Update: Mega Millions jackpot now $540M; will you be first South Carolinian to win?

You’ve still got time to buy a lottery ticket before Friday's drawing for what is now the $540 million Mega Millions jackpot.

The drawing, scheduled for 11 p.m., is for the seventh-largest jackpot ever of any US multi-state lottery. There have been no Mega Millions jackpot winners since March 11, a span of 34 draws.

The odds of winning are about 1 in 259 million. Tickets must be purchased by 10 p.m. Friday.

South Carolina has never produced a Mega Millions jackpot winner. If the state sells the winning ticket, it will reap a 7 percent state tax off the jackpot. The federal government will keep 25 percent.

The winner has the option to take a $380 million cash payout or an annuity, which is paid out in one immediate payment followed by 29 annual payments. Each payment is 5 percent bigger than the previous one.

If there is no winner, the jackpot will roll over and ultimately could rival the record $656 million reached in December of 2012. There was no Powerball jackpot winner in Wednesday’s drawing, so that jackpot is now $288 million. The next drawing is 10:59 p.m. Saturday.

This story was originally published July 5, 2016 at 11:23 AM with the headline "Update: Mega Millions jackpot now $540M; will you be first South Carolinian to win?."