Mega Millions Jackpot Soars to $750 Million: Payout Details Inside

WHO:

NY Post - No tickets matched all six numbers drawn in the Mega Millions lottery.

Forbes - The winner of the Mega Millions jackpot will be an unnamed individual or individuals.

WHAT:

NY Post - The Mega Millions jackpot has reached a historic high of $743 million.

Forbes - The jackpot hit $743 million after Tuesday's drawing.

Forbes - If a winner emerges, they can choose between $743 million over 30 annual installments or a lump sum payment of $323.4 million.

Forbes - If the cash payout is chosen, it will drop to around $245.8 million after a 24% federal withholding.

Forbes - After applying a federal marginal tax rate of up to 37%, the winner's payout could be around $203.7 million.

Forbes - Annual payouts from the installment option would be around $24.8 million, dropping to $15.6 million after the 37% federal tax rate.

Forbes - The odds of winning the Mega Millions are 1-in-290.4 million.

WHERE:

Forbes - Some states, such as New York, tax lottery winnings at 10.9%, while others like Texas, Florida, and California do not.

WHEN:

Forbes - The next Mega Millions jackpot draw will take place on Friday night.

Forbes - The next Powerball drawing will occur on Wednesday night.

WHY:

Forbes - The Mega Millions jackpot is on track to be the biggest lottery prize of the year so far.

HOW:

Forbes - The Mega Millions drawing involves selecting six numbers, which were 25, 37, 59, 68, 70, and gold Mega Ball 10.

(UPDATED July 22, 2026 15:32 UTC)

The Mega Millions jackpot has soared to a historic high of $743 million after Tuesday's drawing, with no tickets matching all six numbers drawn. If a winner emerges, they can choose between receiving the full amount in 30 annual installments or a lump sum payment of $323.4 million, which would be about $203.7 million after taxes. The next Mega Millions drawing is set for Friday night, and the odds of winning remain a staggering 1 in 290.4 million.