As of the NHC's latest update, issued early Thursday morning, the agency said there was now a 50 percent chance of cyclone formation over the next seven days, and a low, 10 percent chance of formation in the next 48 hours.

ORLANDO, Fla. – The National Hurricane Center increased chances for tropical development around Florida. There is now a medium, 40% chance, for tropical development on either side of Florida over the next seven days. It is important to note that even if this does become a named storm, significant development is not expected.

Florida is in for a wet weekend as the chances that a tropical system will develop continue to climb. The National Hurricane Center raised the likelihood of development for a potential system near the northeast coast of Florida to 60% in the next seven days - up from 40% the day before - and for the first time gave the system a 20% chance of strengthening in the next day or two.