SACRAMENTO (CBS) – As we head into a new year, some people are dreaming really big, like $425 million big. That’s the jackpot amount for the Mega Millions lottery drawing on New Year’s Day.

If one ticket hits the jackpot, it would be worth a one-time lump sum cash payout of $248.8 million.

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Tuesday’s drawing will be the fifth time Mega Millions has been drawn on the first day of a new year; the jackpot has been won once on the day – January 1, 2008.

It costs $2 to play the game, but the odds of winning the jackpot aren’t good. The chance of matching all six numbers and taking home the grand prize is one in 302.5 million.

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Mega Millions is played in 44 states as well as Washington, D.C., and the U.S. Virgin Islands.

This is the eighth largest Mega Millions jackpot in the game’s history.

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