DES MOINES, Iowa (AP) —In 2013, Powerball officials say the jackpot had climbed to an estimated $600 million.
Making it the largest prize in the Powerball jackpot game’s history and the world’s second largest lottery prize.
Powerball jackpot an American lottery game sold by 47 lotteries in 44 states plus the District of Columbia, Puerto Rico and the U.S. Virgin Islands) as a shared jackpot game.
Lottery officials say the prize is growing quickly because so many people have been purchasing the $2 tickets. The jackpot had grown by an estimated $236 million since the last drawing on Wednesday.
The last Powerball jackpot was won on March 30, so it’s been growing for about six weeks. The next drawing is Saturday night.
The largest jackpot ever was a $656 million Mega Millions prize won in March 2012. The prize was split three ways with winners in Illinois, Kansas and Maryland.
Odds of winning the Powerball jackpot are about 1 in 175 million. The biggest Powerball jackpot to date was $590,500,000 won in May 2013 by one ticket in Florida; it was the third-largest lottery jackpot worldwide, surpassed by two Mega Millions jackpots.
Powerball jackpot is It is coordinated by the Multi-State Lottery Association, a non-profit organization formed by an agreement with various U.S. lotteries. Since the format change on January 15, 2012, Powerball’s minimum advertised jackpot is $40 million (annuity) with a potential of nine-figure prizes. The jackpot rolls over until all the numbers are matched.
Powerball’s annuity is paid in 30 graduated installments; winners may choose cash instead. Powerball drawings are held Wednesday and Saturday evenings at 10:59 p.m. Eastern time. The game uses a 5/59 (white balls) + 1/35 (Powerballs) matrix from which winning numbers are chosen.
It costs $2 per play, with the Power Play option 1$ and 3$ (prior to January 15, 2012, games cost $1 each, or $2 with Power Play; the latter option was added in 2001.)