Powerball Prize Hits Record $100 Million

The prize has hit a record high.

One lucky Australian could be a multimillionaire overnight, with Thursday's Powerball set at a record breaking $100 million.

It's the largest division one prize in Powerball's 22-year-history.

If one person wins it, it will set an Australian record for the single biggest lottery win.

The single largest Powerball prize of $70 million went to a Hervey Bay couple in 2016.

Thursday night's draw closely follows Oz Lotto's $70 million top prize split between two winners from Victoria and NSW in what has been described as an unusually grand week for jackpots.

The $100 million Powerball draw will take place on Thursday August 16.