Powerball Jackpot at $222 Million

Posted on May 27th, 2009

The Powerball jackpot is fast approaching the $225 million Mega Millions jackpot which was won by players from California, Ohio, and Virginia. Since no one hatched all six numbers in the last Powerball drawing the jackpot will be around $222 million dollars with a $113 million cash option.

May 27th’s jackpot will be the largest Powerball jackpot in more than a year. The last Powerball jackpot of this size was the $275 Million dollar jackpot on March 15, 2008. Although no one won last Saturday’s Powerball jackpot 1,195,213 lottery players won $12,069,724 in prizes without hitting the Powerball jackpot.

Since April 11th the Powerball jackpot rolled over 13 times creating the largest lottery jackpot in the nation today. Presently the odds of winning are 1in195 million. If one person hits the jackpot they will receive payments over 30 years or can select a cash option of $113 million. Powerball is a large jackpot and a cash game and tickets only cost a dollar. Powerball is played in 30 states, Washington DC, and the US Virgin Islands.
All profits from the multi state game are kept by the ticket selling state. The participating states share the costs of operating the Powerball game based on percentage of total sales. The lottery association conducts the Powerball drawings, is responsible for game development and research, game administration, and the purchase of government securities to fund annualized prizes.

Powerball ticket sales have been strong due to the large jackpot. Tonight’s (May, 27, 2009) drawing will take place at 10:59 EST.

Update; many states now allow the cross sales of both Powerball and Mega Millions. There is also talk of a national lottery similar to the UK national lottery. Most states are expected to begin selling both mega jackpot lottery tickets in 2010. States that have implemented cross sales report increased ticket sales. Cash strapped states are trying various ideas to increase sales such as the addition of more big money games and the introduction of sports team themed games.

In addition several states may allow the sale of online lottery tickets. The ability to purchase lottery tickets online has been touted as a way to rapidly increase ticket sales. Many lottery experts believe that players who can make an online lottery purchase will spend more money on online lottery tickets. For rural residents the ability to purchase online lottery tickets could add many more players to state lotteries. Surveys show that most lottery players would be quick to take advantage of the ability to purchase online lottery tickets.