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Powerball jackpot at $425 million

Powerball jackpot at $425 million

(Cleveland) - Powerball ticket sales are picking up in advance of Wednesday's drawing, where a jackpot of close to $425 million is on the line.

Since no one hit the jackpot Saturday. The jackpot is the third-largest ever for the Powerball and the fourth-largest of any lottery.

It was less than three months ago that a Florida woman claimed the biggest Powerball prize of all time--a nearly $591 million jackpot. A lump-sum payment left the 84-year old with more than $278 million after taxes.

The Tampa Bay Times reports she spent $1.1 million of her winnings on a 6,300-square-foot, five-bedroom home in a gated golf course community in southeast Jacksonville, FL.

Powerball tickets doubled in price to $2 in January 2012 as part of a plan to help jackpot’s grow bigger and faster. And once those jackpots reach astronomical levels, ticket sales skyrocket, causing them to reach even higher levels in a matter of days.

If Wednesday’s jackpot doesn't top $400 million, a single winner choosing the cash option would collect $230.3 million before taxes.

No matter how many people play the game, the odds of matching all six numbers remains 1 in 175.2 million.

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