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There are two Mega Millions Jackpot Prize Payment Options. You can receive your prize in 30 annual payments or you can receive the prize in a lump sum cash payment. The Mega Millions annuity is paid out as one immediate payment followed by 29 annual payments. Each payment is 5% bigger than the previous one.
Find out if you won $540 million from the Mega Millions jackpot tonight at 11 p.m. Eastern Time. Photo: Reuters. March 30 is the drawing for the largest jackpot in the history of the United States --$540 million. The payout has a cash option of $389 million. Odds of winning the Mega Millions jackpot are one in 176 million. Here is what time the Mega Millions jackpot drawing is, and what TV channel you can watch it on. The Mega Millions drawing is going to be held tonight at 11:00 p.m. Eastern Time, 10:00 p.m. Central Time and 8:00 p.m. Pacific Time.