$1.1 billion Mega Millions drawing nears, followed by $865 million Powerball prize

DES MOINES, Iowa (AP) — Another day, another giant lottery jackpot. Next up is an estimated $1.1 billion Mega Millions prize on Tuesday night. Miss out on that drawing? No problem. There will be a drawing Wednesday night for an estimated $865 million Powerball jackpot. The odds of winning the Mega Millions jackpot are 1 in 302.6 million, and for Powerball they are 1 in 292.2 million. The $1.1 billion Mega Millions prize is for a sole winner who chooses to be paid through an annuity over 30 years. A winner who opts for a cash payout would get $525.8 million.