By Selena Hill (staff@latinospost.com) | First Posted: Jul 09, 2013 06:01 PM EDT

Mega Millions ticket holders will find out if they won the lottery jackpot that currently stands at $12 million during the Tuesday, July 9 drawing.

The jackpot winner will have a choice on how they would like to be paid. They could choose the "Cash Option" and receive an one-time, lump-sum payment of $48 million or they can choose the "Annual Payout" option which provides annual payments over a 26-year period, according to the Mega Millions website.

The overall odds of winning any prize are about 1 in 40, but the odds of winning the jackpot are about 1 in 176 million.

Mega drawings take place every Tuesday and Friday after the draw entry closes at 7:45 p.m. PST. Tickets are sold in 42 states plus the District of Columbia and the U.S. Virgin Islands. The winning numbers are drawn at WSB-TV in Atlanta, Ga.

The Mega Millions winning numbers from the July 5 drawing were 2, 23, 41, 47, 54, and the Mega ball number was 42. The winning ticket for the jackpot of $79 million was sold in Michigan, while four ticket holders won the $250,000 prize amount and there were 34 Match 4 + 1 winners who walked away with $10,000. Each $10,000 lottery winner matched four out of five white Mega Millions winning numbers, and the gold Mega Ball number.

For a national, interactive map of where tickets may be purchased, head over to the Mega Millions Where to Play page.

You can also watch a live stream of the lottery drawings at 11:00 p.m. EST below:

Watch live streaming video from megamillions at livestream.com