UPDATE: Powerball Jackpot Hits $500 Million; Largest Since February 2015

Editor’s note: Since this article was originally published Tuesday morning, the jackpot has increased from $400 million to $450 million and then increased again to $500 million. The article below reflects the latest numbers.

The largest Powerball jackpot in nearly a year is up for grabs.

Wednesday’s drawing will be for an estimated $500 million jackpot; it’s the largest jackpot since a $564.1 million jackpot was hit on Feb. 11, 2015, according to a press release from the Massachusetts State Lottery.

The cash option payout for Wednesday’s drawing is estimated at $306 million.

While all these numbers sound high, you could actually hold out for a higher jackpot number. The record Powerball jackpot stands at $590.5 million, which was struck in May 2013.

According to Wikipedia, if it’s won, Wednesday’s jackpot would be the fourth highest Powerball jackpot struck.

Tickets for Wednesday’s drawing can be purchased until 9:45 p.m. Wednesday at any Massachusetts Lottery retailer. The drawing will be held at 10:59 p.m. Wednesday. If there isn’t a winner, the next drawing (with a higher jackpot, by the way) will be Saturday at 10:59 p.m.

In Chelmsford, lottery tickets can be purchased at:

• Chelmsford Gas & Market (81 Tyngsborough Road)
• Glenview Pub and Grill (248 Princeton St.)
• Hannaford (Drum Hill Road)
• Drum Hill Liquor Market (Drum Hill Road)
• Rosie’s Town Store (272 Old Westford Road)
• Cask and Bottle (313 Littleton Road)
• New World Gas (269-273 Littleton Road)
• Kate’s Corner (321 Acton Road)
• Wine Rack (210 Boston Road)
• Tedeschi (210 (Boston Road)
• Corner Cupboard (149 Gorham St.)
• Stop & Shop (299 Chelmsford St.)
• Market Basket (288 Chelmsford St.)
• Westland Wine (229 Chelmsford St.)
• Chelmsford Shell (189 Chelmsford St.)
• Chelmsford Mobile Mart (95 Chelmsford St.)
• Sunoco Food Mart (80 Chelmsford St.)
• Brickhouse Center Sports (1 Central Square)
• R and H Gas & Convenience (7 Acton Road)
• Harrington Wine (10 Summer St.)