UNDATED (WJON News) -- It's official, the Powerball jackpot for Saturday night's drawing will be a record breaker.

Lottery officials Friday have increased the estimated jackpot to $1.6 billion, which surpasses the previous record of $1.586 billion which was won in January of 2016.

The Powerball jackpot that started rolling three months ago has become the world’s largest lotto prize ever offered.

If there is a winner and they take the cash option that amount is estimated at $782 million before taxes.

Minnesota State Lottery officials say our state has had three $1 million winners so far this year including two winning tickets in Duluth and one in Hinckley. We've also had two $150,000 winners, one $100,000 winner, and 37 tickets that each won $50,000.

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The overall odds of winning a prize are 1 in 24.9. The odds of winning the jackpot are 1 in 292.2 million.

Top 10 Powerball Jackpots

1. $1.6 Billion (est.) – Nov. 5, 2022

2. $1.586 Billion – Jan. 13, 2016 – CA, FL, TN

3. $768.4 Million – March 27, 2019 – WI

4. $758.7 Million – Aug. 23, 2017 – MA

5. $731.1 Million – Jan. 20, 2021 – MD

6. $699.8 Million – Oct. 4, 2021 – CA

7. $687.8 Million – Oct. 27, 2018 – IA, NY

8. $632.6 Million – Jan. 5, 2022 – CA, WI

9. $590.5 Million – May 18, 2013 – FL

10. $587.5 Million – Nov. 28, 2012 – AZ, MO

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