DES MOINES, Iowa (AP) — The Powerball jackpot jumped to $550 million on Thursday — the third largest lottery in history — as dreamers in all but the seven states where the game isn’t played snatched up tickets for the minuscule chance at a life on easy street.
Thursday’s announcement by the Iowa-based Multi-State Lottery Association means ticket sales have soared since Wednesday night’s drawing for an estimated $360 million jackpot, in which no one picked all six numbers correctly.
Sales jumped by $260 million in the days before November’s biggest Powerball jackpot win in history — a prize of $587.5 million. And Iowa Lottery spokeswoman Mary Neubauer said it’s possible that Saturday’s could end up eclipsing that amount.
A $550 million jackpot would be the second largest in Powerball history and the third largest for any lottery.
Lottery officials expect jackpot totals of this size to continue to climb in shorter amounts of time, thanks in part to a game redesign in January 2012 that increased the odds of winning some kind of prize, but also lowered the possible number combinations to win the Powerball.
There’s also “cross-selling” of Powerball and Mega Millions tickets — states being able to sell both Powerball tickets and Mega Millions tickets — that began in January 2010. As a result, large jackpots will continue to surpass all-time jackpot records set years ago, said Neubauer.
“It usually took a handful of months, if not several months, for a jackpot to reach this large amount,” she said. “Now it’s achieving that within a handful of weeks. I think the redesign is achieving exactly what we had wanted it to achieve, which is the bigger, faster-growing jackpot.”
The redesign means players don’t necessarily have to strike big to get lucky. A $1 increase and new $1 million and $2 million prizes means the odds of winning something have increased. On Wednesday, $1 million prizes were won in 16 states, and $2 million prizes were won in two states.
In fact, more than half of the all-time jackpot records have been reached in the last three years. The top two all-time jackpots — $656 million from a Mega Millions jackpot and $587.5 million from a Powerball jackpot — were achieved in 2012.
The last major jackpot win came when a New Jersey man won a $338.3 million jackpot on March 23. It is now considered the fourth largest Powerball jackpot in history.
Players aren’t complaining about the large sums. Rachel Rand said she just couldn’t help herself and bought several Powerball tickets.
“How can you not play $2?” said the 32-year-old insurance adjustor. “A $10 investment if you win is pretty good.”
Insurance agent Joe Williams, of Middleton, Wis., doesn’t necessarily spend more when the prize is high. But his $4 investment in the quick-pick option means he does spend.
“I know rationally it makes no sense,” he said. “But at the same time, without a ticket, I have zero chance.”
Tom Powers, 52, a janitor from Omaha, Neb., bought several tickets Tuesday from a convenience store. He said he would definitely walk away from work if he won the jackpot, but he’s not sure how he would spend all the winnings.
“It’s really unfathomable the amount of money this is putting out,” Powers said.
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This Week’s Celebrity Instagrams (11/26-12/2)
30 photos Launch gallery
1. Little Legend and Puddy 😍😍😍😍
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2. "You on point Phife?" "all the time,Tip". 💥 #bannedfromnormal
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3. Vegan! The Impossible burger at Crossroads
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4. Lawrence #BeforeandAfterEpisodes 1-4: 184lbs 13% body fatEpisode 8: 196lbs 8% body fat S/O @coachdaveboxing with the works outs and @kildareriordan with the nutrition
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5. Jus haaaanngin out
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6. Meanwhile back at home in Atlanta GA someone mad they not on the 🛳. 😳
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7. No limits... Photo cred: Chris Bridges @ludacris
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8. new new
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9. Apparently my 260lbs is too much for the actual vines in the Hawaiian jungles to hold me without breaking and me falling hundreds of feet. So for safety purposes, I'm forced to swing thru #Jumanjj on wires strong enough to hold 12 adult buffaloes and 1 adult Rock. #OnSet #Jumanji #IronicallyIEatBuffaloDailyForLunch #MoreManThanNatureKnowsWhatToDoWith
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10. hey ma! 🎎#wcw 💙
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11. Surprise visit to our factories!!! #GoodAmerican #USA
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13. Peachy Keen 🔥✨⚡️
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14. If this don't look thankful I don't know what does. Happy Thanksgiving to you and yours. #UltraBlessed #24kMagic #SweetPotatoFly
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15. Late nights @nbcmarlon with the writers... we in here!!!
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16. There goes my baaaaaaaaabbbbyyyyy #QueenKingMagic!!! We're up to something! Ira BIG!!! Stay out our buisness -
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17. You want to win every game you play but when you come home to these faces... who cares. #ILoveYouGirls best part of my day, everyday!
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18. Steady,steady..... full size jenga.. "I got this one "???? Or do I ?
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19. Cornrows kind of day 😉@dontaysavoy2 you convinced me and I love. ❤️️
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20. #BrotherlyLove #tbt
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22. #basel #TeamLOVE @kingcombs
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23. Just introduced a special screening of @directher 's groundbreaking (must see) documentary @13thfilm with my brother @themichaelealy | @unitedblackout #blackoutblackfriday
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24. Me & Vanessa Williams giving #DuckLips #Pose on the set of #DaytimeDivas @vh1 - Coming Soon to a tv near you. Lol. - My make up done by @makeupsurgeon
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25. This picture just makes me wanna praise the Lord, you hear me!!!!!! Yes Lord brotha #TEDDYCAMPBELL What a #man !!! You are everything right on this picture husband ......... #gorgeous #stylish #classy #strong #masculine #king #sexy #debonair #gentlemenstyle And that #bible in your hand just seals the deal for me (probably cause i know that, that is what helped you become just as amazing as you look😘). While my heart and mind experiences the goodness of God at #church on Sundays, my eyes experiences the goodness of Teddy😍. Amen somebody🙌🏽. "Bless the Lord oh my soul and all that is within me bless his holy name" #myman #myhusband #goodman #blackman #dapperman #godlyman #goodfather #mybestfriend
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26. Yesterday was my mama's 53rd birthday!!!!! Got to celebrate with her all day. If this is what I have to look forward to I can't wait. Looking like a soft bucket a cocoa butter. Yaaaaaaaaaas! 😍😍😍 love you mommy!
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27. "Shout out to @PureAtlanta for getting the family right"....I'm loving this jogger. 😍😍
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28. This pic warms my heart ❤️ #myLogiebeans and aunt aunt umba @itowandabraxton 😘
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29. You will always be my baby😜. #HappyBirthdayReginae #mybaby18
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30. GC "Gods Child" Red on Red SweatSuit available now at www.MonicaApparel.com ... Take Your Crown wherever you go!! I'm pictured in a Medium... Go to the site now for other options ... cc: @trukernell
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