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Powerball increases to $550M; Mega Millions jackpot jumps to $445M

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Feeling lucky in the new year? Lottery players still have two chances at winning giant jackpots this week. 

The Powerball and Mega Millions jackpots have both topped more than $400 million -- that's the second time in history that both jackpots were larger than $300 million, according to Mega Millions officials.

VOTE: What amount does a jackpot need to reach for you to buy a lottery ticket?

Powerball

The Powerball has now jumped to a $550 million jackpot after nobody won Wednesday’s drawing of $460 million. The next Powerball drawing will be Saturday.

Powerball hasn't had such a big prize since August, when a Massachusetts player won a $758.7 million jackpot.

The odds of winning the jackpot is incredibly small. Powerball has odds at one in 292.2 million.

Mega Millions

A jackpot for the Mega Millions lottery climbed to an estimated $445 million, after no tickets matched all six numbers during Tuesday’s grand prize drawing. 

The next drawing will be Friday night. 

The Mega Millions lottery is offered in 44 U.S. states, the Washington, D.C. and the U.S. Virgin Islands. Powerball tickets are sold in 44 states, and Washington, D.C., Puerto Rico and the U.S. Virgin Islands.