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Powerball Mania Sweeps Michigan as Jackpot Exceeds $500 Million

The record-winning ticket could be determined during tonight's drawing.

 

With no winner over the weekend, the multi-state Powerball lottery is now reportedly worth more than $500 million, the Associated Press reported. And with a day of sales left before the next drawing Wednesday night, there's a good chance it will soar even higher.

Powerball is played in 42 states, including Michigan, along with Washington, D.C., and the Virgin Islands.

There has been no Powerball winner since Oct. 6, and the jackpot already has reached a record level for the game. It was first posted at $425 million but revised upward to $500 million when brisk sales Tuesday increased the payout, according to the Associated Press. It's the second highest jackpot in lottery history, behind only the $656 million Mega Millions prize in March.

Whether there's a winning ticket or not, the lottery providers are cashing in.

Powerball tickets doubled in price in January to $2, and while the number of tickets sold initially dropped, sales revenue has increased by about 35 percent over 2011.

Sales for Powerball reached a record $3.96 billion in fiscal 2012 and are expected to reach $5 billion this year, said Chuck Strutt, executive director of the Des Moines, Iowa-based Multi-State Lottery Association, the group that runs the Powerball game, the Associated Press reported.

Got a 'lucky' spot to purchase lottery tickets? If not, learn where you can purchase tickets in Bloomfield and Bloomfield Hills by visiting the Michigan Lottery website

You can also explore your odds of striking it rich in the game.

Gary Ruhinen November 28, 2012 at 07:56 PM
The one problem I have with the powerball payoffs is the ticket that has four of the numbers but no powerball number. The odds are over 19,000 to 1 to get such a ticket. How in the world is a chincy $100.00 payoff really justified? At two dollars a ticket you only get paid back 50 times your ticket cost while the odds against getting four numbers is 19,000+ to one! Not even close to being fair folks.

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