The Mega Millions jackpot has climbed to $74 million, and if you're hoping to convert yourself into a brand new millionaire just in time for the weekend, you might want to tune in at 11 p.m. Eastern Time -- that's when the multistate lottery's draw is set to take place at the studios of WSB-TV, Atlanta's ABC affiliate.

If you happen to score the big prize and want to take home every last penny, the total will be paid out in annual installments over a 29-year period. Otherwise, you have the option of an immediate lump sum payout of about $43 million.

The lottery's winning numbers from the last drawing on June 26 were 12, 23, 33, 47 and 50 with the Mega Ball number was 3 and the Megaplier number was 5, according to the game's official website. The estimated jackpot had been $64 million but no one matched the winning Mega Millions numbers.

The last time a participant took home the Mega Millions jackpot was on June 2, when the big prize had reached a sizable $260 million -- or $158 million in case of an immediate payout. The golden ticket winner purchased his ticket at a grocery store in the Chicago suburb of Blue Island, according to the Associated Press.

Ten days later, however, a Virginia man managed to become a millionaire by matching the first five numbers in the June 12 drawing. The new millionaire, Tom Cook, allowed the computer to randomly select the numbers on his ticket and has yet to decide what he will do with his new riches, LALate noted.

Mega Millions drawings take place every Tuesday and Friday, and the draw entry closes at 10:45 p.m. EST. Tickets to the game are sold in 43 states, the District of Columbia and the U.S. Virgin Islands -- a total of 45 jurisdictions. The odds of winning any prize are about 1 in 15, but your chances of hitting the jackpot are only about 1 in 259 million.

If you want to find out how close you are to a similar feat, you can watch a livestream of the Mega Millions drawings at 11 p.m. EST below.