Powerball jackpot rises to 'world record' $1.6B for Saturday

PHILADELPHIA (CBS) - The Powerball jackpot for Saturday night's drawing has jumped to $1.6 billion, the "largest in world lottery history."

The new estimated jackpot has surpassed the previous record set in 2016, a Powerball jackpot worth $1.586 billion that was won by three people.

The cash option on the prize is up to $782.4 million.

The largest jackpot won in the state was from a $758.7 million Powerball ticket sold in Chicopee in 2017. 

There have now been 39 drawings in a row without an overall winner. The odds of winning Powerball are 1 in 292.2 million.