PHOENIX (May 16, 2012) –The Powerball jackpot has been increased from $475 million to $550 million for the draw on Saturday, May 18. The cash option would be $350.1 million, before taxes. This is the second largest jackpot and cash option in Powerball history.
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.
“This is an exciting time for the Arizona Lottery, since the Powerball jackpot is offering the second largest jackpot in the game’s history,” said Karen Bach, director of budget, products and communications for the Arizona Lottery. “There is a possibility the estimated jackpot for Saturday’s draw will increase again tomorrow. If it does, we may be looking at a record-breaking jackpot.”
The $2 Powerball game, launched in January 2012, 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 began, 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 ArizonaLottery.com.
Mega Millions also has a high jackpot of $190 million for the draw on Friday, 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™.