Powerball Prize Jumps to $425 Million

Wednesday's winner would receive the third largest Powerball jackpot.

Melina Cholmondeley purchases a Powerball lottery ticket Tuesday, Aug. 6, 2013, in Washington D.C., as the jackpot reaches $425 million for Wednesday's drawing.
By + More

Residents in 43 states, Washington D.C. and the Virgin Islands will have their chance to win $425 million in Wednesday's Powerball drawing, the third-highest total in the game's history.

[READ: Stores With Past Powerball Winners Lure Crowds]

The Powerball jackpot jumped from Saturday when no one had a winning ticket the $307 million prize. The sole winner of the lottery will receive a pre-tax lump sum payment of $244 million, according to USA Today.

If there is no sole winner, "We would be in world record territory" for the next drawing this Saturday, according to Chuck Strutt, head of the Multi-State Lottery Association.

Wednesday's drawing is the latest in a series of history-making jackpots. The largest single Powerball prize, an 84-year-old Florida woman, won $590 million in May. Winners in Missouri and Arizona split a $587 million prize in November 2012.

According to the Los Angeles Times, in an effort to boost winnings, lottery officials overhauled the game in January 2012, doubling ticket prices from $1 to $2, increasing the starting jackpot from $20 million to $40 million.

[PHOTOS: Crowds Storm Stores For Powerball Tickets ]

Though the odds of winning are low – 1 in about 175 million – customers flocked to a 7-Eleven in Langhorne, Pa. after word got out that the store had sold a $1 million Powerball ticket on Saturday.

"The manager said people were pouring into her store wanting to buy lottery tickets," 7-Eleven spokeswoman Margaret Chabris told the Associated Press. "They were of course really excited that one of their customers had won."

According to The Star-Ledger, Pennsylvania has sold more winning Powerball tickets - 16 since 2003 - than any other participating state, followed by 11 in Indiana, eight in Louisiana and seven in Florida and Missouri.

The largest lottery prize, a $656 million Mega Millions jackpot in March 2012, was split between three winners in Kansas, Illinois and Maryland.

The Powerball drawing is scheduled for 10:59 p.m. EDT Wednesday.

 

More News: