Powerball lottery reaches record $800m jackpot as sales soar

The jackpot has soared to increase as sales continue

It is the biggest jackpot lottery in US history

(AP)

Every day it inches higher. And so does the hysteria.

On Thursday, the jackpot for the US’s Powerball lottery reached $700m, breaking the previous high. On Friday, it was announced it had increased even more to $800m as sales soar in the days leading up to Saturday’s drawing.

The previous jackpot record was held by a 2012 MegaMillions game worth $656m.

It is the biggest jackpot lottery in US history

(AP)

Gary Grief, executive director of the Texas Lottery, says officials with the Multi-State Lottery Association - which runs the lottery that is operated across 44 US states - raised the pot because of strong sales.

Mr Grief told the Associated Press that sales on Thursday were double the previous record for that day. He said it was possible it could get higher again.

A winner would have the option of being paid $800m through annual payments over 29 years, or opting for $496m in cash.

The odds of winning are one in 292.2m, which compares to one in 960,000 for being hit by lightening.

But as lottery officials like to say, there is no you have no chance of winning if you do not have a ticket.