Powerball Jackpot Rises To Record $1.5 Billion

The prize for Wednesday night's Powerball jackpot is now $1.4 billion, making it the largest lottery prize in human history.

"Jackpot increased because of yesterday's strong sales", Kelly Cripe, director of media relations at the Texas Lottery Commission, said in a statement announcing the higher estimated payoff. Figure if you have a 1 in 292.2 million chance of winning with one ticket, you'll have 10 times the odds if you buy 10 tickets, but that's still a drop in the bucket.

The odds of winning the big Powerball jackpot are one in 292,201,338, much worse than the chance of getting struck by lightning.

The Powerball jackpot has been growing ever since the last victor was drawn in November.

"Usually when we have a lower jackpot or a regular Powerball week, we do about 500,080 dollars in ticket sales, so the high jackpot is really encouraging people to get out there to buy tickets", Watson said.

It was bought at the Hy-Vee store at 3301 Gordon Drive.

Update: CNN is reporting the jackpot has now reached $1.4 billion as of Monday morning, for Wednesday's drawing.

Dominguez said he plans to use his winning to help his family, pay bills and help both he and his wife complete their college degrees.

If do you beat the odds, you'll get to choose between being paid $1.4 billion through annual payments over 29 years or one cash payment of $867 million. Officials say if no one wins, the jackpot, it could go up even more and make even more money for schools.

A Powerball ticket costs $2 per play, and must be purchased by 9 p.m. Wednesday for the 9:59 p.m. drawing that night.

Last week's Powerball sales in Wisconsin totaled $21.7 million, Marquis added.

It's because the jackpot is actually $930 million (before taxes) if the victor decides to take a lump sum payment.

Powerball is played in 44 states, Washington, D.C., Puerto Rico and the U.S. Virgin Islands.

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