- Estimated Jackpot Amount: $500 million
- Cash Option Amount: Approximately $327 million
- Odds of Winning Jackpot Prize: Approximately 1:175 million
DES MOINES, Iowa (AP) - The record Powerball jackpot is now even bigger.
Powerball officials say they've boosted the jackpot for Wednesday's drawing to $500 million from the previously posted $425 million. Huge ticket sales nationally are pushing the payout higher.
A single winner choosing the cash payout will take home $327 million before taxes.
Record jackpots encourage players who usually sit on the sidelines to play and group purchases from work pools increase.
The jackpot is the largest ever for the Powerball game and the second largest lottery jackpot of all time, eclipsed only by the $656 million Mega Millions record set in March.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)