No Winner! Powerball Jackpot Soars to Third-Highest Ever

by Nate Wooley | May 16, 2013 10:57 am

No Winner! Powerball Jackpot Soars to Third-Highest Ever

Powerball 112512L 300x168 No Winner! Powerball Jackpot Soars to Third Highest Ever[1]The Powerball lottery jackpot is now at its second-highest level ever.

The jackpot — which now sits at $475 million — is the third-highest for any U.S. lottery ever, the Associated Press reports[2].

It’s the third time in a year that a lottery jackpot has grown to this level. In 2012, a Mega Millions jackpot hit $656 million and a Powerball jackpot reached $587.5 million. The redesign of the game — along with a doubling of the cost per ticket — in January 2012 meant that jackpots would grow faster and be won more often.

“It usually took a handful of months, if not several months, for a jackpot to reach this large amount. Now it’s achieving that within a handful of weeks. I think the redesign is achieving exactly what we had wanted it to achieve, which is the bigger, faster-growing jackpot,” said an official with the Iowa Lottery.

More stories about the lottery:

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2012/11/Powerball-112512L.jpg
  2. the Associated Press reports: http://hosted.ap.org/dynamic/stories/U/US_POWERBALL_JACKPOT?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2013-05-16-03-23-02
  3. Brothers Win Lottery, Blow Up House: http://investorplace.com/2013/02/brothers-win-lottery-blow-up-house/
  4. Lotto Mistake Results in $14 Million Win for Single Mom: http://investorplace.com/2013/05/lotto-mistake-results-in-14-million-win-for-single-mom/
  5. Homeless Man Wins $50,000 on Scratch-Off Ticket: http://investorplace.com/2013/04/homeless-man-wins-50000-on-scratch-off-ticket/

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