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Powerball Jackpot Raised to $500 Million

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DES MOINES, Iowa – Wednesday’s Powerball jackpot has reached a half-billion dollars.

The jackpot has initial been estimated at $485 million but strong sales raised the jackpot to an estimated $500 million. If you hit the jackpot and want your winnings now, the cash option would be $337.8 million. It has been more than two months since the last time someone won the Powerball jackpot.

The Iowa Lottery said that has been almost a exactly a year since the Powerball jackpot has been this high. A jackpot of $425.3 million was won in the drawing on February 19, 2014.

The record Powerball jackpot of $590.5 million was won in the drawing on May 18, 2013, by a Florida woman. The largest lottery jackpot in the world was a $656 million Mega Millions prize won on March 30, 2012. It was split by three tickets in Illinois, Kansas and Maryland.