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Mega Millions Jackpot Reaches $489 Million Before Thanksgiving: When Is The Next Drawing?

(NEXSTAR) — Someone could start their Thanksgiving evening a few million dollars richer thanks to a huge Mega Millions jackpot up for grabs.

With no winner on Friday, the Mega Millions jackpot has grown to an estimated $489 million with a cash option of $229.3 million ahead of the next drawing. If you’re hoping to try your luck, you may only have a few hours to purchase a ticket before the drawing on Tuesday at 10 PM CT.

Mega Millions’ current top prize has grown since September, when a ticket sold in Texas netted an $800 million jackpot, the seventh-largest payout in gaming history.

At $489 million, Tuesday’s potential prize is about $63 million, which doesn’t rank among the top 10 biggest Mega Millions jackpots. To be among the largest in the game’s history, the jackpot must first not be won on Tuesday night and amount to an estimated $553 million. It would then surpass a $552 million jackpot won in Illinois in June.

  1. $1.602 billion: August 8, 2023; Florida
  2. $1.537 billion: October 23, 2018; South Carolina
  3. $1.348 billion: January 13, 2023; Maine
  4. $1.337 billion: July 29, 2022; Illinois
  5. $1.128 billion: March 26, 2024; New Jersey
  6. $1.050 billion: January 22, 2021; Michigan
  7. $800 million: September 10, 2024; Texas
  8. $656 million: March 30, 2012; Illinois, Kansas and Maryland
  9. $648 million: December 17, 2013; California and Georgia
  10. $552 million: June 4, 2024; Illinois

However, the jackpot payout will be lower than the advertised $489 million. Due to federal, state and local taxes, the total annuity price would be between $256 million and $309 million, according to USA Mega. The cash prize would range from $134.2 million to $144.5 million.

If you are lucky enough to hit the jackpot, even if you are not the only winner, experts recommend acting quickly and putting together a team that includes a lawyer, a tax advisor and a financial advisor. They also encourage you to protect your ticket and keep your win secret for as long as possible.

That may be easier in some states than others – only a select few allow the winners of a jackpot of this size to remain anonymous.

Mega Millions tickets cost $2 each and are sold in 45 states, the District of Columbia and the U.S. Virgin Islands. In addition to Tuesdays, drawings will also be held on Fridays at 10:00 PM CT. Players have a 1 in 24 chance of winning a Mega Millions prize.

The game of the National Lottery will undergo major changes in the spring of 2025.