▶️ Mega Millions jackpot increases to $1.1 billion; 3rd-largest US jackpot

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One of the nation’s biggest lottery prizes has grown a little bigger as the Mega Millions jackpot increased to an estimated $1.1 billion. The increase on Thursday ahead of the next drawing on Friday night makes the jackpot the third largest, behind $1.5 billion prizes won in 2018 and 2016.

If someone wins the jackpot — a number which is likely to increase — they could take lump sum payment of $648.2 million. Or they could take the money in annual payments over 30 years.

RELATED: Bend financial advisor says have a plan if you win Mega Millions

Nobody who has bought a ticket in Oregon has ever won the top prize.

One thing Oregon contestants should know is this: Staying anonymous if they win will be pretty much impossible. The names of the lottery winners, the money they made, and the city they bought the ticket in are all public records.

Bend financial advisor says you need to have a plan if you win the jackpot

Chris Chiampis, a financial advisor for Northwest Mutual in Bend says lottery winners should seek out a financial advisor, tax planner, public accountant and attorney.

Oregon is one of 45 states, plus the District of Columbia and the U.S. Virgin Islands, that participates in Mega Millions. Oregon also participates in Powerball.

The odds of winning the big prize is 1-in-302.2 million. For perspective, the odds of being struck by lighting once in your lifetime would be 1-in-15,000.

But, you’d have better luck winning Mega Millions or Powerball than filling out a perfect bracket in the NCAA Tournament. That’s 1-in-9.2 quadrillion.

Mega Millions all-time largest jackpots

  1. $1.537 billion: Oct. 23, 2018
  2. $1.1 billion: July 29, 2022 (TBD)
  3. $1.050 billion: Jan. 22, 2021
  4. $655 million: March 30, 2012 (three tickets sold)
  5. $648 million: Dec. 17, 2013 (two tickets sold
  6. $543 million: July 24, 2018
  7. $536 million: July 8, 2016
  8. $533 million: March 30, 2018
  9. $522 million: June 7, 2019
  10. $516 million: May 21, 2021

Powerball all-time largest jackpots

  1. $1.586 billion: Jan. 13, 2016 (three tickets sold)
  2. $768.4 million: March 27, 2019
  3. $758.7 million: Aug. 23, 2017
  4. $731.1 million: Jan. 20, 2021
  5. $699.8 million: Oct. 4, 2021
  6. $687.8 million: Oct. 27, 2018 (two tickets)
  7. $632.6 million: Jan. 5, 2022 (two tickets) 
  8. $590.5 million: May 18, 2013
  9. $587.5 million: Nov. 28, 2012 (two tickets) 
  10. $564.1 million: Feb. 11, 2015 (three tickets sold) 

The Associated Press contributed to this report.

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