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UPDATE: Powerball jackpot now at $1.6 billion for Saturday’s drawing 

Jackpot reaches a record amount

Driven by nationwide excitement, the Powerball® jackpot soars to an estimated $1.6 billion for Saturday night’s drawing, making it the largest national lottery prize amount in history.

The cash value of a single ticket matching all five numbers and the Powerball is an estimated $782.4 million.

The last record held for the largest Powerball jackpot was hit for the Jan. 13, 2016, drawing in the amount of $1.586 billion.

Coverage of all possible combinations was estimated at 46.6 percent in the Wednesday, Nov. 2, drawing. Nationwide, 183 million Powerball tickets (individual Powerball plays) were sold for the Wednesday drawing.

Saturday’s drawing will be the 40th Powerball drawing since the jackpot was last won on Aug. 3 in Pennsylvania.