by Nate Wooley | May 16, 2013 10:57 am
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.
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.
Source URL: http://investorplace.com/2013/05/no-winner-powerball-jackpot-soars-to-third-highest-ever/
Short URL: http://invstplc.com/1nyzYzE
Copyright ©2015 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.