Nearly $750 million up for grabs in Mega Millions, Powerball

Both the Mega Millions and Powerball jackpots have reached more than $350 million (MGN Online)

DES MOINES, Iowa (AP) — For the second time, U.S. lottery players will have a choice of games offering jackpots topping $300 million.

In the seven years since all U.S. lotteries began selling both Powerball and Mega Millions tickets, both games have never offered prizes so large at the same time.

The jackpot for Friday night's Mega Millions drawing is an estimated $393 million, and the top prize for Saturday night's Powerball drawing is $356 million. Those prizes are based on annuity options, paid over 29 years. Cash prizes would be an estimated $246 million for Mega Millions and $224 million for Powerball.

Of course, even with more options for giant payouts, the odds of winning a jackpot remain abysmal at one in 258.9 million for Mega Millions and one in 292.2 million for Powerball.