Who wants to be a $500 millionaire?
The jackpot for Wednesday’s Powerball drawing is estimated at $500 million, a record-breaking figure for the multi-state lottery game.
According to CNN.com, the previous Powerball record was $365 million, which was split among eight workers at a Nebraska meatpacking facility in 2006.
While there is no question $500 million is a pile of money, it isn’t a record for U.S. lottery games. That title goes to the Mega Millions jackpot of $656 million that was split among three players in March, says CNN.
Wednesday’s jackpot has grown to a record pot because no one has matched the winning numbers in 15 straight drawings. The numbers for Saturday’s $325 million drawing were 22, 32, 37, 44, 50 and Powerball 34.
Powerball is played in 42 states, including Minnesota, as well as the District of Columbia and the U.S. Virgin Islands.
Minnesotans are expected to buy $6.33 million in Powerball tickets for Wednesday’s drawing, according to Minnesota Lottery Executive Director Ed Van Petten.
““We love the excitement that record jackpots like this create right here in Minnesota and nationally,” he says in a Minnesota Lottery press release. “We would like to remind folks to play responsibly and to remember that it only takes one ticket to win.”
HOW TO PLAY POWERBALL
Interested in buying a ticket for Wednesday’s drawing? Here is “how to play” information from the Powerball website:
Powerball is a combined large jackpot game and a cash game. Every Wednesday and Saturday night at [9:59 p.m. central time], we draw five white balls out of a drum with 59 balls and one red ball out of a drum with 35 red balls. Draw sales cut off at least 59 minutes before the draw. Check for local cut-off time.
Players win by matching one of the 9 Ways to Win. The jackpot (won by matching all five white balls in any order and the red Powerball) is either an annuitized prize paid out over 29 years (30 payments) or a lump sum payment. Each ticket costs $2. If the winner chooses the annuity, the annual payment will be increased each year by the percentage set out in the Powerball game rules.
The second prize (won by matching five white balls in any order) is $1,000,000 paid in cash and any time you match the red Powerball, you win. The overall odds of winning a prize in the game are approximately 1 in 32.
The cutoff for buying tickets for Wednesday’s drawing is 9 p.m. Wednesday, says the Minnesota Lottery.
WHERE TO PLAY POWERBALL
Click here for a list of Powerball retainers in Inver Grove Heights.