Mega Millions jackpot nears $1 billion ahead of Friday drawing

The cash value plus the interest is what creates the prize.

Here are some answers for someone holding that prized lottery ticket for what would be the second-largest lottery jackpot in US history.

Friday morning, the jackpot rose to $1 billion, with an estimated cash payout of more than $565 million.

Mega Millions has existed in some form since 1996.

"I can't recall quite a similar situation in recent years", PA Lottery spokesperson Jeffrey Johnson told KDKA money editor Jon Delano on Thursday.

Since 2012, 10 of the biggest lottery jackpots in US history have exceeded $500 million. If the jackpot holds at $975 million, it would be $513 million.

Young said she had played the lottery before, but "only when it's huge", she said.

The former record holder for Mega Millions was a $656 million prize in 2012.

The jackpot has been growing since July, when some California office workers won $543 million. The jackpot reset at $40 million for the next drawing and has been soaring ever since.

The current jackpot is the largest Mega Millions jackpot in the lottery's history at $970 million.

The jackpot goes to a victor who matches the five numbers and the Powerball number. Powerball odds are just slightly better at 1 in 292.2 million. The odds of winning the jackpot are now 1 in 302,575,350. In Arizona, people who win more than $600 can keep their names secret for 90 days after claiming prizes, but after that names are public record. Tuesday's winning numbers were 3, 45, 49, 61, 69, and 9.

Powerball made similar changes to its rules in 2015.

But no one picked the six winning Mega Millions numbers correctly, so the jackpot rolled over and soared even higher.

State lottery commissions have relied on human psychology and the spirit of optimism to fuel sales.

He calls these gamblers "infrequent players", and their participation helps boost jackpots to historic levels, he said.

This jackpot also stole the #2 spot as the second largest jackpot in United States history, but it's still a long way from stealing the #1 spot.

Tonight's will take place on Friday at 11pm, eastern daylight time. The estimated jackpot may be revised to account for higher ticket sales if officials see an uptick in activity before the next drawing, he said.

At the Smithfield News in Downtown Pittsburgh, there was a steady stream of lottery ticket buyers.

KDKA money editor Jon Delano admits he nearly never buys lottery tickets.