"Delaware Ticket Wins $650 Million Mega Millions Jackpot: What's the After-Tax Prize?"

The Mega Millions jackpot has reached $650 million, making it the seventh-largest prize in its history, with the potential winner facing hefty taxes that would reduce the lump sum payout to around $194.4 million after federal taxes, and even less in states that tax lottery winnings. The next drawing is on Tuesday, and the Powerball jackpot is also substantial at $443 million for its next drawing on Saturday. The trend of massive jackpots in recent years is attributed to rule changes that increased the odds of larger jackpots accumulating for longer periods.