Mega Millions mania: $1.22B up for grabs in tonight's jackpot

The holiday season may be wrapping up, but Mega Millions is keeping the excitement alive with a life-changing $1.22 billion jackpot up for grabs in tonight's drawing. After rolling over yet again on Christmas Eve, the jackpot now ranks as one of the largest in the game's history.

From hopeful gift-givers to lottery regulars, millions are crossing their fingers for a year-end miracle that could turn holiday cheer into a life-changing fortune. Will you be the lucky ticketholder who gets the ultimate Christmas surprise?

Fifth-largest jackpot in Mega Millions history

As we head into tonight's drawing, the Mega Millions jackpot has grown to $1.22 billion. This is the fifth-largest jackpot in the game's history. The Top 10 jackpots since the game started have been:

1. $1.6 billion – August 8, 2023, drawing with one winning ticket sold in Florida.
2. $1.54 billion – October 23, 2018, drawing with one winning ticket sold in South Carolina.
3. $1.35 billion – January 13, 2023, drawing with one winning ticket sold in Maine.
4. $1.34 billion – July 29, 2022, drawing with one winning ticket sold in Illinois.
5. $1.22 billion – December 27, 2024, drawing, but will there be a winner?
6. $1.13 billion – March 26, 2024, drawing with one winning ticket sold in New Jersey.
7. $1.05 billion – January 22, 2021, drawing with one winning ticket sold in Michigan.
8. $810 million – September 10, 2024, drawing with one winning ticket sold in Texas.
9. $656 million – March 30, 2012, drawing with three winning tickets sold in Illinois, Kansas, and Maryland.
10. $648 million – December 17, 2013, drawing with two winning tickets sold in California and Georgia.

As you can see from the list above, this is the second jackpot in 2024 to make the Top 10 list. We have only seen three jackpots won playing Mega Millions this year, and we are still searching for that fourth winner.

Current jackpot run

For this current jackpot run, it began on September 13, 2024. That means tonight's drawing will be the 31st drawing since the jackpot was last won.

That last jackpot winner came during the September 10, 2024, drawing. On that night, we saw one lucky ticket in Texas match all six of the winning numbers, to win the $810 million jackpot.

While we haven't had any jackpot winners during this current run, we have seen some players hit it big still. One player in Vermont added the Megaplier option to win $3 million during the December 15, 2024, drawing. Another player in Florida added the Megaplier option to win $5 million during the December 10 drawing. And in Louisiana, they have had three $1 million winners during this current jackpot run.

What happens if you win tonight's jackpot?

So, you bought your Mega Millions ticket for tonight's drawing, and you end up matching all of the winning numbers; what happens then? As the winner of the drawing, you will have the choice between a one-time cash payment or an annuity payout.

For the annuity option, you will receive an initial annual payment followed by 29 annual payments. Each payment is five percent larger than the previous payment. After federal taxes, each payment works out to be about $25.66 million.

For the lump sum option, you would receive a one-time payment of $549.7 million. After federal taxes, it would be $346.4 million. Both of these options would also be subject to state taxes, which vary depending on the state you live in.

Since the start of this draw game, this is the seventh time we have seen the jackpot go past $1 billion. The six jackpots that have been won to date have been won in different states. South Carolina won in 2018, Michigan won in 2021, Illinois won in 2022, Maine and Florida won in 2023, and New Jersey won in March 2024.

The Mega Millions drawing will take place at 11:00 p.m. ET tonight, so make sure to get your tickets before then. Enjoy playing the lottery, and please remember to play responsibly.