Wednesday's (November 28, 2012) Powerball jackpot has now reached a record $500 million. 42 states, including Texas and New Mexico, plus Washington, D.C. participate in the multi-state Powerball lottery.

While the $500 million is a Powerball record jackpot, it's not the largest lottery jackpot in U.S. history. Earlier this year, the multi-state Mega Millions had a record $656 million jackpot.

According to the Texas Lottery website, the cut-off to purchase Powerball tickets will be at 9pm, Wednesday, before the drawing is conducted about an hour later.

The jackpot could be increased again due to high sales before Wednesday night's drawing. The last Powerball winner was on October 3 and the jackpot has rolled over 16 times.

Powerball tickets cost $2 each and we'll have Wednesday's Powerball numbers on after the drawing.