Powerball jackpot up to $550 million

PHOENIX (FOX 10) - The Powerball jackpot is now up to $550 million for Wednesday's drawing.

This jackpot is the eighth largest in Powerball history.

The one-time payout option would send the winner home with $335 million before taxes, but the odds of winning are one in 292 million.

You have until 6:59 p.m. to buy your ticket, and the numbers will be drawn at 7:59 p.m.