Mega Millions jackpot reaches $667 million

PHOENIX (KSAZ/AP) - Are you feeling lucky?

Lottery officials have raised the estimated jackpot for Tuesday night's drawing to $667 million, making it the third-largest grand prize in U.S. history. The increase from $654 million reflects a surge in ticket sales.

The $667 million jackpot refers to the annuity option, paid out over 29 years. The cash option, which is favored by nearly all winners, is $380 million.

Although the Mega Millions prize has grown larger, the odds of winning remain the same at one in 302.5 million.

Wednesday night's Powerball jackpot drawing is for an estimated $345 million.

The record lottery jackpot remains a $1.6 billion Powerball prize won in January 2016.

Players need to purchase their tickets by 6:59 p.m. tonight in order to be eligible for the record-breaking Mega Millions jackpot.

Meanwhile, some are already making plans, in case of winning the jackpot. Some say they will quit their day job, while others have other plans.

"Pay off all my debts, school and live by the beach," said one person.

"I have kids, so we would go on vacation," said another person. "College is really expensive."

Lottery officials say the winner should contact a financial planner and lawyer to come up with a plan.

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