Skip to content
Wealth
Living

Why Winning the $1.1 Billion Lottery Won’t Make You an Overnight Billionaire

Like any financial windfall, the jumbo Mega Millions prize will be subject to taxes. 

A woman fills out a Mega Millions lottery ticket. 

A woman fills out a Mega Millions lottery ticket. 

Photographer: Angela Weiss/AFP/Getty Images

Friday night’s drawing for the Mega Millions jackpot has swelled to an astounding $1.1 billion, which would be the second highest prize in the lottery’s history, bested only by a winning ticket for $1.54 billion in 2018.

The lucky jackpot winner will have to correctly pick six numbers — five white balls from 1 to 70 and the yellow “mega ball” from 1 to 25. While the rules of play are easy enough, the chances of taking home the top prize are not: the odds of winning are 1 in 303 million. You’re more likely to be eaten by a shark, according to sports-betting site Bookies.com.