Powerball Swells to Third Largest Jackpot
DES MOINES, Iowa (AP) — The Powerball jackpot has ballooned to $360 million in a matter of weeks, a jump that's propelled it to be the third largest Powerball jackpot and the seventh largest jackpot in history.
Lottery officials say the "cross-selling" of Powerball and Mega Millions tickets, as well as a game redesign in 2012, boosted jackpots and increased the odds of winning some kind of prize. A Lottery spokeswoman says large jackpots are "the new normal," and she expects them to keep surpassing all-time jackpot records set years ago.
The last major win came when a New Jersey man won a $338.3 million jackpot on March 23. It is considered the fourth largest Powerball jackpot in history. The latest drawing is scheduled Wednesday night. It has a $229.2 million cash value.