UPDATE: Powerball HIts $900 Million

UPDATED, Jan. 9, 2016: Media outlets have begun reporting that the jackpot has reached $900 million.

The previous post is below.

CONCORD, NH - The New Hampshire Lottery has announced that the Powerball jackpot is expected to reach an all-time record high of $800 million for the drawing on Saturday, Jan. 9, 2016, the largest jackpot in U.S. Lottery history, according to a press statement.

The previous high was a $656 million Mega Millions jackpot in March 2012. The one-time cash payout is projected to increase to $496 million (estimated jackpot amounts are before taxes).

“It is extraordinary to think of this record-breaking $700 million Powerball jackpot,” said Charlie McIntyre, the executive director of the New Hampshire Lottery Commission. “Excitement among players and retailers is at an absolute fever pitch right now. With the Powerball jackpot at an all-time high, the time is now for a big New Hampshire winner. It just takes one ticket to win, but you need to play to win!”

Powerball has had 18 drawings since Nov. 4, 2015, with no jackpot winners. The Powerball jackpot has more than doubled since the jackpot stood at $300 million for the drawing on Dec. 28, 2015. Previously, the largest Powerball jackpot was $590 million, which was won in May 2013 in Florida.

Powerball tickets are on sale at more than 1,250 retailers in New Hampshire until 9:50 p.m. Saturday. Powerball tickets cost $2 per play. Drawings are held Wednesdays and Saturdays at 11 p.m.