UPDATE 3-One winning ticket sold in U.S. lottery just shy of world record

(Adds jackpot just short of record)

Oct 24 (Reuters) - Only one ticket matched all six numbers in the U.S. Mega Millions lottery for a jackpot that was just short of a world record $1.6 billion, an official said early on Wednesday.

The ticket, sold in South Carolina, matched the five numbers 5, 28, 62, 65, 70 and the Mega Ball 5 that were drawn on Tuesday night, a Mega Millions spokeswoman said.

The buyer of the ticket beat the odds of 1 in 303 million to win the Mega Millions drawing for one of the largest jackpots in U.S. history.

Still, the jaw-dropping $1.537 billion jackpot failed to break the record for lottery winnings, held by the $1.586 billion Powerball prize shared by winners in January 2016.

Before the drawing, lottery officials had been reporting an expected record-breaking $1.6 billion jackpot, based on estimates tied to historical patterns, lottery spokeswoman Carole Bober Gentry said on Wednesday. After the drawing, lottery officials rolled back the jackpot total to $1.537 billion, based on actual ticket sales.

"There are few precedents for a jackpot this size. Typically, about 70 percent of sales occur on the drawing day, so forecasting precise numbers in advance can be difficult," Gentry said in a statement.

An immediate cash payment of $877.8 million, or the $1.537 billion prize paid out over 29 years, are options for those who win.

Mega Millions tickets are sold in 44 U.S. states, the District of Columbia and the Virgin Islands. Several states allow online ticket purchases, but they prohibit out-of-state and foreign purchases.

States receive a percentage of lottery ticket sales and then use the money to support public schools or meet other needs.

Wednesday's Powerball lottery prize stands at $620 million, making it the fifth-largest jackpot in U.S. history, after no one got all six numbers in Saturday's drawing. The lump sum cash payout is estimated at $354.3 million. (Reporting by Brendan O'Brien in Milwaukee; Additional reporting by Barbara Goldberg and Peter Szekely in New York Editing by Lisa Shumaker and Bernadette Baum)