On Tuesday night, lottery enthusiasts will once again have an opportunity to vie for an enormous Mega Millions reward, standing as the third-largest jackpot in the history of the United States.

The approximate prize of $1.55 billion has been progressively growing over several months due to 31 consecutive draws that have transpired without a jackpot victor. The most recent occasion when an individual clinched the highest prize in the game dates back to April 18.

With each draw that elapses without a winner, the prize inches closer to the unprecedented $2.04 billion Powerball jackpot that an individual in California secured last year.

The rarity of Mega Millions jackpot victors can be attributed to the daunting odds of 1 in 302.6 million.

The recipient of the $1.55 billion reward would have the option to receive it as an annuity distributed over 30 years. Nonetheless, most individuals typically prefer a lump sum alternative, which, in the case of Tuesday’s jackpot, is estimated to be around $757.2 million.

It’s important to note that the money would be subject to federal taxes, and numerous states also impose taxes on lottery winnings.

Mega Millions is accessible in 45 states, along with Washington, D.C., and the U.S. Virgin Islands.

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