 LANSING, MI -- This Saturday's Powerball jackpot is now $800 million. The current jackpot reached $700 million Thursday after nobody won the jackpot on Wednesday night -- the 18th drawing without a winner. "We project the strong player interest in the record jackpot will push purchases well past the 6.3 million mark," Holyfield said.
– The jackpot for this Saturday's Powerball drawing is already the highest jackpot in US history, and it's likely it could soon become the country's first $1 billion jackpot. Michigan Live reports the jackpot is up to $800 million—an increase of $100 million in the past 24 hours. If the current pace of ticket sales continues, it should hit $1 billion by the drawing on Saturday night. The previous high jackpot was $656 million for a MegaMillions game back in 2012, according to CNN. There have now been 18 straight Powerball drawings without a winner, dating back to Nov. 7. So is it worth buying a ticket? "Playing the lottery is a bad idea, financially speaking," Time notes. But the value of a $2 Powerball ticket can actually increase if the jackpot gets large enough, which makes buying one slightly less of a bad idea, mathematically speaking. According to Time, in order for a Powerball ticket to be worth more than the $2 it costs, the jackpot would have to hit $1.2 billion, taking into account federal taxes and the possibility of multiple winners. With an $800 million jackpot, the expected value of a $2 Powerball ticket is currently a piddly $1.01. You should probably read the whole explainer to understand.