Potential Record Mega Millions Drawing Tuesday as Jackpot Rises to $1.58 Billion

Tuesday night’s Mega Millions drawing will flirt with the game’s record jackpot of $1.537 billion.

The estimated jackpot sits at $1.58 billion, which would be a new record but lottery officials caution that they won’t know the actual jackpot amount for sure until it gets closer to the drawing.

The current Mega Millions record $1.537 billion jackpot was won in South Carolina on Oct. 23, 2018.

Tuesday’s cash payout will be an estimated $783.3 million before federal taxes. Some states also have their own taxes on jackpots.

There have been 31 drawings since the last jackpot was won in New York on April 18.

Players have won 62 second-tier prizes of $1 million or more since then.

When the current jackpot is finally won, it will be the fifth winning Mega Millions jackpot exceeding $1 billion.

The largest jackpot ever won in the United States was a $2.04 billion Powerball jackpot won last year.

While the excitement grows, the odds of winning remain extremely steep.

You're about 25 times more likely to become the next president of the United States than you are to win the lottery, according to University at Buffalo associate professor Jeffrey Miecznikowski.