Record Powerball Jackpot Reaches $500 Million

DES MOINES, Iowa (November 27, 2012)--Powerball officials said Tuesday they've boosted the jackpot for Wednesday's drawing to $500 million from the previously posted $425 million after huge ticket sales nationally pushed the payout higher.

A single winner choosing the cash payout would take home $327 million before taxes.

Record jackpots encourage players who usually sit on the sidelines to play and group purchases from work pools increase.

The jackpot is the largest ever for the Powerball game and the second largest lottery jackpot of all time, eclipsed only by the $656 million Mega Millions record set in March.


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