The life-sized Lotto Max balls spread the word about the record-breaking Lotto Max $60 million jackpot plus 53 Max Millions up for grabs on Oct. 19, 2018. (CNW Group/OLG)

Record-breaking $113 million Lotto Max jackpot up for grabs

This is Canada’s highest top prize offering ever and includes 53 Max Millions

There’s a lot of money up for grabs tonight during Friday’s Lotto Max jackpot draw.

In fact, it’s a record-breaking amount of an estimated $113 million – the main prize of $60 million plus an additional 53 separate Max Millions prizes worth $1 million each.

Tonight’s Canadian jackpot draw coincides with two U.S. lottery draws also taking place this weekend with combined winnings of more than $1 billion – one of the largest lottery prizes ever to be given away in the United States.

Lottery officials increased the grand prize just hours ahead of the Friday night drawing. The prize climbed from $970 million.

RELATED: Vancouver Island tickets win big in last week’s Lotto Max draw

Although the jackpot keeps increasing , the odds of winning remain stuck at a miserable one in 302.5 million.

The prize has grown so large because no one has hit the jackpot since July 24, when a group in California won $543 million.

The $1 billion prize refers to the annuity option. Most winners opt for cash, which for Friday night’s drawing would be $565 million.

Officials say that if there isn’t a winner, the prize for Tuesday night’s drawing would be $1.6 billion, tying the largest U.S. lottery prize.

In Canada, the odds of winning LOTTO MAX are 1 in 28 million. While this chance may seem slim, it’s better than our neighbours south of the border that have a 1 in 258 million chance of winning.

Last week three residents of B.C. won Max Million prizes, with all three tickets being purchased on Vancouver Island.

– With files from the Canadian Press

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