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Mega Millions Jackpot Update: What Tonight’s Big Prize Means (and How to Play Smart)
The Mega Millions jackpot is back in the spotlight, and the current top prize is about $395 million (estimated) with an estimated cash option around $183.3 million for the next drawing on Tuesday, February 17, 2026.
Mega Millions drawings happen every Tuesday and Friday at 11:00 p.m. Eastern Time, so when the jackpot rolls for a few drawings, it can climb fast—and that’s exactly when search interest explodes on Google.
How Mega Millions works (quick and clear)
To play, you pick five numbers (1–70) plus one Mega Ball (1–24). If your numbers match the drawing, you win prizes—starting from smaller wins up to the jackpot.
Since the 2025 update, tickets increased to $5 and now include a built-in multiplier (replacing the older Megaplier add-on). That means many non-jackpot prizes can be automatically multiplied, which is one reason the game is marketed as having “prizes multiply.”
Cash option vs. annuity (why the “cash” looks so different)
When you see a jackpot like $395 million, that’s typically the annuity value (paid over many years). The cash option is lower because it’s the estimated lump sum value today.
The odds (reality check)
Mega Millions is exciting—but it’s still a long shot. The jackpot odds are roughly 1 in 290 million under the newer format (improved from the older ~302 million figure).
Taxes: what winners should expect
In the U.S., lottery winnings are taxable income. Many winners will see 24% federal withholding right away, and depending on your total income, you may owe more when you file.
Also, prize-claim rules and deadlines vary by state—so always check your state lottery’s official page.
