Powerball Jackpot Hits Largest-Ever $1.6 Billion: Here’s How Much Would Go to Taxes

A customer at a 7-Eleven store checks the numbers on his Powerball lottery ticket on August 7, 2013 in Chicago, Illinois. Photo by Scott Olson/Getty Images

The “world’s largest lotto prize ever offered” is now at stake during this weekend’s Powerball drawing, said the game operator on Friday.

Powerball’s operators increased the jackpot estimate on Friday morning to $1.6 billion, which has a cash value of $782.4 million, according to a news release. The drawing is Saturday, Nov. 5, at 10:59 p.m. ET.