Powerball jackpot hits $325 million
11/23/2012 8:47:09 PM
URBANDALE, Iowa, Nov. 23 (UPI) --
The prize for Saturday's draw in the multi-state lottery game Powerball has increased to $325 million, officials said.
The jackpot Saturday, in which contestants pick six numbers in hope of matching chosen Powerball numbers, crossed the $300 million threshold for the third time this year because there were no winners Wednesday game. The odds of winning are 1-in-175,223,510.
A $360 million payout in February 2006 was the largest Powerball prize ever offered, the indexing website Lottery Universe said.
While the prize is listed at $325 million, the owner of a winning ticket could opt for a one-time cash payout of $212.8 million, a notice the Powerball website noted.
The Powerball contest is offered in 21 participating states and operated by the Multi-State Lottery Association, which has headquarters in Urbandale, Iowa.