PHOENIX, AZ--(Marketwired - May 17, 2013) - The Powerball® jackpot has been increased from $550 million to an estimated $600 million for the draw on Saturday, May 18. This is the largest jackpot in Powerball history, which beats Powerball's previous highest jackpot of $587 million back in November 2012. The cash option would be $379.9 million before taxes.
The jackpots are established based on a forecast of ticket sales. In this case, the ticket sales have outpaced the forecast, resulting in the increase of the estimated jackpot amount.
Since the jackpot started rolling on April 3, there have been more than $2.8 million in prizes awarded in Arizona alone. This includes a second prize $1 million winning ticket and 15 $10,000 winning tickets. The $1 million winning ticket was purchased at the QuikTrip located at 2450 E. Union Hills Dr. in Phoenix and is yet to be claimed.
"Powerball ticket sales have soared, creating the largest jackpot in Powerball history," said Karen Bach, director of budget, products, and communications. "The Arizona Lottery is thrilled about the additional funds being generated for our beneficiaries and retail partners."
The redesigned $2 Powerball game offers many appealing features to players, including better overall odds and jackpots that grow bigger, faster. The starting jackpot doubled from $20 million to $40 million and the second prize for matching all five numbers, without the Powerball, increased from $200,000 to $1 million. Since $2 Powerball launched in January 2012, there have been 22 $1 million second prize winning tickets sold in Arizona.
Tickets for Saturday's Powerball draw can be purchased at any Arizona Lottery retailer until 6:59 p.m. Saturday evening. Players can check their tickets by visiting www.ArizonaLottery.com.
Mega Millions also has a high jackpot of $190 million for the draw tonight, May 17. The cash option is $140.9 million before taxes.
Players must be 21 years or older to purchase or redeem tickets. Winners have 180 days from the drawing date to claim their prize at an Arizona Lottery office or by mail. Overall odds vary by game. All sales are final. In accordance with the Americans with Disabilities Act, these materials may be made available in an alternate format. Gambling Problem? Call 1.800.NEXT STEP. Please Play Responsibly™.
About the Arizona Lottery
The Arizona Lottery operates entirely from the revenue it generates through the sale of its products; it receives no General Fund dollars from the State. Proceeds from sales of Lottery tickets -- over $3 million per week -- fund a variety of state programs. Since July 1981, the Arizona Lottery has paid out more than $5 billion in prizes to players, over $2.8 billion in net profit to the state and almost $591 million in commissions to retailers.