Powerball jackpot reaches $400 million - KYTX CBS 19 Tyler Longview News Weather Sports

Powerball jackpot reaches $400 million

Posted:
(WGN/CNN Newsource) (WGN/CNN Newsource)
  • CBS19.tv Web ExclusivesMore>>

  • Web Exclusive: Technology helping house calls make a comeback

    Web Exclusive: Technology helping house calls make a comeback

    Friday, August 1 2014 9:44 AM EDT2014-08-01 13:44:03 GMT
    You know the feeling when you or your child gets sick, it can be really tough to get out of bed and drag yourself to the doctor's office.  In some places now technology is bringing the doctor to you.More >>
    You know the feeling when you or your child gets sick, it can be really tough to get out of bed and drag yourself to the doctor's office.  In some places now technology is bringing the doctor to you.More >>
  • Moms-to-be learn how to be Fit for Two

    Moms-to-be learn how to be Fit for Two

    Thursday, July 31 2014 11:54 PM EDT2014-08-01 03:54:43 GMT
    Exercising during pregnancy may have more benefits than you realize. Research finds it can make labor and delivery easier on your body. There are also benefits for baby. As little as 20 minutes of moderate exercise, three times per week enhances the newborn child's brain development.  In this week's Fit City, find out how ETMC is trying to create strong moms and healthy babies with one of its programs. More >>
    Exercising during pregnancy may have more benefits than you realize. Research finds it can make labor and delivery easier on your body. There are also benefits for baby. As little as 20 minutes of moderate exercise, three times per week enhances the newborn child's brain development.  In this week's Fit City, find out how ETMC is trying to create strong moms and healthy babies with one of its programs. More >>
  • Web Exclusive: Rob Lowe is getting "sharky" for a TV network

    Web Exclusive: Rob Lowe is getting "sharky" for a TV network

    Thursday, July 31 2014 9:45 AM EDT2014-07-31 13:45:11 GMT
    Actor Rob Lowe is lending his comedic talents to the Discovery channel.  In a new promo for Shark Week he throws up chum while riding two sharks.More >>
    Actor Rob Lowe is lending his comedic talents to the Discovery channel.  In a new promo for Shark Week he throws up chum while riding two sharks.More >>

By Aaron Smith

NEW YORK (CNNMoney) -- The Powerball jackpot has ballooned to a whopping $400 million, the third-highest amount ever.

There were no jackpot winners on Saturday, which means the pot rolls over to its next scheduled drawing on Wednesday.

Every time it rolls over, it expands by a minimum of $10 million. And even though no one has hit the jackpot, this particular game has dolled out some smaller prizes.

The $400 million jackpot is equal to $230.3 million in cash, if the winner opts for the cash payout, which most do. They also have the option of receiving the jackpot in annuity payments, which no one has selected in the last several years.

The record Powerball jackpot was $590.5 million, won in May by an octogenarian of modest means in Florida. The second-largest jackpot of $587 million was split by two players -- one from Arizona and one from Missouri -- in November 2012.

In order to win the jackpot, the winner has to draw six numbers that match all six numbers randomly selected by the lottery system.

But players can also win second prize by matching certain combinations of five numbers. This prize is $1 million or $10,000, depending on whether the Powerball is included in those five numbers. If players match four numbers, they win $100.

Christy Calicchia, New York spokeswoman for the state-run Powerball system, said eight players have already won $1 million each from the current game.

She said there's also a million dollar winner from last year who hasn't collected.

"We have an outstanding one million dollar Powerball ticket right now that is about to expire," she said.

The unwitting millionaire bought his or her ticket in Westchester County, N.Y., on Aug. 25, 2012. The ticket expires after one year.

This is a common situation, since many gamblers focus exclusively on the jackpot without paying attention to smaller winnings. As of last year, unclaimed winnings totaled $800 million.

Powerball doubled its ticket price to $2 in January of last year. Calicchia said this was to produce a bigger jackpot, to increase the odds of winning the jackpot (to 1 in 175.2 million from 1 in 195.2 million) and to produce more million dollar winners. Jackpots now start at $40 million, instead of $20 million.

The-CNN-Wire
™ & © 2013 Cable News Network, Inc., a Time Warner Company. All rights reserved.

Powered by WorldNow

CBS19, MYTX & KCEB
2211 ESE Loop 323
Tyler, TX 75701
Phone (903) 581-2211
Fax (903) 581-5769

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KYTX. All Rights Reserved. Users of this site agree to the Terms of Service, Privacy Notice/Your California Privacy Rights, and Ad Choices.