Aug. 19 (UPI) -- The Powerball jackpot has reached $535 million ahead of the next lottery drawing on Saturday night.
The prize amount increased $25 million from Thursday night and will be at least the fifth largest in Powerball history and the eighth largest in U.S. lottery history if the total doesn't rise again before the drawing on Saturday night.
A Powerball jackpot hasn't been hit since June 10, when a $447.8 million jackpot was awarded to a single winner in California.
The new $535 million jackpot will offer a cash option of $338.8 million, due to strong ticket sales.
Lottery site USAMega.com calculates the 25 percent federal tax withholding on the lump sum payment would be about $84,700,000.
Powerball is played in 44 states, Washington, D.C., Puerto Rico and the U.S. Virgin Islands and hopeful winners can purchase tickets for the upcoming drawing until 9:59 p.m. Saturday.
The odds of winning the Powerball jackpot are 1 in 292,201,338.