Updated: Powerball Jackpot Now $550 Million (Drawing is Tonight)

The Illinois Lottery's Powerball jackpot is set to reach $500 million, and the tickets are selling at a "blistering" pace, according to the Chicago Tribune. 

About $200,000 in lottery tickets were sold in just one 30-minute period Tuesday, according to the Trib, and sales are expected to peak as the Powerball drawing draws closer. 

It's the largest jackpot in Powerball history. The winners would take home $327.4 million in a lump sum. 

No one has won the Powerball drawing in two months, and the jackpot continued to rise after strong sales, according to the Trib. 

Powerball is a national lottery including 42 states. 

The odds of winning the jackpot are one in 175,000,000, according to KMOV in St. Louis. "Lottery officials estimate 105,000 tickets are being sold every minute nationwide," KMOV reported. 

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