Powerball jackpot at $550 million

Nov. 28, 2012 at 1:07 PM

CHICAGO, Nov. 28 (UPI) -- Lottery dreams helped boost the jackpot for Wednesday's Powerball drawing to a record $550 million, but the odds of winning remain 1-in-175 million.

The grand prize was increased from $500 million to $550 million as the pace of sales increased before the drawing. Powerball is played in 42 states, the District of Columbia and the U.S. Virgin Islands.

The new jackpot would be worth $360.2 million cash to a single winner, the lottery said on its website.

"Typically, 60 percent of sales occur the last day, "Chuck Strutt, executive director of the Multi-State Lottery Association told USA Today.

He estimated ticket sales would average 6.3 million a hour before the drawing at 10:59 p.m. EST.

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