UPDATE: Powerball Jackpot Hits $500 Million; Largest Since February 2015

Editor’s note: Since this article was first published Monday afternoon, the jackpot has increased from $400 million to $500. The article below has been updated.

By Brooklyn Lowery (Patch staff)

TEWKSBURY, MA - The largest Powerball jackpot in nearly a year is up for grabs.

Wednesday’s drawing will be for an estimated $500 million jackpot; it’s the largest jackpot since a $564.1 million jackpot was hit on Feb. 11, 2015, according to a press release from the Massachusetts State Lottery.

The cash option payout for Wednesday’s drawing is estimated at $306 million.

While all these numbers sound high, you could actually hold out for a higher jackpot number. The record Powerball jackpot stands at $590.5 million, which was struck in May 2013.

According to Wikipedia, if it’s won, Wednesday’s jackpot would be the sixth highest Powerball jackpot struck.

Tickets for Wednesday’s drawing can be purchased until 9:45 p.m. Wednesday at any Massachusetts Lottery retailer. The drawing will be held at 10:59 p.m. Wednesday. If there isn’t a winner, the next drawing (with a higher jackpot, by the way) will be Saturday at 10:59 p.m.

Here’s where you can buy your lottery tickets in Tewksbury >>>