News From Terre Haute, Indiana

News

May 16, 2013

Powerball jackpot quickly jumps to $550 million

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.

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.

 

1
Text Only | Photo Reprints
News
Latest News
TribStar.com Poll
AP Video
13 Struck by Lightning on Calif. Beach Raw: Massive Dust Storm Covers Phoenix Raw: Shipwrecked Concordia Completes Last Voyage Baseball Hall of Famers Inducted Raw: Sea Turtle Hatchlings Emerge From Nest Traditional African Dishes Teach Healthy Eating Raw: Bolivian Dancers Attempt to Break Record Israel, Hamas Trade Fire Despite Truce in Gaza Raw: Israel, Palestine Supporters Rally in US The Carbon Trap: US Exports Global Warming Kangaroo Goes Missing in Oklahoma Italy's Nibali Set to Win First Tour De France Mobile App Gives Tour of Battle of Atlanta Sites UN Security Council Calls for Gaza Cease-fire Raw: Palestinians and Israeli Soldiers Clash Raw: Violent Clashes Between Libyan Militias Raw: Planes With MH17 Victims Land in Eindhoven US Evacuates Embassy in Libya Amid Clashes Virginia Governor Tours Tornado Aftermath Raw: Air Algerie Flight 5017 Wreckage
NDN Video
GMA: Dog passes out from excitment to see owner "The Hunger Games: Mockingjay – Part 1" Trailer is Here! Chapter Two: Designing for Naomi Watts Baseball Hall of Famers Inducted Florida Keys Webcam Captures Turtles Hatching Morgan Freeman Sucks Down Helium on 'Tonight Show' Robin Wright Can Dance! (WATCH) She's Back! See Paris Hilton's New Carl's Jr. Ad Big Weekend For Atlanta Braves In Cooperstown - @TheBuzzeronFox Chapter Two: Becoming a first-time director What's Got Jack Black Freaking Out at Comic-Con? Doctors Remove 232 Teeth From Teen's Mouth Bradley Cooper Explains His Voice in 'Guardians of the Galaxy' Deja vu: Another NYPD officer choke-holding a suspect 'Fifty Shades of Grey': Watch the Super Sexy First Trailer Now! Reports: Ravens RB Ray Rice Suspended For 1st 2 Games Of The Season Air Algerie plane with 119 on board missing over Mali Diamond Stone, Malik Newman, Josh Jackson and others showcase talent Free Arturo - The World's Saddest Polar Bear A Look Back at Batman On Film Through The Years
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
  • -

     

    March 12, 2010

activity
Real Estate News