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Powerball Jackpot Climbs to $550 Million

Previous record was $365 million.

With just a few hours to go before the next drawing, sales for the Powerball lottery continue at a strong pace.

Since the last drawing on Nov. 24, the Powerball jackpot has grown by over $100 million to a record $550 million. The estimated cash payout is $360.2 million.

According to ABC News, the previous record jackpot was $365 million in 2008.

Each Powerball ticket cost $2. Players choose five numbers plus a sixth Powerball number. Players matching all six numbers can select an annuitized amount paid out over 29 years or a lump sum payment. For complete details, visit the Powerball website.

The next drawing will be Wednesday, Nov. 28 at 10:59 p.m. Eastern Time.

Do you plan on playing Powerball? Let us know in the comments.

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Mitch November 28, 2012 at 07:20 PM
1 in 175,223,510 chance to win. At $2 a ticket, it would cost you $350,447,702 to play every number possibility and guarantee you a single winning ticket. Cash payout is estimated at $360.2 Million. That would be about a $10 million guaranteed profit! Of course if someone else wins you have to split the pot and then you are screwed.
Kristi Reed (Editor) November 28, 2012 at 08:21 PM
Well, the odds of winning without a ticket are zero, so I guess 1 in 175,223,510 is a little better than that. I think the fun part is just imagining what I'd do with that much money. I have LOTS of ideas.

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