Mega Millions jackpot hits $350M

The jackpot for Tuesday night's Mega Millions drawing has been growing since late April and has hit the $350 million mark, the Massachusetts Lottery announced Tuesday. The Mega Millions jackpot was last hit on April 28 -- 28 drawings ago -- when a Southern California man won $61 million. The jackpot for Tuesday's drawing now stands at $350 million with an estimated cash option of $218.3 million, making it the seventh largest jackpot in the game's history.

To play Mega Millions, a bettor selects five numbers out of 75 and then a "Mega Ball" number up to 15. To win the top prize, a player must match all five numbers and the Mega Ball. The odds of winning the jackpot are 1 in 258,890,850, according to the Massachusetts Lottery, and the odds of winning back at least the $1 cost of the ticket are 1 in 14.71.

If Tuesday night's drawing is not the lucky one bettors can also play Powerball, which currently features a jackpot of an estimated $307 million -- cash option $193.2 million -- for Wednesday night's drawing. The odds of winning the Powerball jackpot are 1 in 292,201,338. Data scientists from Allstate Insurance, seeking to make the point that a person is far more likely to experience an event that would require insurance than win the lottery, pegged the odds of winning both the Mega Millions and Powerball jackpots this week at 1 in 75,648,252,765,957,300 -- more than 75 quadrillion.

Tickets for Tuesday's Mega Millions drawing can be purchased until 10:45 p.m. Tuesday at any Massachusetts Lottery retailer. The drawing is held at 11 p.m. in Atlanta. The dollar-a-ticket game is played in 44 states, Washington D.C. and the U.S. Virgin Islands. The largest Mega Millions jackpot was $656 million, hit on March 30, 2012.