Massachusetts' second-biggest jackpot ever just got bigger

Just how big can a Megabucks jackpot get?

On June 23, the Massachusetts Lottery flagged something rare. The jackpot for the June 24 drawing had climbed to an estimated $21.15 million. That made it the second-largest jackpot in Megabucks history, and the largest since 1985.

Nobody has won it since.

Now the jackpot sits at an estimated $21.6 million, with a cash option of $14.68 million. The next drawing closes tonight, July 1, at 9 p.m. ET. If nobody hits all six numbers, this jackpot keeps climbing toward a record that has stood for over 40 years.

The record still standing

The largest Megabucks jackpot ever was $21.7 million. It was won on October 16, 1985, and split among eight winning tickets. At the time, that made it the third-largest jackpot in U.S. lottery history.

Want the biggest single-ticket win in Megabucks history? That belongs to a ticket sold in Ware, Massachusetts. It hit $16.35 million in the September 10, 2022, drawing, back when the game was called Megabucks Doubler.

Here's how the top ten stacks up. The third place goes to a $21,148,080 jackpot from January 8, 1986. The fourth is $18,218,080, won March 10, 1984. The fifth is the $16.35 million Ware ticket from September 10, 2022. Rounding out the list: $15,619,880 on July 14, 1984; $15,210,840 on July 8, 1987; $14,628,740 on May 29, 1985; $14,263,543 on November 18, 2000; and $13,855,359 on October 6, 1990.

How Megabucks works

Playing is simple. Pick six numbers between 1 and 44, or let a Quic Pic generate them for you. Each play costs $2. You can lock in the same numbers for multiple drawings if you want to skip the counter next time.

Drawings happen three times a week: Monday, Wednesday, and Saturday, at 9 p.m. ET.

What are the odds?

Winning the jackpot means matching all six numbers. That happens 1 in 7,059,052 times. Long odds, but the smaller prizes come around more often. Match five of six, and you win $5,000, at odds of 1 in 30,961. Match four of six, and you win $200, at odds of 1 in 669. Match three of six, and you win $4, at odds of 1 in 42.

Overall odds of winning something: 1 in 39.3.

Where does the jackpot money come from?

About 61.79% of every dollar wagered goes into the prize pool. The jackpot itself grows based on ticket sales and how often it's hit. The Massachusetts Lottery guarantees a floor: the jackpot never drops below $500,000, paid as $25,000 a year for 20 years.

Win big, and you get 60 days to choose how you're paid. Take the annuity, and you get equal payments spread across 20 years. Take the cash option, and you get a single lump sum equal to the announced cash value divided by the number of winning tickets.

So will tonight's drawing finally beat a record that's stood since 1985? We'll find out at 9 p.m. ET.