Mega Millions is a US multi-jurisdictional $ (United States dollar)1 lottery game. Since May 2002, Mega Millions advertised jackpots have started at US$12 million paid over 26 yearly installments (unless the cash option is chosen), increasing when there is no jackpot winner. Reflecting common practice among American lotteries, the jackpot is advertised as a nominal value of annual installments. A lump sum (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) matrix to select its winning numbers. Each game costs players $1; in most Mega Millions jurisdictions, players may opt to pay an extra $1 per game to multiply their non-jackpot prizes by up to 4x with the Megaplier. Mega Millions is drawn at 11 PM Eastern time Tuesdays and Fridays, including holidays. The drawings are held in Atlanta, Georgia. Cutoff for ticket sales is 15 minutes before the scheduled drawing.

Mega Millions currently 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 winners chose the cash option.

The most recent ticket eligible for claiming a Mega Millions jackpot was sold for the May 4, 2010, drawing; it was purchased in Pico Rivera, California, a suburb of Los Angeles. The annuity value of the prize is approximately $266 million, before 25% federal withholding.