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$550 MILLION: Powerball buying frenzy sparks another jackpot increase

PowerballPowerball: $550 MILLION: Powerball buying frenzy sparks another jackpot increase
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Powerball fever sweeping the nation

UPDATE: Will roll to $900 million if nobody wins tonight

By Todd Northrop

As if $425 million or $500 million isn't enough, the Multi-State Lottery Association (MUSL) announced today that tonight's Powerball jackpot has been increased again — to $550 Million.

Lottery Post reported yesterday that Powerball tickets have been selling nationally at a pace of more than 100,000 tickets per minute (see Powerball selling 100,000 tickets per minute, Lottery Post, Nov. 27, 2012).

This continuous, massive stream of ticket buying has prompted MUSL to increase the estimated annuity jackpot for tonight to a knee-weakening $550 million, with a cash option of $360.2 million.

And the final jackpot tally after all the sales are counted will likely exceed that number, sinced lotteries typically post conservative jackpot estimates prior to the drawing.

Surely, tickets are being sold at such a rapid pace that the vast majority of all possible number combinations are being covered — multiple times for many combinations — but one still has to ask:  what if just one person wins $360 million in cash?  It's hard for most people to even picture a number that large, let alone manage that much cash.

Perhaps more interesting to imagine is, what if nobody wins tonight?

Well, we actually know, because MUSL has announced that if no one matches the winning numbers in tonight's drawing, the jackpot will roll to an estimated $900 million for Saturday's drawing.

And with the inevitable increases in jackpot size before the drawing, we will likely see the world's first billion-dollar lottery jackpot.  If nobody wins tonight.

Lottery players seeking to check the winning numbers Wednesday night are urged to use USA Mega (www.usamega.com).  State lottery Web sites are normally brought to a standstill during busy periods, while USA Mega normally remains responsive.

Powerball drawing results will be posted immediately after the 10:59 pm drawing at USA Mega. The number of winners and new jackpot will be announced after all participating Powerball states have reported their data, which normally occurs within a couple of hours after the drawing.

Tickets will remain on sale until around 10:00 pm Eastern Time on Wednesday, although players should check with a lottery retailer in their state for the exact sales cutoff time. Players are advised not to wait until the last minute.

The odds of winning the jackpot are approximately 1 in 175 million. The odds of winning any of the Powerball prizes are approximately 1 in 32.

Lottery players can see an after-tax analysis of the current Powerball jackpot by visiting USA Mega's Jackpot Analysis page.

Powerball features nine different prize levels, ranging from $4 all the way up to the jackpot. Players can win even if they just match one number — the Powerball number.

States also offer the Power Play option for an extra dollar per ticket purchased. The Power Play multiplies any non-jackpot prizes won by a fixed amount, depending on the prize level won.

Players who purchase the Power Play and win second prize will automatically have their prize increased by 2x to $2 million.

Lottery Post Staff

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169 comments. Last comment 2 years ago by jamella724.
Page 1 of 12
ashabug725's avatar - Yavill
Indiana
United States
Member #122873
February 9, 2012
322 Posts
Offline
Posted: November 28, 2012, 12:37 pm - IP Logged

One more raise before the draw tonight!!!

I wish I may, I wish I might...
           Win the Powerball jackpot THIS big night!!!

    Original Bey's avatar - Lottery-022.jpg

    Bahamas
    Member #133467
    September 30, 2012
    5462 Posts
    Offline
    Posted: November 28, 2012, 12:38 pm - IP Logged

    Powerball fever sweeping the nation

    UPDATE: Will roll to $900 million if nobody wins tonight

    By Todd Northrop

    As if $425 million or $500 million isn't enough, the Multi-State Lottery Association (MUSL) announced today that tonight's Powerball jackpot has been increased again — to $550 Million.

    Lottery Post reported yesterday that Powerball tickets have been selling nationally at a pace of more than 100,000 tickets per minute (see Powerball selling 100,000 tickets per minute, Lottery Post, Nov. 27, 2012).

    This continuous, massive stream of ticket buying has prompted MUSL to increase the estimated annuity jackpot for tonight to a knee-weakening $550 million, with a cash option of $360.2 million.

    And the final jackpot tally after all the sales are counted will likely exceed that number, sinced lotteries typically post conservative jackpot estimates prior to the drawing.

    Surely, tickets are being sold at such a rapid pace that the vast majority of all possible number combinations are being covered — multiple times for many combinations — but one still has to ask:  what if just one person wins $360 million in cash?  It's hard for most people to even picture a number that large, let alone manage that much cash.

    Perhaps more interesting to imagine is, what if nobody wins tonight?

    Well, we actually know, because MUSL has announced that if no one matches the winning numbers in tonight's drawing, the jackpot will roll to an estimated $900 million for Saturday's drawing.

    And with the inevitable increases in jackpot size before the drawing, we will likely see the world's first billion-dollar lottery jackpot.  If nobody wins tonight.

    Lottery players seeking to check the winning numbers Wednesday night are urged to use USA Mega (www.usamega.com).  State lottery Web sites are normally brought to a standstill during busy periods, while USA Mega normally remains responsive.

    Powerball drawing results will be posted immediately after the 10:59 pm drawing at USA Mega. The number of winners and new jackpot will be announced after all participating Powerball states have reported their data, which normally occurs within a couple of hours after the drawing.

    Tickets will remain on sale until around 10:00 pm Eastern Time on Wednesday, although players should check with a lottery retailer in their state for the exact sales cutoff time. Players are advised not to wait until the last minute.

