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Powerball $478 Million Jackpot Is Nation's 8th Largest

DES MOINES, Iowa (CBSNewYork/AP)-- Powerball players have a shot at the nation's eighth-largest lottery jackpot, but they should keep in mind that their dreams of riches likely won't become a reality.

The odds of a winning ticket in Saturday night's drawing for a $478 million prize are incredibly small: one in 292.2 million.

It's because of those odds that there hasn't been a winner since May 7, when a family from New Jersey won a $429.6 million jackpot. The nation's biggest prize was January's $1.6 billion Powerball jackpot.

The drawing will take place at 10:59 Eastern time, when tumblers filled with balls will select the five numbers and single Powerball. If there isn't a winner, the jackpot will increase and another drawing will be held Wednesday.

Kayla bought a $4 ticket for her friend, Perry, for her bachelorette weekend, WCBS 880's Mike Smeltz reported. It could turn into a nice wedding surprise. 

Perry's first thought on what she would do with the money?

"We actually had plans on our compound anyway, we were going to buy a big piece of land for both of our houses," the bride-to-be said.

Perry said she would certainly still marry her soon-to-be husband if she did win. In that case, she'd go on to adopt "all the babies" and "all the dogs" without a fight from her partner.

(TM and © Copyright 2016 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2016 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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