$1.6 billion Mega Millions drawing to be held Tuesday night

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With a world record Mega Millions jackpot being drawn on Tuesday night, the Kentucky Lottery is celebrating by offering coupons for free tickets.

The record-breaking jackpot expected for the next Mega Millions drawing was at $1.6 billion by Monday afternoon.

Mega Millions jackpots keep growing bigger and bigger when no one wins the grand prize.

The odds of winning Mega Millions are about one in 302 million. But the sales are high, especially following a change Mega Millions made in October 2017. The largest jackpot in USA history will be drawn on Tuesday night. The National Weather Service says a person has about a 1 in a million chance of getting hit.

Each Powerball or Mega Millions ticket is $2.

"Every one of those dollars is very much appreciated", she said.

About half of Americans play the lottery today, compared to nearly 70 percent in the 1980s. In the past, there have been cases where the court ruled in favor of the one coworker who physically purchased the ticket, meaning all of the other coworkers were out of luck.

Texas has the nation's second-largest population, yet players have only bought winning Mega Millions tickets in the state twice in the past five years. So you're final check would be about $687 million. Now, each player now picks five numbers between 1 and 70 and then one number between 1 and 25.

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The ticket sold worth about $877.8 million in a lump-sum cash payment, which most winners choose to take, rather than collect the full amount in annual payments over three decades.

"That's all you got is hope!"

Don't count on making a deposit for anywhere close to $1.6 billion if you win the Tuesday night drawing.

The Mega Millions drawing will be Tuesday and the Powerball drawing will be on Wednesday.

Both lottery jackpots will approach new heights this week.

Based on the projected payout schedule for tomorrow's prize, that interest rate now sits around 3.45 percent, up from 2.84 percent when I examined the big Powerball prize for the New York Times almost three years ago. The largest single prize went to a 2017 player from MA who celebrated a $758.7 million Powerball payday.

Mega Millions tickets can be purchased in 44 states, Washington D.C. and the U.S. Virgin Islands for $2.

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