ATLANTA – As a result of brisk ticket sales, Georgia Lottery officials announced today that Wednesday's Powerball jackpot has been bumped from $425 million to a staggering $500 million. The current jackpot is the largest in the game's history.
"The Powerball jackpot has soared to a record amount, which is exciting for players and important for the educational programs we fund," said Georgia Lottery Corporation President and CEO Debbie D. Alford. "Georgia Lottery players have a chance to win big, and the students of Georgia certainly win big with every ticket purchased."
The jackpot has grown since Oct. 6 and has rolled 15 times. The $500 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 $500 million jackpot prize paid over 29 years in 30 graduated payments, or the cash option, which is approximately $327 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: $500 million Annuity Amount: Jackpot prize paid over 29 years in 30 graduated payments Cash Option Amount: Approximately $327 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 – $500 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)