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>>

  • Drones get more space to roam over Texas: FAA approves runway for unmanned aircrafts

    Drones get more space to roam over Texas: FAA approves runway for unmanned aircrafts

    Monday, September 15 2014 10:06 AM EDT2014-09-15 14:06:39 GMT
    The skies over South Texas are about to get a lot more crowded after drone researchers at a Texas university were granted more airspace to test and fly their unmanned aircraft. The Federal Aviation Administration recently approved a new range for the Lone Star Unmanned Aircraft Systems Center at Texas AM University-Corpus Christi, providing the researchers with around 290 flying days a year over mountains, high deserts, agriculture, coastal and maritime topographies, including the...
    The skies over South Texas are about to get a lot more crowded after drone researchers at a Texas university were granted more airspace to test and fly their unmanned aircraft. The Federal Aviation Administration recently approved a new range for the Lone Star Unmanned Aircraft Systems Center at Texas AM University-Corpus Christi, providing the researchers with around 290 flying days a year over mountains, high deserts, agriculture, coastal and maritime topographies, including the...
  • Kids' poisonings linked to anti-addiction medicine

    Kids' poisonings linked to anti-addiction medicine

    Monday, September 15 2014 9:31 AM EDT2014-09-15 13:31:20 GMT
    CHICAGO (AP) -- An anti-addiction drug used to fight the nation's heroin and painkiller abuse epidemics poses a threat to young children who accidentally swallow relatives' prescriptions, a federal study says. Some children have died. The study found that the drug, buprenorphine, was the adult prescription medication most commonly implicated in emergency hospitalizations of children aged 6 and younger. For every 100,000 patients prescribed buprenorphine, 200 young children were hospitalized ...
    CHICAGO (AP) -- An anti-addiction drug used to fight the nation's heroin and painkiller abuse epidemics poses a threat to young children who accidentally swallow relatives' prescriptions, a federal study says. Some children have died. The study found that the drug, buprenorphine, was the adult prescription medication most commonly implicated in emergency hospitalizations of children aged 6 and younger. For every 100,000 patients prescribed buprenorphine, 200 young children were hospitalized ...
  • Ravens fans, men and women, wear Ray Rice jerseys at Thursday night game

    Ravens fans, men and women, wear Ray Rice jerseys at Thursday night game

    Thursday, September 11 2014 11:18 PM EDT2014-09-12 03:18:32 GMT
    Music blared from the purple bus, and Baltimore Ravens fan Racquel Bailey stood with drink in hand amid her usual tailgate buddies while making a bold fashion statement: a black, rhinestone-decorated jersey with the white No. 27. A Ray Rice jersey.
    Music blared from the purple bus, and Baltimore Ravens fan Racquel Bailey stood with drink in hand amid her usual tailgate buddies while making a bold fashion statement: a black, rhinestone-decorated jersey with the white No. 27. A Ray Rice jersey.
Powered by WorldNow
Untitled

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 | New Terms of Service What's new | Ad Choices