(Reuters) – Who wants to be a billionaire?
FILE PHOTO: Customers line up to buy Mega Millions tickets at a newsstand in midtown Manhattan in New York, U.S., October 19, 2018. REUTERS/Mike Sugar/File Photo
For $2 a ticket, lottery players have a chance to be among the richest people in the world if they beat the long-shot odds of 1 in 303 million to win the Mega Millions jackpot of $1.6 billion Tuesday night.
The sum reached a world record for lottery jackpots after there were no winning numbers for the $1 billion prize on Friday.
About 280 million tickets were sold for Friday’s drawing, with about 60 percent of all winning number combinations covered, said Seth Elkin, a spokesman for the Maryland Lottery.
Tickets sold for Tuesday’s drawing are expected to cover 75 percent of all possible number combinations, he said.
However, the odds of getting killed by a shark are higher than winning the lottery, with the International Shark Attack File putting the chance at 1 in 3.7 million in a lifetime.
If a player hits all six numbers to win the jackpot, they can opt for an immediate cash payment of $904 million or receive the $1.6 billion prize over 29 years.
The instant cash payout in $100 bills would reach over 3,200 feet (975 meters), taller than any building in the world.
Wednesday’s Powerball lottery prize stands at $620 million, making it the fifth largest jackpot in U.S. history, after no one got all six numbers in Saturday’s drawing.
The lump sum cash payout is estimated at $354.3 million.
The current Mega Millions jackpot beats the previous record, a $1.586 billion jackpot for a Powerball drawing in 2016.
If there is more than one winner, the jackpot would be divided proportionately, as happened in 2012 with a Mega Millions jackpot of $656 million, a lottery official said.
Mega Millions tickets are sold in 44 U.S. states, the District of Columbia and the Virgin Islands. Several states allow online ticket purchases, but they prohibit out-of-state and foreign purchases.
Both lottery jackpots have been increased recently by rule changes that have reduced the odds of winning. The odds of winning Mega Millions were lowered a year ago from 1 in 259 million to generate larger prizes.
Reporting by Rich McKay; Additional reporting by Alex Dobuzinskis; Editing by Raissa Kasolowsky and Paul Simao