POSTED: Monday, November 26, 2012 - 4:08pm
UPDATED: Tuesday, November 27, 2012 - 1:49pm
TLC Media Relations — the countdown begins for biggest powerball® jackpot in history
Wednesday’s $425 million jackpot has a cash value of $278.3 million
(AUSTIN) – In just two days, Texans will have the opportunity to win the second-largest lottery jackpot in world history. Wednesday night’s Powerball®<http://www.txlottery.org/export/sites/lottery/Games/Powerball/> jackpot is an estimated $425 million, making it the largest Powerball jackpot ever, and second among jackpots for all other lottery games. Only the $656 million Mega Millions® jackpot from March of this year was larger. Lottery players have until 9 p.m. Central time on Wednesday to purchase tickets.
“Texas has had numerous Powerball second-tier winners of $1 million and $2 million, but we have never had a Powerball jackpot winner,” said Gary Grief, executive director of the Texas Lottery®. “Since everything is bigger in Texas, we hope that it will be a Texan that will win this enormous jackpot.”
FACTS ABOUT THIS JACKPOT:
* Largest jackpot in Powerball history.
* The second-highest cash value option jackpot in world lottery history ($278.3 million).
* Second-largest jackpot for any lottery game in world history (estimated $425 million).
* If no one wins on Wednesday, it could become the largest jackpot in world history, eclipsing the March 2012 Mega Millions jackpot of $656 million.
Bigger jackpots, bigger sales
“Powerball sales in Texas are showing a dramatic increase. Sales for yesterday alone were up 300 percent from the previous Sunday,” said Grief. “Whenever we have these historic jackpots we see a tremendous increase in sales, which means more revenue for public education in Texas.”
Nationally, Powerball draw sales just for Saturday, Nov. 24, were $98.3 million compared to $38.6 million for the previous Saturday, representing a 254 percent increase. Powerball sales for last week, in anticipation of Saturday’s $325 million jackpot, were $148.6 million as compared to $74.6 million for the previous week, making for a 199 percent increase.
This jackpot started as a $40 million prize on Oct. 6, and is the result of 15 draws without a jackpot winner. The last Powerball jackpot-winning ticket was sold in the state of Delaware for the drawing held on Oct. 3. To date, the biggest Powerball jackpot was a $365 million prize won in Nebraska in 2006. Powerball is a multistate game and is sold in 44 jurisdictions. Powerball began in 1992, with Texas joining the game in 2010.
Powerball players win the jackpot by correctly matching five numbers from a field of 59, plus the Powerball number from a field of 35. The second-tier prize, awarded for matching all five numbers, but not the Powerball number is $1 million. Players can increase their second-tier prize to $2 million if they purchase the $1 add-on feature Power Play® with their ticket. Odds of winning the jackpot prize are one in 175,223,510, and overall odds of winning any prize are one in 32.
About the Texas Lottery
Beginning with the first ticket sold in 1992, the Texas Lottery has generated more than $20 billion in revenue for the state and distributed $39 billion in prizes to lottery players. Since 1997, the Texas Lottery has contributed more than $14 billion to the Foundation School Fund, which supports public education in Texas. As authorized by the Texas Legislature, certain Texas Lottery revenues benefit state programs including the Fund for Veterans’ Assistance.
Celebrating its 20th anniversary this year, the Texas Lottery provides several entertaining games for lottery players including Powerball, Mega Millions, Lotto Texas®, All or Nothing™, Texas Two Step®, Pick 3™, Daily 4™, Cash Five® and scratch-offs. For more information visit us on Facebook<http://www.facebook.com/TexasLottery>, Twitter<https://twitter.com/TexasLottery>, YouTube<http://www.youtube.com/user/thetexaslottery?feature=results_main> or at www.txlottery.orghttp://www.txlottery.org/export/sites/lottery/index.html .