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$540 million Mega Millions jackpot is third largest ever

by Chuck Baumann | Jul 08, 2016

July 8, 2016 - Salem, Ore. The $540 million Mega Millions jackpot for tonight’s drawing is the third largest Mega Millions jackpot of all time. If there is no Mega Millions jackpot winner tonight, the jackpot for next Tuesday’s drawing will grow to an estimated $630 million.

“This is the largest Mega Millions jackpot since Dec. 2013,” said Lottery spokesman Chuck Baumann. “The largest Mega Millions jackpot, $656 million, was won in 2012.

“Oregon Lottery players have won nearly $50 million in Mega Millions prizes since the game debuted in Oregon in March 2010. Oregon is anxiously awaiting our first Mega Millions jackpot winner. This jackpot would be a great one start with.”

The winner of the jackpot has two options to receive the jackpot prize. They can select the 30-year annuity option that will pay them $12.1 million a year, after taxes. The second, the lump sum option, gives the winner a one-time payment of $254.6 million, after taxes.

Mega Millions is currently played in 46 lottery jurisdictions – 44 states, including Oregon, and the District of Columbia and the U.S. Virgin Islands. Mega Millions drawings are every Tuesday and Friday night at 7:59 p.m. On days of drawings, players can buy tickets up until 7 p.m.

The Oregon Lottery reminds players to always sign the back of their Lottery tickets, regardless of the game. In the event of winning a jackpot, they should consult with a trusted financial planner or similar professional to develop a plan for their winnings. Prize winners of more than $50,000 should contact the Lottery office to schedule an appointment to claim their prize.

Since the Oregon Lottery began selling tickets on April 25, 1985, it has earned nearly $10 billion for economic development, public education, state parks and watershed enhancements. For more information on the Oregon Lottery visit www.oregonlottery.org

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