Emilie Richardson/ABC News(NEW YORK) — More than $1 billion in combined potential prize money is up for grabs between the Mega Millions and Powerball lotteries.
The jackpot for the Mega Millions has reached a new record of $667 million, with an estimated cash value of $380 million after no one claimed the jackpot this Tuesday.
"The estimated annuity value of the jackpot in tonight’s Mega Millions drawing was raised today to $667 million, making it the largest in the game’s history and third-largest in U.S. lottery jackpot history," read the statement.
The new prize surpasses the previous Mega Millions record of $656 million that was shared by winners from Kansas, Illinois and Maryland in March 2012.
"It's always a thrill to have both jackpots rolling, but there's an extra spark now with Mega Millions reaching a new record," Gordon Medenica, Mega Millions lead director and Maryland's lottery and gaming director said in a statement on Tuesday. "Everyone is talking about the jackpot and running out to buy tickets for tonight's drawing."
If no one claims tonight's Mega Millions jackpot, the estimated prize for the next drawing on Oct. 19 is about $868 million, with an estimated cash value of $495 million.
The Mega Millions jackpot has skyrocketed since the July 24 drawing when a group of 11 coworkers in Santa Clara County, California, shared a $543 million prize, the fourth-largest prize in the game's history.
The jackpot for Wednesday's Powerball drawing is about $345 million.

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