Powerball's estimated jackpot has reached $800 million for Saturday night's draw, encouraging more people to buy tickets that is expected to boost the jackpot to about $1 billion for the draw next week.

An Associated Press report said the record-breaking draw this weekend has got everyone excited, but it will get better if no one wins on Saturday.

"It will definitely go past $1 billion if we roll past this Saturday," said Texas Lottery executive director Gary Grief.

However, he claimed that they do not even know what to expect in the upcoming draws since this is the first time for them to experience having a jackpot price like this.

It was added in the AP report that the jackpot for the Powerball has grown from $40 million since November to $800 million this January.

As per USA Today, this amount is already the biggest ever in U.S. history since the last higher record was $656 million in 2012. The price was paid off to three winners from Kansas, Illinois and Maryland.

The Multi-State Lottery Association explained that the odds of having with you the winning lottery ticket is 1 in 292.2 million. It also claimed that 44 states can participate in the lottery, but those from Nevada, Utah, Mississippi, Alabama, Alaska and Hawaii cannot.

According to the Los Angeles Times, winning the jackpot could already be a life-changing experience for a lot of people. In exchange for paying a $2 lottery ticket, many can already fulfill their dreams of having mansions, fancy cars and even quitting jobs.

However, to be able to grab that price, a bettor should be able to get all five winning numbers (between 1-69) and another digit between 1-26 which is separately drawn.

The same report explained that if someone wins the $800-million jackpot, they are guaranteed to take home $496 million minus taxes.

USA Today explained that the taxes will depend on the residence of the winner. It added that they will already scrap 25 percent from the winnings prior to filing a tax return.

"You will be taxed at the highest rate. If you are lucky enough to live in a state without income taxes, there's nothing more to pay," the same report noted.

However, California State Lottery spokesperson Russ Lopez advised the public to play responsibly despite the very high jackpot prize.

"People get caught up in, 'Are you kidding me? It's that much? What's two bucks?'" he added.

The last draw prior to Saturday was on January 6, wherein nobody got the winning number combination: 2, 11, 47, 62, 63 and 17.