The biggest lottery prize in Australian history could soon be handed out with the clock counting down on Powerball’s looming $200 million draw.

The jackpot has jumped by $50 million from the previous week’s pool after no entries claimed the division-one prize in the past six draws.

It is a record Powerball jackpot, topping the previous biggest haul of $160 million on offer in a 2022 jackpot that was eventually shared between three people.

About one in every two Australian adults are expected to buy a ticket for the Thursday night draw, according to Powerball operator The Lott.

“We’re anticipating a rush online and in-store in the lead up to the record-breaking $200 million Powerball draw,” spokesman James Eddy said.

“Our advice to players is to get in early to avoid missing out on the chance to change your life.”

The crush to be in with a chance in the record jackpot is expected to generate thousands of tickets a minute. At the peak of sales for the previous $150 million draw, 7445 tickets were sold in a single minute.

But despite the allure of the mammoth prize pool on offer, the odds of actually winning remain extremely slim.

Melbourne University professor Peter Taylor said the odds of winning the top division were more than 134 million to one.

“You’re actually far more likely to die unexpectedly before the end of the day than you are to win the lottery,” he told the ABC.

Taylor said the chances of winning big were probably even lower than in a typical Powerball draw.

“What happens when a big jackpot happens is it attracts a lot more people to buy tickets, which increases the probability of you having to share the prize with a bunch of people,” he said.

Australians have until 7.30pm on Thursday (AEST) to buy tickets before winners are announced at 8.30pm.

The lottery company encourages ticketholders to register a playing card or online account so winners can be contacted immediately.

The 20 Powerball division-one winning entries in 2023 pocketed a combined $552 million in prize money.

– with AAP