Well, it's official! The Mega Millions jackpot on Friday jumped to a record $1 billion. The drawing for the prize will be on Friday night. A single winner taking the cash lump sum would receive about $565.6 million. What are your odds of winning? Not great. Approximately 302,575,350 to 1. If Friday's jackpot is not hit, the next jackpot is estimated at $1.6 billion with an estimated cash value of $904.9 million.