Powerball reaches highest jackpot ever

This week's Lotto's powerball jackpot has hit $20 million - the highest amount in its seven year history.

The odds of winning powerball are 1 in almost 38.4 million.

An extra $1m is up for grabs in Lotto First Division.

NZ Lotteries chief executive Todd McLeay said the $21m prize was creating a buzz around the country.

He said the powerball prize was enough to buy 60 houses or could be put it in the bank and earn $30,000 a week.

The largest Lotto and Powerball prize won was $19,054,243, sold at Pak N Save New Plymouth to a family syndicate in April.

Around half a million extra tickets are sold for big draws.

The maximum jackpot allowed is $30m.

- NZPA