UPDATE 1-U.S. lottery jackpots climb to combined $2.2 billion

Who wants to be a billionaire?

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 per cent 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 per cent 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 of 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.