Powerball Jackpot Raised To $550 Million

The advertised Powerball jackpot has been raised to $550 million for Saturday night's drawing, knocking on the door of the record $587 million jackpot posted last year.

The winner stands to accept a cash option of $350 million.

According to a statement issued by Powerball, the adjustment is an indication of Powerball fever sweeping the nation.

The jackpot could potentially be raised again Friday as excitement builds.

The odds of winning the jackpot are about one in 176 million.

Lottery officials urge people to please play responsibly.

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