Mega Millions – Jackpot tops $1B; $3M ticket sold in Ohio

The jackpot for Friday's Mega Millions drawing is over $1 billion after no one won the top prize Tuesday night.

Friday night's drawing is listed at $1.02 billion, making it the third time in Mega Millions history that the jackpot has surpassed the $1 billion mark.

Tickets for Friday's Mega Millions drawing are available until 10:45 p.m. for the 11 p.m. drawing.

The most recent Mega Millions numbers from Tuesday's drawing were 07-29-60-63-66, with a Mega Ball of 15. The jackpot will be nation's fourth-largest lottery prize.

No ticket matched all six numbers. Even without a big winner, a ticket sold in Ohio walked away with $3 million Tuesday night.

The ticket matched the five white balls and included the optional Megaplier.

Eight other tickets also matched five of the six winning numbers, each is believed to be worth $1 million. They were sold in California, Florida, Illinois, New Jersey, New York and Ohio.

When are the Mega

Millions drawings?

Mega Millions drawings take place at 11 p.m. every Tuesday and Friday. Ticket sales end at 10:45 p.m. in Ohio. The next drawing is Friday, July 29.

How do I play the Mega Millions?

Tickets to Mega Millions cost $2 per play.

There are nine ways to win a prize, with wins ranging from $2 to the jackpot.

Pick five numbers from 1 to 70 and one Mega Ball number from 1 to 25.

Choose Auto Pick to have the terminal randomly pick numbers for you. You win the jackpot by matching all six winning numbers in the drawing.

What's the Megaplier?

Most states, including Ohio, offer the Megaplier feature, which increases non-jackpot prizes by two, three, four and five times.

It costs an additional $1 per play. Before each regular Mega Millions drawing, the Megaplier is drawn. From a pool of 15 balls, five are marked with "2X," three with "4X" and one with "5X."

Where to buy

Mega Millions tickets?

You can play Mega Millions in 47 localities: 45 states, plus the District of Columbia and the U.S. Virgin Islands. To find locations, search the Mega Millions website.

You can buy a Mega Millions ticket at gas stations, convenience stores and supermarkets until 10:45 p.m. on drawing night.

Ohio residents can use Lottery Card, which is available in Kroger, Buehler's Fresh Foods and Giant Eagle stores. It allows Ohio consumers to enter draw games on their phones and get notified and paid electronically if they win. You can also buy tickets online at www.OhioLottery.com.

What happens if I

win Mega Millions?

Mega Millions offers two options.

You can take the annuity option, paid out as one immediate payment followed by 29 annual payments. Each payment is 5% bigger than the previous.

There's also the cash option, a one-time, lump-sum payment equal to all the cash in the Mega Millions jackpot prize pool.

How much taxes would I pay ?

If you opt for lump-sum payments, the IRS automatically takes 25% as tax money. That means you'll pay Uncle Sam $451,875,000.

After that, how much you pay in taxes depends greatly on if the reward is paid as a lump sum or annuity.

There are benefits and downsides to both methods. The lump sum affords more control over winnings and investments, but higher taxes overall. The annuity payment option means less initial control but lower taxes because it allows people to take advantage of yearly tax deductions. This decision is why some winners seek out a financial advisor after hitting the jackpot.

The math doesn't end there. Lottery winnings are taxed the same as a wages or salary on both federal and state levels, so you'll pay more taxes come spring 2023.

Federal tax brackets still apply, so portions of the winnings will be taxed at different rates and could be as high as 37%. State and local tax rates vary by location, but Ohio's highest tax rate is about 4%.

After all taxes are paid, your winnings would whittle down to $427,775,000 if you opt for the lump sum payment, according to TaxAct's lottery tax calculator.

Beacon Journal reporter Tawney Beans contributed to this report.