You probably saw the news or heard it at the gas station. After nobody hit the big one on Friday night, the Mega Millions jackpot has officially jumped again.
Honestly, it feels like we’ve been here before, watching those numbers climb while we all secretly plan out our private island purchases.
But if you’re standing in line with a fiver in your hand, you need the actual numbers. No fluff.
Right now, the Mega Millions is at an estimated $250 million for the next drawing.
If you're the type who wants the money immediately—the "cash option"—you're looking at about $113.5 million. That's a massive difference, obviously, but still enough to never see an alarm clock again.
What is the Mega Millions at right now and when is the next draw?
The next chance to change your life is Tuesday, January 20, 2026.
The drawing happens at 11:00 p.m. ET. Most people don't realize that ticket sales actually cut off a bit earlier, usually between 10:00 p.m. and 10:45 p.m. ET depending on which state you're in.
Don't be that person who runs to the counter at 10:55 p.m. only to be told the machine is locked.
The Winning Numbers from Friday, January 16
If you haven't checked your old tickets yet, do it now. The Friday night drawing was a "rollover," meaning nobody matched all six numbers, but someone might have won a million-dollar consolation prize.
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The winning numbers were: 2, 22, 33, 42, 67 and the Mega Ball was 1.
The Megaplier was 1x.
Basically, it was a "double-decker" night for the number 2. Weird, right? Even though the jackpot didn't go, over 230,000 tickets in Maryland alone won something, even if it was just the $2 they spent on the ticket.
Why the "Advertised" Jackpot is Kinda a Lie
We see "$250 Million" on the billboards and our brains go wild. But you’ve gotta understand how the lottery actually works.
That big number is the annuity value.
If you win and choose the annuity, you don't get 250 million bucks on Wednesday morning. You get one immediate payment followed by 29 annual payments.
Here’s the kicker: those payments aren't equal. They increase by 5% every year.
The lottery officials do this to help you keep up with inflation. For a $250 million jackpot, your first check would be roughly **$3.75 million**. By the final year, that annual check would grow to over $15 million.
The Cash Option vs. The Dream
Most winners—actually, almost all of them—ignore the 30-year plan and take the Cash Option.
Right now, that cash value is $113.5 million.
Why is it so much lower? Because that's the actual cash the lottery has in the bank from ticket sales. The $250 million figure is just what they project that cash would grow to if they invested it in government bonds for 30 years.
Taxes: The Part Nobody Likes
You win $113.5 million. You're rich! Sorta.
The IRS is going to take a 24% federal withholding right off the top. That's about $27.2 million gone before you even touch it. And since the top tax bracket is 37%, you’ll likely owe another $14.7 million when you file your taxes the following year.
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Then there’s the state tax.
- If you live in California or Florida, congrats! They don't tax lottery winnings.
- If you’re in New York, you’re losing another 10.9% to the state (and potentially more if you live in NYC).
Common Misconceptions About the Jackpot
I hear this all the time: "The odds are better when the jackpot is small because fewer people play."
That's just not true.
The odds of hitting the Mega Millions jackpot are always 1 in 302.5 million.
It doesn't matter if ten people play or ten million. The balls in the machine don't know how many tickets were sold. The only thing that changes when more people play is the "split" risk. If the jackpot is huge and everyone is buying tickets, you're more likely to have to share that prize with someone else who picked the same numbers.
Is the Megaplier Worth It?
For an extra $1, you can add the Megaplier. It doesn't affect the jackpot, but it multiplies non-jackpot prizes by 2, 3, 4, or 5 times.
If you match five white balls (no Mega Ball), you normally win $1 million. With a 5x Megaplier, that becomes $5 million.
If you're already spending $5 on a ticket (the price increased recently in some jurisdictions), adding the multiplier is a personal call, but most "pros" (if you can call them that) say it's the only way to make the smaller prizes actually meaningful.
What You Should Do If You Have the Winning Ticket
Let's say Tuesday night rolls around and you realize you have the winning numbers.
- Sign the back of the ticket immediately. In many states, a lottery ticket is a "bearer instrument," meaning whoever holds it owns it. If you drop it and someone else finds it, it's theirs—unless your signature is on it.
- Shut up. Don't post it on Facebook. Don't call your cousin who always asks for money. Tell your spouse, maybe, and that’s it.
- Call a lawyer and a tax pro. You need a team before you walk into lottery headquarters. Some states allow you to remain anonymous by claiming the prize through a trust. Others, like Arizona or Georgia (depending on the amount), have specific privacy laws you'll want to take advantage of.
- Take the "Cash Option" vs "Annuity" debate seriously. While most take the cash, the annuity is "idiot-proof." You can't blow it all in year one. If you're worried about your own spending habits, the 30-year payout is a safety net.
The next drawing is Tuesday. The Mega Millions is at $250 million and climbing. Good luck—you're going to need it, considering you're more likely to be struck by lightning while being eaten by a shark than you are to hit these six numbers.
But hey, someone has to win eventually.
Your Next Steps:
Check your local state lottery app to see the exact ticket cutoff time for Tuesday. If you're playing in a pool with coworkers, make sure you have a written agreement or at least a photo of all the tickets sent to the group text before the drawing starts to avoid a legal nightmare later.