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Powerball jackpot hits $325 million

Nov. 23, 2012 at 3:47 PM

URBANDALE, Iowa, Nov. 23 (UPI) -- The prize for Saturday's draw in the multi-state lottery game Powerball has increased to $325 million, officials said.

The jackpot Saturday, in which contestants pick six numbers in hope of matching chosen Powerball numbers, crossed the $300 million threshold for the third time this year because there were no winners Wednesday game. The odds of winning are 1-in-175,223,510.

A $360 million payout in February 2006 was the largest Powerball prize ever offered, the indexing website Lottery Universe said.

While the prize is listed at $325 million, the owner of a winning ticket could opt for a one-time cash payout of $212.8 million, a notice the Powerball website noted.

The Powerball contest is offered in 21 participating states and operated by the Multi-State Lottery Association, which has headquarters in Urbandale, Iowa.

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