• Powerball jackpot rises to $550 million

    Updated:

    DES MOINES, Iowa (AP) — The record Powerball jackpot just keeps rising. It now stands at $550 million after officials say brisk sales keep driving up the payout amount.

    >>Will $500 million make you happy? Let us know by weighing in on our Facebook page!

    The jackpot was boosted to $500 million on Tuesday and raised again Wednesday morning to $550 million.

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    A winner taking the cash option would get $360.2 million before taxes.

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    The numbers are an estimate and could be increased again as the drawing nears.

    Powerball officials say they now believe there is a 75 percent chance that the winning combination of numbers will be drawn Wednesday night.

     

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