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Powerball jackpot swells to $550 million

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Posted: Nov 28, 2012 11:21 AM
Updated: Nov 28, 2012 11:21 AM
Source: Associated Press

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Topics: powerball, jackpot, money, lottery, lotto

DES MOINES, Iowa - The record Powerball jackpot just keeps rising. It now stands at $550 million after officials say brisk sales keep driving up the payout amount.

The jackpot was boosted to $500 million on Tuesday and raised again Wednesday morning to $550 million.

A winner taking the cash option would get $360.2 million before taxes.

The numbers are an estimate and could be increased again as the drawing nears.

Powerball officials say they now believe there is a 75 percent chance that the winning combination of numbers will be drawn Wednesday night.

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