Politics & Government

$740M Jackpots a New U.S. Record

Strong sales prompted lottery officials to bump Saturday's Powerball jackpot from $475 million to $550 million. Friday's Mega Millions jackpot is worth an estimated $190 million.

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The combined Powerball and Mega Millions jackpots have reached $740 million, a new U.S. record.

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Strong sales prompted lottery officials to bump Saturday’s Powerball jackpot from $475 million to $550 million—the second largest in Powerball history and the third largest jackpot in U.S. history, Georgia Lottery spokeswoman Tandi Reddick said in news release this afternoon.

Friday’s Mega Millions jackpot is worth an estimated $190 million.

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The Powerball winner can opt to receive 30 graduated payments over 29 years or collect a $350 million cash payout. The Mega Millions winner can choose two payment options: about $7.3 million a year for 26 years with the annuity option or a single $140 million cash payout.

Powerball tickets are $2. Mega Millions tickets are $1.

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