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Powerball jackpot raised again, soars to $550M

By   /   November 28, 2012  /   Comments

Staff Reports

ATLANTA – Powerball is packing an even more powerful punch. Georgia Lottery officials announced today that strong sales have pushed Wednesday’s Powerball jackpot from $500 million to $550 million.

The current jackpot is the largest in the game’s history.

The jackpot has grown since Oct. 6 and has rolled 15 times.

The $550 million Powerball jackpot is the second largest in Georgia Lottery history behind the historic world record $656 million Mega Millions jackpot in March.

Powerball offers two payment options: the $550 million jackpot prize paid over 29 years in 30 graduated payments, or the cash option, which is approximately $360 million.

Powerball tickets are $2 per play.

As with all other Georgia Lottery games, proceeds from Powerball will benefit education in the state of Georgia.

Since its first year, the Georgia Lottery Corp. has returned more than $13.8 billion to the state of Georgia for education. All Georgia Lottery profits go to pay for specific educational programs, including Georgia’s HOPE Scholarship Program and Georgia’s Pre-K Program. More than 1.4 million students have received HOPE, and more than 1.2 million 4-year-olds have attended the statewide, voluntary prekindergarten program.

POWERBALL FAST FACTS

Draw Date: Nov. 28, 2012

Estimated Jackpot Amount: $550 million
Annuity Amount: Jackpot prize paid over 29 years in 30 graduated payments
Cash Option Amount: Approximately $360 million
Cost to Play: $2 per play; an additional $1 per play to add the Power Play multiplier
Drawings: 11 p.m. (ET) every Wednesday and Saturday
Overall Odds of Winning Any Prize: Approximately 1:32
Odds of Winning Jackpot Prize: Approximately 1:175 million
Date Jackpot Began Rolling: Oct. 6, 2012
Number of Rolls: 15
Last Winning Powerball Jackpot Ticket: Oct. 3, 2012 – $50 million jackpot (Delaware winner)
#1 Powerball Jackpot: Nov. 28, 2012 – $550 million jackpot (Current jackpot)

Previous Powerball Record Jackpot: Feb. 18, 2006 – $365 million (Nebraska winner)

#1 Georgia Lottery Jackpot: March 30, 2012 – $656 million Mega Millions jackpot (Maryland, Illinois, Kansas winners)

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About the author

Owner / Editor / Writer

Tom Knighton is the publisher of The Albany Journal. In November, 2011, he became the first blogger to take over a newspaper anywhere in the world. In August of 2012, he made the difficult decision to take the Journal out of print circulation and become an online news agency, a first for the Albany area.

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