Mega Millions jackpot climbs to $1.58 billion, the 3rd largest in US history

Lottery players will have another shot Tuesday night at a massive Mega Millions prize that ranks as the third-largest jackpot in U.S. history.

The estimated $1.58 billion prize has been gradually building for months thanks to 31 straight drawings without a jackpot winner. The last time someone won the game’s top prize was April 18.

Each drawing without a winner pushes the prize closer to the record $2.04 billion Powerball jackpot that someone in California won last year. The second largest in size was in 2016, when the Powerball jackpot reached a nearly identical amount of $1.586 billion.

Mega Millions jackpot winners are so rare thanks to odds of one in 302.6 million.

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The $1.58 billion payout would go to a winner who opts for an annuity, doled out over 30 years. But people usually prefer a lump sum option, which for Tuesday's jackpot would be an estimated $783.3 million.

The money would be subject to federal taxes. Many states also tax lottery winnings.

Mega Millions is played in 45 states, Washington, D.C., and the U.S. Virgin Islands.