2 Mega Millions tickets worth $650,000 sold in California; New jackpot bumped to $1.25B

New Mega Millions jackpot bumped up to $1.25B

Tuesday's drawing was for the winner of $1.1 billion, but because there were no winners announced Tuesday, the next drawing will offer the jackpot of $1.25 billion.

LOS ANGELES - Here we go again. It appears the race to be the next Mega Millions billionaire is still on after no winners were announced in the Aug. 1 drawing.

Tuesday's drawing was for the winner of $1.1 billion, but because there were no winners announced by lottery officials Tuesday, the next drawing will offer the jackpot of $1.25 billion.

With that being said, the upcoming Mega Millions drawing will be Friday, August 4 at 8 p.m. PT.

Below were the winning numbers for the top prize – which apparently no one got:

8, 24, 30, 45, 61 and the Mega Ball number being 12.

Bummed about having to go back to work next week? Don't throw away your tickets just yet. Lottery players with multiple matching numbers can score a decent consolation prize. For example, in Tuesday's drawing, two tickets worth more than $650,000 and 27 other tickets worth more than $7,000 were all sold in California.

HOW MUCH DO YOU WIN AFTER TAXES?

There are 1.25 billion reasons to dream, especially what you would do with the jackpot money. However, one thing all lottery winners have to take into account is the fact that their prizes will be taxed.

So how much do you really get after taxes?

It depends on a couple of factors: do you have to pay state taxes where you live? Will you take the lump sum payment or the annuity payout?

According to Mega Millions' website, those electing to take the annuity option get one immediate payment followed by 29 annual payments, a process that is identical to Powerball with their payouts.