The Mega Millions jackpot increases to 9 million. When is the next drawing?

The Mega Millions jackpot increases to $489 million. When is the next drawing?

One lucky lottery player could celebrate the holiday season with cash if they win the huge Mega Millions jackpot.

The current Mega Millions pot is $489 million. The final jackpot drawing took place on Tuesday, but no one reached the numbers needed to take home the big prize.

According to Nexstar, the 10th largest Mega Millions jackpot was $552 million, putting the current prize about $63 million outside the top 10 largest jackpots.

Because lotteries are essentially voluntary taxes on players, the actual payout for winning the jackpot is not the actual take home payout. The IRS and the local governments where the winning ticket is sold receive a significant portion of the money.

With prize money of around $490 million, the actual payout would be between $256 and $309 million, according to USA Mega. By choosing the cash prize option, the winner would win between $134.2 and $144.5 million, depending on where the ticket was sold.

Just in time for Thanksgiving, the Mega Millions jackpot has reached $489 million (Getty Images)

Just in time for Thanksgiving, the Mega Millions jackpot has reached $489 million (Getty Images)

And that’s true when a winner takes everything. The money will be divided among several winners.

Winners may find their lives turned upside down, and not always in a positive way. Only a few states allow jackpot winners to protect their anonymity, while others must resist demands for money from friends, family and scammers.

Most players will never have to worry about this.

According to the Mega Millions website, a player has a 1 in 302,575,350 chance of hitting all five white balls and also landing a gold Mega Ball.

The next Mega Millions drawing will take place on Black Friday, November 29th at 11:00 p.m. EDT.

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