Powerball Jackpot Climbs to $550 Million

If you thought $350 million was an impressive lottery prize, how about $550 million? 

With no winner in , the jackpot has soared even higher for the Saturday, May 18 drawing. Initially set at $475 million, lottery officials announced Thursday afternoon the jackpot had been increased to $550 million -- the second highest jackpot in Powerball history and the third highest in U.S. history.

According to an Associated Press article posted by Fox News, lottery officials expect jackpot totals of this size to continue to climb in shorter amounts of time following a game redesign in January 2012 that increased the odds of winning some kind of prize but also lowered the possible number combinations to win the Powerball.

Powerball tickets for each game are $2 and there’s a 1 in 175.2 million chance that any ticket will win the grand prize. If you want to take that chance, purchase your tickets by 10 p.m. Saturday to play. 

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