Powerball Jackpot Hits Record Amount

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Credit ABCNews

Credit ABCNews

Update: The AP has confirmed the jackpot is now $800 million. Original story below.

Ever dream of becoming a billionaire overnight? Well, now’s your chance.

The current estimated Powerball jackpot is $700 million, with a good chance the final cume will climb closer to the billion dollar mark before Saturday night’s drawing. Even if it stays at the current number, this is the largest jackpot in U.S. history. The cash payout for the winner would be $428.4 million, before taxes.

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Credit Baltimore Sun

Credit Baltimore Sun

The lack of a winner on Wednesday night marked the 18th drawing in a row without someone picking the winning numbers. The current jackpot has been accumulating since November 7, 2015.

But don’t get your hopes up quite yet. The chances of winning the Powerball: 1 in 292.2 million. You have a better chance to get struck by lightning, but “Hey, you never know.”

The last large payout was in 2013 when an 84-year old Florida woman won $590.5 million.

With the jackpot so high, vendors all across the country can expect lottery sales to be up, which in turn could help push that jackpot up to $1 billion or beyond.

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