Kokomo Tribune; Kokomo, Indiana

Local News

November 23, 2012

Powerball jackpot builds to $325 million for Saturday

Des Moines, Iowa — The Powerball jackpot for Saturday's drawing stands at $325 million — the fourth-largest sum in the game's history.

The record-breaking jackpots aren't likely to stop anytime soon.

Since Powerball tickets doubled in price to $2 in January, the number of tickets sold has decreased, but the sales revenue has made up for it, increasing by about 35 percent, said Norm Lingle, chairman of the Powerball board of directors.

And as the price went up, so did the pots of cash that entice thousands across the country to play.

"Christmas is coming and $325 million would come in handy," said Tim Abel, 63, who was buying a Powerball ticket at New York's Port Authority Bus Terminal. The Broadway stagehand said he usually plays whenever the jackpot goes over $100 million.

Iowa Lottery spokeswoman Mary Neubauer said of the price increase: "... we believed the jackpots would grow fast and grow large because of the change in the game, and it does appear that it is working."

Recent Powerball jackpot winners include an Iowa couple that won a whopping $202 million on Sept. 26. A week later, a Delaware resident picked all six numbers for a $50 million payday.

A single winner on Saturday choosing a cash payout would get nearly $213 million before paying state and federal taxes.

 

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