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

The Mega Millions lottery in the US has reached an epic $1.6 billion after no one won the 41 billion prize on Friday night. [Photo: AFP/Getty Images]

The Mega Millions lottery jackpot has reached a record-breaking £1.26 billion ($1.6bn) after there was no winner of the £765 million ($1bn) prize.

The prize pot has reached new heights after no player got all of the numbers of 15, 23, 53, 65, 70 and the Mega Ball 7 during Friday night's draw.

The next Mega Millions draw will be held on Tuesday. 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.

Powerball, which held the record for the largest U.S. lottery prize of £1.213 billion ($1.586 bn) in 2016, will hold a separate draw on Saturday.

Its jackpot rose on Friday to £360 million ($470m) from £329 million ($430m), with a lump sum value of £205 million ($268.6m).

Mega Millions tickets are sold in 44 U.S. states, the District of Columbia and the Virgin Islands.

If more than one winner is picked, the jackpot would be divided proportionately, as happened when the previous Mega Millions record of £502 million ($656m) was drawn in March 2012 and was shared by winners in Kansas, Illinois and Maryland, a lottery official said.

The 24 semi-weekly Mega Millions draws have failed to produce a top winner since July 24, when an 11-member office pool in Santa Clara County, California, hit a £415million ($543m) jackpot.

The odds of winning the Mega Millions jackpot are one in 302,575,350, but the odds of winning any of the lesser prizes are one in 24.

While the epic prize is up for grabs in the US, Lottoland UK customers can bet on the outcome of the MegaMillions lottery and potentially win a separate jackpot.

UK players can win a separate prize by betting on the numbers. [Photo: AFP]

Lottoland recently paid out the biggest ever online gambling payout of £79million (€90m) and if a UK residents’ numbers were to come up on Tuesday this would shatter the current record.