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Feeling lucky? New Year's Day Powerball jackpot now $500 million

Winner could take home a one-time cash payment of $355 million

COLUMBIA, S.C. — If you're hoping to start your New Year flush with cash, you could purchase a Powerball ticket for Saturday night.

The January 1 Powerball jackpot has been raised to $500 million -- an increase of $17 million since Wednesday.

South Carolina Education Lottery representatives say if won, the New Year's Day jackpot winner could choose to take a one-time cash payment of $355 million or the entire jackpot paid out in 30 installments over 29 years.

You'll be able to watch the drawing live on WLTX at 10:59 on Saturday 

The Odds of winning the Powerball® jackpot are about 1 in 293 million. Powerball tickets can be purchased at most convenience stores and grocery stores in our state.

On Christmas Day, a $1 million Powerball ticket was sold in Summerville, South Carolina.

Catch up with all lottery results at wltx.com/lottery.