Mega Millions jackpot at $1.6 billion, sets world record and Powerball hits $620 million

Lottery players are vying for record-breaking jackpots this week, when even the lowest jackpot payout would top $354 million. 

Mega Millions has the biggest jackpot so far at $1.6 billion, which is a worldwide record. The drawing at 11 p.m. Tuesday could make a winner, or winners, rich with a cash payout of $904 million. 

The Powerball jackpot is up to $620 million, with a cash payout of $354 million. The drawing will be held at 11 p.m. Wednesday. 

Why are Mega Millions and Powerball jackpots so high? 

Nobody has hit Mega Millions or Powerball jackpots since summer, and the jackpots have continued to grow. 

There have been 25 Mega Millions drawings without a winner since a dozen coworkers won $543 million on July 24 in California.

There have been 20 Powerball drawings without a winner since a man won $246 million on Aug. 11 in New York.  

What are the odds of winning Mega Millions and Powerball?

Your odds of winning Mega Millions are 1 in 302 million. 

Your odds of winning Powerball are 1 in 292 million. 

Statistically speaking, you are more likely to get accepted into Harvard University, get attacked by a shark and killed by a vending machine than winning the lottery. 

How much does it cost to play Mega Millions and Powerball?

Mega Millions tickets cost $2 per play.

Powerball tickets cost $2 per play. 

More:New to lottery? Here's how to play Mega Millions and Powerball in your quest for money

More:Powerball for Oct. 20: No one took the jackpot, but there were $2M, $1M winners

How to play Mega Millions

Players may pick six numbers from two separate pools of numbers - five different numbers from 1 to 70 and one number from 1 to 25 - or select Easy Pick/Quick Pick.

There are nine ways to win a prize in Mega Millions, ranging from the jackpot down to $2.

You win the jackpot by matching all six winning numbers in a drawing.

How to play Powerball

Select five numbers from 1 to 69 for the white balls; then select one number from 1 to 26 for the red Powerball. 

You can pick your numbers or let the lottery terminal randomly pick your numbers. 

There are nine ways to win a prize, ranging from the jackpot down to $2.

When is the Mega Millions drawing?

The Mega Millions drawing is 11 p.m. Tuesday.

When is the Powerball drawing?

The Powerball drawing is 11 p.m. Wednesday.

More:Taunt your ex? Build a golf course? What would you do with $1.6 B Mega Millions prize?

More:Can I buy a Mega Millions or Powerball ticket in my state?

How late can you buy a Mega Millions ticket in Pennsylvania? 

The cutoff time to buy a Mega Millions ticket is 10:45 p.m., just 15 minutes before the 11 p.m. drawing. 

How late can you buy a Powerball ticket in Pennsylvania?

The cutoff time to buy a Powerball ticket is 9:59 p.m., about an hour before the 11 p.m. drawing.