Lottery officials revised their estimate that tonight's Powerball drawing payout will now reach $500 million after record-setting sales in recent days. The revised lump sum cash payout for tonight's Powerball winning jackpot is estimated at $327.4 million.
UPDATE: Tonight's Powerball Drawing Surges To $550 Million
When is tonight's Powerball drawing? The half-billion dollar Powerball drawing will take place at 10:59 p.m. Eastern Time / 9:59 p.m. Central Time / 7:59 p.m. Pacific Time.
When no one won last Saturday night's November 24, 2012 POWERBALL jackpot, the initial estimate for the Wednesday November 28, 2012 jackpot was $425 million ($278.3 million cash value).
The most recent Powerball winning numbers can be viewed here.
On Saturday, there was one power play winner in New York who matched 5 of 5 numbers for $2 million. There were also winners from 8 states who matched 5 of 5 numbers to win $1 million. Those winners were from Arizona, Florida, New Jersey, New York, Oregon, Texas, Virginia, and Wisconsin.
The overall odds of winning the Powerball jackpot are 1 in 175,223,510.
Since POWERBALL launched in Florida in January 2009, Florida has had the strongest POWERBALL and Power Play sales of any U.S. lottery, exceeding more than $1.4 billion and yielding $557 million in education funding to date. Additionally, the Florida Lottery has had the most winners in the nation, winning more than $570 million in prizes, including four jackpot winners.
Florida Lottery retailers who sell a jackpot winning ticket for this drawing will receive a bonus incentive of $80,000. If there is a jackpot winning ticket sold in Florida and it includes Power Play, the retailer will receive an extra $20,000. If there is a 5 of 5 winner with Power Play, the retailer will receive $5,000.
POWERBALL jackpot prizes are paid in 30 annual installments or as a one-time, lump-sum payment. Jackpot prizes must be claimed within the first 60 days after the winning draw to receive the cash option of $203.3 million. Winners have 180 days from the applicable drawing to claim their prize.