Mega Millions Jackpot Hits $1B

The Mega Millions jackpot has surged to an estimated $1 billion ahead of the Christmas Eve drawing. Nobody has won the jackpot since September and the prize is now the seventh-largest in the game's history, ABC News reports. If somebody beats the 1 in 302 million odds, they can choose 30 annual instalments or a lump-sum payment of around $449 million, which would be significantly reduced by taxes, Forbes notes. The drawing is at 11pm Eastern. The jackpot has been won on Christmas Eve before, but the person in New York who won $68 million in 2002 never claimed their prize. (The person in New Jersey who won a $1.12 billion jackpot didn't come forward until 9 months later.)