The previous starting jackpot was $40 million, with a minimum $10 million rollover. The changes were needed due to the spread of coronavirus, as players remained at home and ticket sales declined. The minimum rollover increase was also removed. In spring 2020, Mega Millions officials removed the guaranteed minimum jackpot value. However, taxes in different areas affect the amount a winner will ultimately receive. If you match all six numbers drawn, the value of the top prize is the same no matter which jurisdiction you purchased your ticket in. The jackpot is the same amount in all 47 localities where Mega Millions is played - 45 states, the District of Columbia, and the U.S. With no cap on how high the jackpot can climb, Mega Millions has produced some famous wins, including $1.602 billion hit by a player in Florida in August 2023 after 31 rolls. There's a guaranteed $2 million roll increase per draw, although usually the amount is much higher.
The estimate takes into account how much money has already been accumulated since it was last won, and how much more is expected to be added for the next draw based on ticket sales. The advertised current jackpot amount is an estimated value prior to a draw. Check the Mega Millions Jackpot Analysis to find out how much you would end up taking home after tax, based on the state where you purchased your ticket. You can see the annuity value and the cash value of the grand prize.
