Eye-watering $1 billion lotto prize hits Australia

It’s a cash prize that is unprecedented in Australian lottery history and more than five times the amount of the current record holder.

One lucky Australian could win an eye-watering $1 billion at an upcoming lottery draw this Saturday.

An Australian lottery ticket seller is offering the opportunity to enter into a US lottery draw called US Mega Millions with a $1 billion division one prize – a jackpot that dwarfs those traditionally seen in Australia.

Last month, a $200 million Powerball jackpot set an Australian record. But the current prize on offer is a staggering five times that amount.

The company’s chief executive, Jaclyn Wood said, “It would be a dream come true for a lucky Aussie, a truly life-changing stroke of luck.”

The $200 million lottery holds the current record for the largest prize in Australia’s lotto history. Picture: NCA NewsWire / Valeriu Campan

The biggest payout in US Mega Millions history was $2.4 billion in August last year.

This time around, the prize has built up to reach $1 billion as nobody has picked the right numbers since December 9.

There’s a massive prize pool on offer, and not just for division one winners.

Even division two prizes are also equal to some division one prizes in Australia.

In the most recent US Mega Millions lotto draw from last weekend, an unclaimed division two prize was for $1.5 million.

US Mega Millions is offering a $1 billion first prize. Picture: Angela Weiss/AFP

The Lottery Office, which is wholly Australian-owned, allows Aussies a shot at the massive US prize pool through its government-licensed USA Mega Lotto, which is matched to the US Mega Millions lottery.

“We’re Australia’s ticket to the world’s largest official lotteries,” Ms Wood explained.

“When Australians purchase tickets in our lotteries, we purchase a matching ticket in the relevant overseas draw.”

Of Aussies who have previously tried their luck with the USA Mega Lotto, West Australians have been the luckiest with the state recording the highest percentage of winning tickets purchases.

But NSW came out on top when it came to the total value of wins paid, the biggest single win and the total number of wins.

Queensland’s Surfers Paradise was the country’s luckiest suburb when it came to the USA Mega Lotto with more winners than any other.

Tickets for this weekend’s jackpot can be purchased until Saturday 12pm AEDT and the billion-dollar lottery will be drawn at 3pm.