Powerball jackpot boosted again to $550M

Powerball jackpot boosted again to $550M

November 28th, 2012 by Associated Press in Local - Breaking News

Robert Brent holds up the Powerball tickets he purchased as customers line up to buy theirs at a convenience store Tuesday in Orlando, Fla. The powerball jackpot is more than $500 million for Wednesday's drawing.

Photo by Associated Press/Times Free Press.

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.