Mega Millions is a US multi-jurisdictional $1 lottery game. Since it replaced The Big Game in May 2002 (see below), Mega Millions' advertised jackpots have started at $12 million, paid in 26 yearly installments (unless the cash option is chosen), increasing when there is no jackpot winner.[1] Reflecting common practice among American lotteries, the jackpot is advertised as a nominal value of annual installments. A cash value option, when chosen by a jackpot winner (see below), pays the approximate present value of the installments. Mega Millions currently uses a 5/56 (white balls) + 1/46 (the Mega Ball) double matrix to select its winning numbers. Each game costs players $1; in most of the 42 Mega Millions jurisdictions, players may opt to pay an extra $1 per game to multiply their non-jackpot prizes by 2x, 3x, or 4x with the Megaplier. (The Megaplier will be available to all Mega Millions players in January 2011.) Mega Millions is drawn at 11 PM Eastern time Tuesdays and Fridays, including holidays. The drawings usually are held in Atlanta, Georgia.[2]
Mega Millions holds the record for the largest US lottery jackpot, set on March 6, 2007, when two tickets, one each from Georgia and New Jersey, split a prize of $390 million (annuity). Both sets of winners chose the cash option.
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