How hard is it to win the lottery? Odds to keep in mind as Powerball and Mega Millions jackpots soar

Your chances of winning the lottery are extremely slim — even as more and more eye top prizes soaring to jaw-dropping heights. Ahead of Wednesday night’s drawing, the estimated jackpot for Powerball reached $1 billion — marking the seventh largest prize across U.S. lottery history. And Mega Millions’ jackpot grew to an estimated $720 million after there was no winner Tuesday. The odds of winning a Powerball jackpot — no matter the size — stand near 1 in 292.2 million. Chances of taking home Mega Millions’ top prize are even lower, at about 1 in 302.6 million. Here are some things to know about the odds of winning the lottery.