Powerball jackpot quickly jumps to $550 million - DC News FOX 5 DC WTTG

Powerball jackpot quickly jumps to $550 million

Posted: Updated:
DES MOINES, Iowa -

The Powerball jackpot jumped to $550 million on Thursday -- the third largest lottery in history -- as dreamers in all but the seven states where the game isn't played snatched up tickets for the minuscule chance at a life on easy street.

Thursday's announcement by the Iowa-based Multi-State Lottery Association means ticket sales have soared since Wednesday night's drawing for an estimated $360 million jackpot, in which no one picked all six numbers correctly.

What's the first thing you would do with the money if you won?  COMMENT ON OUR FACEBOOK.

Sales jumped by $260 million in the days before November's biggest Powerball jackpot win in history -- a prize of $587.5 million. And Iowa Lottery spokeswoman Mary Neubauer said it's possible that Saturday's could end up eclipsing that amount.

A $550 million jackpot would be the second largest in Powerball history and the third largest for any lottery.

Lottery officials expect jackpot totals of this size to continue to climb in shorter amounts of time, thanks in part to a game redesign in January 2012 that increased the odds of winning some kind of prize, but also lowered the possible number combinations to win the Powerball.

There's also "cross-selling" of Powerball and Mega Millions tickets -- states being able to sell both Powerball tickets and Mega Millions tickets -- that began in January 2010. As a result, large jackpots will continue to surpass all-time jackpot records set years ago, said Neubauer.

"It usually took a handful of months, if not several months, for a jackpot to reach this large amount," she said. "Now it's achieving that within a handful of weeks. I think the redesign is achieving exactly what we had wanted it to achieve, which is the bigger, faster-growing jackpot."

The redesign means players don't necessarily have to strike big to get lucky. A $1 increase and new $1 million and $2 million prizes means the odds of winning something have increased. On Wednesday, $1 million prizes were won in 16 states, and $2 million prizes were won in two states.

In fact, more than half of the all-time jackpot records have been reached in the last three years. The top two all-time jackpots -- $656 million from a Mega Millions jackpot and $587.5 million from a Powerball jackpot -- were achieved in 2012.

The last major jackpot win came when a New Jersey man won a $338.3 million jackpot on March 23. It is now considered the fourth largest Powerball jackpot in history.

Players aren't complaining about the large sums. Rachel Rand said she just couldn't help herself and bought several Powerball tickets.

"How can you not play $2?" said the 32-year-old insurance adjustor. "A $10 investment if you win is pretty good."

Insurance agent Joe Williams, of Middleton, Wis., doesn't necessarily spend more when the prize is high. But his $4 investment in the quick-pick option means he does spend.

"I know rationally it makes no sense," he said. "But at the same time, without a ticket, I have zero chance."

Tom Powers, 52, a janitor from Omaha, Neb., bought several tickets Tuesday from a convenience store. He said he would definitely walk away from work if he won the jackpot, but he's not sure how he would spend all the winnings.

"It's really unfathomable the amount of money this is putting out," Powers said.

------

By BARBARA RODRIGUEZ Associated Press

Associated Press writers Kevin Wang in Madison, Wis., and Josh Funk in Omaha, Neb., contributed to this report.

------

Follow Barbara Rodriguez at http://twitter.com/bcrodriguez

  • Viral StoriesMore>>

  • Puerto Rico declares chikungunya epidemic

    Puerto Rico declares chikungunya epidemic

    Friday, July 18 2014 7:48 AM EDT2014-07-18 11:48:06 GMT
    SAN JUAN, Puerto Rico (AP) -- Health officials in Puerto Rico on Thursday declared an epidemic of the mosquito-borne virus known as chikungunya, which was introduced into the Caribbean region late last year. Health Secretary Ana Rius said that more than 200 cases had been confirmed on the island as of June 25 and that the majority of them were reported in the capital of San Juan and nearby areas. The first case of chikungunya in the U.S. territory was reported in late May. Also on Thursday, ...
    SAN JUAN, Puerto Rico (AP) -- Health officials in Puerto Rico on Thursday declared an epidemic of the mosquito-borne virus known as chikungunya, which was introduced into the Caribbean region late last year. Health Secretary Ana Rius said that more than 200 cases had been confirmed on the island as of June 25 and that the majority of them were reported in the capital of San Juan and nearby areas. The first case of chikungunya in the U.S. territory was reported in late May. Also on Thursday, ...
  • Couple and baby miss Malaysia Airlines Flight 17 that was downed over Ukraine

    Couple and baby miss Malaysia Airlines Flight 17 that was downed over Ukraine

    Friday, July 18 2014 7:47 AM EDT2014-07-18 11:47:36 GMT
    Imagine how you would feel if you were supposed to be on Malaysia Airlines Flight 17 that was downed over eastern Ukraine on Thursday but changed your flight for a later time?
    Imagine how you would feel if you were supposed to be on Malaysia Airlines Flight 17 that was downed over eastern Ukraine on Thursday but changed your flight for a later time?
  • Company sets limits on how long workers can use bathroom

    Company sets limits on how long workers can use bathroom

    Wednesday, July 16 2014 11:02 AM EDT2014-07-16 15:02:02 GMT
    Should an employer have any say in how much time you spend in the bathroom on company time? According to an article on CNN.com, Chicago's Watersaver Faucet Company installed swipe card systems on bathrooms at their factory in an attempt to limit bathroom breaks to 6 minutes or less. WaterSaver disciplined nineteen workers for what they call "excessive use" of washrooms. FOX 5’s Wisdom Martin has more. READ MORE: http://money.cnn.com/2014/07/15/smallbusiness/bathroom-time-penalty/
    Should an employer have any say in how much time you spend in the bathroom on company time? According to an article on CNN.com, Chicago's Watersaver Faucet Company installed swipe card systems on bathrooms at their factory in an attempt to limit bathroom breaks to 6 minutes or less. WaterSaver disciplined nineteen workers for what they call "excessive use" of washrooms. FOX 5’s Wisdom Martin has more. READ MORE: http://money.cnn.com/2014/07/15/smallbusiness/bathroom-time-penalty/
Powered by WorldNow

WTTG FOX 5 & myfoxdc
5151 Wisconsin Ave. NW
Washington, DC 20016
Main Number: (202) 244-5151
Newsroom: (202) 895-3000
fox5tips@wttg.com

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices