a federal marginal rate of 37%, the total would decrease to $160.5 million.

It should be noted that over the past seven years, the largest lottery jackpots have been won, with both Mega Millions and Powerball expanding the pool of white balls to choose from in 2017. While this resulted in decreased odds of winning, it also allowed for larger jackpots to accumulate over longer periods, further fueling the excitement and anticipation surrounding these popular lotteries.

As the Mega Millions jackpot inches closer to a remarkable $1 billion, lottery enthusiasts across the country eagerly await their chance to win life-altering sums of money.