Alternatives to help your finances if you did not win the Powerball 1:24

(CNN) -- One lucky winner could clinch the massive $1.050 billion Mega Millions jackpot that will be drawn Tuesday night.

If won, the giant jackpot would be the fourth largest prize in the history of Mega Millions, the lottery said in a statement on Saturday.

The grand prize winner could choose to split it out in annual payments over 29 years, or opt for a one-time payment of about $527.9 million, according to Mega Millions.

The jackpot topped $1,000 after no ticket hit all six numbers drawn last Friday night. Tuesday's draw will be the thirtieth since the jackpot was last won in New York on April 18, according to Mega Millions.

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Although no one hit the jackpot last Friday, there were big winners. A ticket sold in Pennsylvania earned $5 million by matching the first five numbers and activating the optional Megaplier, available in most states with an extra $1 purchase.

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Four other tickets sold in Arizona, California, New York and Pennsylvania hit the top five numbers and earned $1 million.

The maximum Mega Millions jackpot to date was $1.537 billion won in South Carolina in 2018. It is followed by a $1.348 billion ticket that sold in Maine in January and a $1.337 billion prize last July.

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In fourth place on the Mega Millions list is a $1.050 billion prize won for a ticket sold in Michigan in 2021.

Tuesday's Mega Millions draw for the massive jackpot comes after a Powerball ticket sold at a Los Angeles store matched all the numbers to win a $1.080 billion prize, the third-largest Powerball jackpot.