The US Powerball jackpot has hit $880 million -- here's how Australians can win the same prize

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The US Powerball jackpot has hit $US700 million ($AU880 million) — the second-largest jackpot in the history of US Powerball and the third largest US jackpot of all time.

The same huge cash prize can be won by an Australian punter thanks to Lottoland, which last year was awarded a five-year licence by the the Northern Territory Racing Commission to allow Australians to participate online in state and international lotteries.

The US Powerball jackpot started at $US40 million ($AU52 million) but has now rolled over 20 consecutive times to accumulate to $US700 million. And will keep doing so until it is won.

According to the Lottoland website, the odds for 2nd division are 1:11,688,052. Apparently, that’s better than the odds of winning the Oz Lotto (1 in 45 million) or Australian Powerball (1 in 76 million) jackpot.

Lottoland doesn’t actually let Australians enter, but it does allow them to bet on the outcome, with exactly the same prizemoney awarded as if you’d picked the winning numbers. The only difference is the total prize is reduced by 35% to make allowances for the tax winners in the US would have to pay.

The draws take place each on Thursday and Sunday 1pm AEST.

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