    The odds of winning the jackpot are approximately 1 in 175 million. The odds of winning any of the Powerball prizes are approximately 1 in 32.

    Lottery players can see an after-tax analysis of the current Powerball jackpot by visiting USA Mega's Jackpot Analysis page.

    Powerball features nine different prize levels, ranging from $4 all the way up to the jackpot. Players can win even if they just match one number — the Powerball number.

    States also offer the Power Play option for an extra dollar per ticket purchased. The Power Play multiplies any non-jackpot prizes won by a fixed amount, depending on the prize level won.

    Players who purchase the Power Play and win second prize will automatically have their prize increased by 2x to $2 million.

    I am hoping for another increase at or around 6pm. If they market it at 600m with a few hours left to go surely they can beat the MM March record!

    "Everything works  ONCE!"

      Win$500Quick's avatar - Lottery-050.jpg
      Florida
      United States
      Member #77815
      August 1, 2009
      3273 Posts
      Offline
      Posted: November 28, 2012, 12:39 pm - IP Logged

      There will be a winner tonight and I hope it is me. I can't wait to be cursed by the lottery.

      Thousandaire

        whiteballz's avatar - Lottery-015.jpg
        Nutley, New Jersey
        United States
        Member #131063
        August 1, 2012
        784 Posts
        Offline
        Posted: November 28, 2012, 12:40 pm - IP Logged

        wow. still about 8 hours untill the draw. This jackpot is going to get bigger cause most people wait til the last minute to buy their ticket.

        .

          sully16's avatar - sharan
          Listens to the wind

          United States
          Member #81740
          October 28, 2009
          19510 Posts
          Offline
          Posted: November 28, 2012, 12:41 pm - IP Logged

          I think it will , when people get off work, we'll see another spike.

          There's only one US Flag

            RedStang's avatar - Malsingha
            Peter Patel is innocent.
            United States
            Member #121966
            January 21, 2012
            2619 Posts
            Offline
            Posted: November 28, 2012, 12:46 pm - IP Logged

            wow. still about 8 hours untill the draw. This jackpot is going to get bigger cause most people wait til the last minute to buy their ticket.

            I said 550 b4, but i think your right. My pool already asked me to get more tics.

              zinniagirl's avatar - flower avatar_0026.jpg
              nc
              United States
              Member #99522
              October 26, 2010
              226 Posts
              Offline
              Posted: November 28, 2012, 12:48 pm - IP Logged

              Good luck to everyone.

                dallascowboyfan's avatar - tiana the-princess-and-the-frog.jpg
                Oklahoma
                United States
                Member #82391
                November 12, 2009
                5287 Posts
                Offline
                Posted: November 28, 2012, 1:17 pm - IP Logged

                $550 Million..............White BounceBananaDance

                I Love Pink & Green 1908

                  Piaceri's avatar - sarsony1
                  Wannabe Won Percenter
                  Republic of Texas
                  United States
                  Member #57557
                  January 9, 2008
                  992 Posts
                  Offline
                  Posted: November 28, 2012, 1:20 pm - IP Logged

                  Nice!

                  White Bounce

                  face

                  singlewinnersinglewinnersinglewinner   

                    Avatar

                    United States
                    Member #122696
                    February 6, 2012
                    202 Posts
                    Offline
                    Posted: November 28, 2012, 1:36 pm - IP Logged

                    Meh, don't care, still just want the million dollar second prize. 

                      Avatar
                      New Member
                      Los Angeles
                      United States
                      Member #135717
                      November 28, 2012
                      7 Posts
                      Offline
                      Posted: November 28, 2012, 1:45 pm - IP Logged

                      Wow... My dream is starting to come true tonight folksss..... although I'm in CA but still got some ticket from friend purchase for me.

                      I don't think I can concentrate on my work now.... my god help me Big Smile

                        Avatar
                        New Member
                        Lake Katrine, NY
                        United States
                        Member #135437
                        November 25, 2012
                        38 Posts
                        Offline
                        Posted: November 28, 2012, 1:58 pm - IP Logged

                        UPDATE: Will roll to $900 million if nobody wins tonight

                         

                        That of course actually means it would be more than a Billion dollars by Saturday night.

                          Original Bey's avatar - Lottery-022.jpg

                          Bahamas
                          Member #133467
                          September 30, 2012
                          5462 Posts
                          Offline
                          Posted: November 28, 2012, 2:03 pm - IP Logged

                          UPDATE: Will roll to $900 million if nobody wins tonight

                           

                          That of course actually means it would be more than a Billion dollars by Saturday night.

                          I hope people aren't holding onto their grocery money hoping it rolls again - lol.

                          "Everything works  ONCE!"

                            Avatar
                            New Member
                            Lake Katrine, NY
                            United States
                            Member #135437
                            November 25, 2012
                            38 Posts
                            Offline
                            Posted: November 28, 2012, 2:10 pm - IP Logged

                            I'm curious as to by 10pm tonight, the percentage played of all possible combinations of numbers. 90%? 95%? I suppose with dupe sets of numbers, there's a small chance that nobody could hit, just as 3 people could hit.

                            It sure would be fun though to actually see a more than 1 Billion dollar jackpot. Since currently it jumped 100 from 325 to 425, and up to 550 since (600 by draw time?), to raise it by about 300 right from the start instead of 100, we could be looking at 1.25 Billion by Saturday night.