Mega Millions lottery jackpot reaches record-breaking $1.6 billion prize

A sign advertising tickets for the $1-billion Mega Millions lottery drawing is seen in Brooklyn New York U.S

Mega Millions lottery jackpot reaches record-breaking $1.6 billion prize

As for the main jackpot, it is now up to $1.6 billion.

The all-time largest lottery win was on January 13, 2016, when three tickets shared $1.586 billion in a Powerball drawing, CNBC reported.

The victor might opt for the cash prize of more than $270 million, from which the federal government will take 25% right away, and more later. The estimated jackpot for that drawing would tie the largest lottery prize in US history.

"It's hard to overstate how exciting this is ... but now it's really getting fun", said Gordon Medenica, the head director of the Mega Millions Group and director of Maryland Lottery and Gaming, CNN reported.

There was no victor in Saturday night's Powerball $430 million drawing, just as there was no victor in Friday night's Mega Millions drawing.

Two lottery jackpots continue to grow after no winners were selected in this weekend's drawings.

The winning numbers are 16, 54, 57,62 and 69. That jackpot was won in January 2016.

Then on Saturday, no winners were selected in the Powerball drawing.

The lucky player matched all five white numbers drawn but was just one number shy of the jackpot.

It costs $2 to play the game, but the odds of winning the grand prize is one in 302.5 million.

The Mega Millions is coordinated by the Multi-State Lottery Association, along with several other lottery games including one called Powerball. If a player hits all six numbers to win the jackpot, they can opt for an immediate cash payment of £692 million ($90m) or receive the £1.26 billion ($1.6bn) prize over 29 years.

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