Mega Millions jackpot grows to $820 million

The Mega Millions jackpot reached an estimated $820 million for its next drawing on Tuesday

following a $1 billion Powerball jackpot won earlier this week

though the winner would receive less than half that amount after paying required taxes

The winner—facing odds of one in 302.6 million—has the option to receive the $820 million in 30 annual installments over 29 years

The lump sum would be reduced to $320 million following a mandatory 24$ federal tax withholding

while a federal marginal tax rate as high as 37%—depending on the winner’s taxable income—could reduce the winnings to as low as $256.8 million

Eight tickets for Friday’s drawing won $1 million prizes, while 14 won $20,000 and 53 won $10,000.