Mega Millions jackpot rises to $489 million. When is the next drawing?

A lucky one lottery player can celebrate the holiday season awash in cash if they win the massive Mega Millions jackpot.

The current one Mega Millions the pot is $489 million. The last draw for the jackpot was on Tuesday, but no one hit the numbers needed to take home the big prize.

The tenth-largest Mega Millions jackpot was $552 million, which puts the current prize about $63 million south of breaking into the top 10 pools, according to Nexstar.

Since lotteries are essentially voluntary taxes on players, the actual payout for winning the jackpot is not the real take-home pay. The IRS and local governments where the winning ticket is sold get a serious cut of the money.

With a premium of approximately $490 million, the actual payout would be somewhere between $256 million and $309 million, according to USA Mega. The cash prize selection would net the winner between $134.2 million and $144.5 million, depending on where the ticket was sold.

And that is if one winner takes it all. Money is divided among several winners.

Winners can see their lives turned upside down, and not always in a positive way. Only a few states allow jackpot winners to protect their anonymity so others can fend off money requests from friends, relatives and grifters.

Most players never have to worry about it.

According to Mega Millions websitehas a player a 1 in 302,575,350 chance of matching all five white balls plus landing a golden Mega Ball.

The next Mega Millions drawing will take place on Black Friday, November 29 at 11 p.m. EDT.