Mega Millions’ $470 Million Jackpot Is One of Its Largest Prizes Ever

October 9, 2018, 11:29 PM UTC

The Mega Millions jackpot grew to $470 million on Tuesday. That makes the jackpot, which often soars into the hundreds of millions, the sixth largest jackpot in Mega Millions history.

The Mega Millions jackpot comes with an immediate cash payment option of $265.3 million if the winner (or winners) opts for an initial payment—plus 29 annual payments doesn’t seem worth the additional gamble. Mega Millions tickets are sold in 44 states, Washington D.C. and the U.S. Virgin Islands.

With so much cash at stake, you may be asking: What time is the Mega Millions drawing? The drawing happens tonight, Tuesday, October 9, at 11 p.m. Eastern, 8 p.m. Pacific.

Mega Millions isn’t even the only huge lottery jackpot in play this week. The Powerball jackpot, which will be drawn on Wednesday, is up to $282 million.

While some critics say playing the lottery might not be worth it, there are certain winners who no doubt disagree. Just ask 11 co-workers in California, who following their July win, split their office pool Mega Millions winnings of $543 million.

Mega Millions jackpots get so large because the pot begins at $40 million and continues to roll over until a winner claims the prize. Odds of winning a Mega Millions jackpot are roughly 1 in 302,575,350.