Mega Millions jackpot grows to $1.6 billion, largest in lottery history

People are lining to buy lottery tickets, hoping to get rich quick

JACKSONVILLE, Fla. – Since no one won Friday night's Mega millions drawing, the jackpot has grown to $ 1.6 billion, the largest prize in U.S. lottery history.  The Powerball jackpot has also climbed to $470 million and people are lining up to buy tickets they hope will make them winners.

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Let's talk chances.

Your chance of winning the Mega Millions jackpot is one in 302 million. For Powerball, it's one in 292 million 
The chance of winning both is at least one in 88 quadrillion.

The next drawings are at 11 p.m Saturday for the Powerball and Tuesday night for Mega Millions.

Do you have a ticket yet? If the amount of money up for grabs tells you anything, a lot of people are buying tickets and dreaming of getting rich. 

Even a financial adviser is playing the Mega Millions, but is playing the lottery financially responsible? 

"As long as it's your discretionary money, it's fine but if you need that $20 for food, that is reckless," Drew Thompson said.

And if he won?

"I would probably text my boss and say, 'Hey, I quit. This is my two weeks’ notice,'  buy a few vacation homes, travel, give a lot to charities and different organizations. So I think a lot of good but a lot of fun too," Thompson said.

Pedro Thomas is buying Mega Millions tickets, hoping to hit it big.

"It doesn't hurt to spend $2 or $4. It's not a big deal, and if you get it you can help a lot of people, and your family," Thomas said. "I would take the lump sum because I don't know what's going to happen to me. I would rather have the money in my pocket."

For Mega Millions, the lump sum cash option is $904 million. 
For Powerball, its $268.6 million.