Mega Millions Nears $750 Million—Here’s What The Winner Could Take Home - Forbes

What the report says

Forbes reports that the Mega Millions jackpot has climbed to an estimated $743 million after Tuesday night’s drawing produced no ticket matching all six winning numbers. The numbers drawn were 25, 37, 59, 68 and 70, with the gold Mega Ball 10. The next Mega Millions drawing is scheduled for Friday night.

According to Forbes, the advertised jackpot would not translate into a $743 million take-home amount. A winner could choose either 30 annual payments totaling the full advertised prize or a one-time cash option of $323.4 million. Forbes estimates the lump sum would fall to about $245.8 million after the required 24% federal withholding, and potentially to roughly $203.7 million if the top 37% federal marginal tax rate applies. Annual installments of about $24.8 million could be reduced to around $15.6 million under that same federal rate.

State taxes could further change the final payout. Forbes notes that some states tax lottery prizes, including New York at 10.9%, while others such as Texas, Florida and California do not tax lottery winnings. The report also highlights the long odds: a Mega Millions ticket has about a 1-in-290.4 million chance of winning the jackpot.

The jackpot is described by Forbes as the largest lottery prize of 2026 so far, surpassing the $533 million Mega Millions prize won by an Illinois player in March. Forbes also reported that Powerball’s jackpot has reached $567 million, with its next drawing set for Wednesday night.