Mega Millions

How Mega Millions Works

You pick five numbers from a pool of 1 to 70. Then you pick one Mega Ball number from a separate pool of 1 to 25. That single Mega Ball number acts as a bonus ball and appears on every ticket.

The lottery draws five white balls from the 70-ball drum, then one gold Mega Ball from the 25-ball drum. Your ticket wins a prize if your numbers match the drawn numbers in any combination. The Mega Ball match is independent: you can match all five white balls but miss the Mega Ball, or match fewer white balls but hit the Mega Ball.

The Megaplier option multiplies non-jackpot prizes by 2, 3, 4, or 5 times. It costs an extra dollar per play and does not apply to the jackpot.

Prize Tiers and Odds

Mega Millions has nine prize tiers. The jackpot (tier 1) requires all five white balls plus the Mega Ball. Tiers 2 through 9 pay fixed amounts or percentages of the prize pool depending on the jurisdiction and drawing.

The overall odds of winning any prize are 1 in 24. The odds of winning the jackpot are 1 in 302,575,350. Second-tier prizes (five white balls, no Mega Ball) have odds of 1 in 12,607,306. Third-tier prizes (four white balls plus Mega Ball) have odds of 1 in 931,001.

Prizes below the jackpot include four white balls without the Mega Ball (1 in 38,792), three white balls plus Mega Ball (1 in 14,547), three white balls without (1 in 479), two white balls plus Mega Ball (1 in 844), one white ball plus Mega Ball (1 in 141), and the Mega Ball alone (1 in 24).

Exact prize amounts for non-jackpot tiers vary by state and game sales. Your ticket's payout depends on the total pool allocation for that draw and your state's rules.

Expected Value and Probability Math

The expected value of a Mega Millions ticket is negative. Assuming a one-dollar ticket and the mathematical structure of the game, players return roughly 50 to 60 cents per dollar spent across all players and all draws. This figure varies by jackpot size and state tax rules.

A syndicate (pool of players sharing tickets) does not change the expected value. It reduces variance: instead of one ticket with a tiny jackpot chance, you own a fractional share of many tickets with many small wins and one massive jackpot split. The math favors syndicates for players seeking steadier returns and lower bankruptcy risk from a single huge win.

Jackpots grow larger across multiple draws without a winner. Larger jackpots increase the expected value of that specific draw but do not guarantee a positive return. At jackpot sizes above 500 million dollars, the EV approaches breakeven or turns positive under some models, though such draws are rare.

Tax Treatment in the United States

Mega Millions jackpots are subject to federal withholding of 24 percent at the time you claim the prize. Your actual federal tax liability is higher: the top marginal rate on lottery winnings reaches 37 percent. You owe the difference when you file your tax return.

Most states tax lottery winnings. Tax rates range from zero percent (Delaware, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington, Wyoming) to above 10 percent in some jurisdictions. New York state imposes 8.82 percent, plus New York City adds 3.876 percent if you claim in New York City.

Winners can choose a lump-sum payment or an annuity. The lump sum is typically 50 to 60 percent of the advertised jackpot. The annuity distributes the full jackpot amount over 30 years in 30 annual payments. Both options face federal and state taxes.

Consult a tax professional or CPA immediately if you win. Tax planning, entity selection (trust, LLC), and claiming strategy have major financial consequences.

Draw Schedule and Game History

Mega Millions draws occur on Tuesday and Friday at 11:00 PM Eastern Time. Tickets typically close at 10:45 PM ET on draw nights, though exact cutoff times vary by state and retailer.

The game launched on May 17, 2002, under the name The Big Game. It began in six states and has expanded to 45 states plus DC and the US Virgin Islands. The Multi-State Lottery Association (MUSL) operates the game and manages the prize pool, draw machines, and regulatory compliance.

The game's format changed in October 2017. Before that, players picked six numbers from two pools. The current five-from-70 plus one-from-25 structure replaced it to increase jackpots and top-tier odds. The Megaplier option was added in 2008.