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

Loading Video…

This browser does not support the Video element.

What are the odds you win the lottery?

What are the odds you win the lottery? You're more likely to be struck by lightning.

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.

RELATED: Mega Millions record $1.5 billion jackpot producing millionaires with smaller prizes

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.