Powerball, Mega Millions jackpots up to $878 million

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CHICAGO, IL – AUGUST 07: A customer at a 7-Eleven store checks the numbers on his Powerball lottery ticket on August 7, 2013 in Chicago, Illinois. The Powerball jackpot for tonight’s drawing is $425 million, the third-highest total ever. (Photo by Scott Olson/Getty Images)

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NASHVILLE, Tenn. — An estimated total of $878 million is up for grabs this week in the popular games of Powerball and Mega Millions, the Tennessee Lottery says.

Thursday night’s Powerball jackpot was increased to $460 million and the Mega Millions jackpot stands at $418 million for Friday night.

The Powerball jackpot ranks as the seventh largest in the game’s history. The jackpot for Mega Millions is that game’s fourth largest.

If one ticket matches all six numbers for either jackpot, the winner will have the choice of receiving the full jackpot in 30 annual payments or a cash option. The Powerball cash option is approximately $291 million before taxes and $261 million before taxes for Mega Millions.

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