Mega Millions jackpot raised from $550 to $586 million - WAFF-TV: News, Weather and Sports for Huntsville, AL

As a result of brisk ticket sales, Georgia Lottery officials announced today that the Mega Millions estimated jackpot has been bumped from $550 million to $586 million for Tuesday's drawing. This is the second largest jackpot in the game's history.

The jackpot began rolling Oct. 4 and has rolled 21 times.

Mega Millions offers two jackpot payment options: the $586 million annuity prize paid out as one immediate payment followed by 29 annual graduated payments; or the cash option, which is approximately $316 million.

It only takes $1 to play Mega Millions for a chance to win big. Players can multiply prizes with the Megaplier option for an additional $1 per play.

As with all other Georgia Lottery games, proceeds from Mega Millions will benefit education in the state of Georgia.

Since its first year, the Georgia Lottery Corp. has returned more than $14.9 billion to the state of Georgia for education. All Georgia Lottery profits go to pay for specific educational programs, including Georgia's HOPE Scholarship Program and Georgia's Pre-K Program. More than 1.6 million students have received HOPE, and more than 1.3 million 4-year-olds have attended the statewide, voluntary prekindergarten program.

MEGA MILLIONS FAST FACTS

Draw Date: Tuesday, December 17, 2013

Estimated Jackpot Amount: $586 million

Annuity Amount: Jackpot prize paid out as one immediate payment followed by 29 annual graduated payments

Cash Option Amount: Approximately $316 million

Cost to Play: $1 per play; an additional $1 per play to add the Megaplier

Drawings: 11 p.m. (ET) every Tuesday and Friday

Overall Odds of Winning Any Prize: Approximately 1:14

Odds of Winning Jackpot Prize: Approximately 1:259 million

Date Jackpot Began Rolling: Oct. 4, 2013

Number of Rolls: 21

Last Winning Jackpot Ticket: Oct. 1, 2013 - $189 million (Maryland winner)

#1 Mega Millions Jackpot: March 30, 2012 - $656 million (Maryland, Illinois and Kansas winners)