MegaMillions tickets (Arkansas Scholarship Lottery)

Lottery officials on Monday raised the Mega Millions grand prize to $810 million, giving players a chance to win the nation’s third largest jackpot ever.

The next drawing is set for 10 p.m. Tuesday, July 26.

With no players matching all six lottery numbers in over three months, the jackpot has continued to grow from its starting point of $20 million on April 15.

Only two jackpots have been worth more money in the history of the Mega Millions game. The highest jackpot was $1.537 billion in October 2018, and the second highest was $1.05 billion in January 2021.

Mega Millions is played in 45 states plus Washington, D.C. and the U.S. Virgin Islands, and is overseen by state lottery officials. There are more than 1,900 lottery retailers across Arkansas.

Mega Millions tickets are $2 each with the option to purchase the Megaplier for an additional dollar, which will multiply any non-jackpot prizes won. Players can select their five numbers and the Megaball, or they can buy a Quick Pick for randomly generated numbers.

The odds of winning the MegaMillions jackpot are one in 302.5 million, according to the lottery website.

Winners have two options for payout of their prize. The annuity option is for the full jackpot prize, but is given in annual payments over a 30-year period. A second cash option reduces the prize amount, which for the current drawing would pay an estimated $470.1 million, according to USAMega.com. Prizes are also subject to a 37% federal tax rate, plus state taxes, which are 5.5% in Arkansas.