Powerball jackpot boosted again to $550M

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.

Lottery officials say tickets are selling at a rate of 130,000 a minute nationwide. That's about six times the volume from a week ago. So, the jackpot could climb even higher before tonight's drawing.

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

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

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.

If you win the jackpot, what could your winnings get you?

You could buy 125 million gallons of milk or 152 million jars of peanut butter.

If you're less practical you'd have enough to buy the world's most expensive diamond or the world's most expensive car.

If you love sports, there are 13 MLB teams worth less than 500 million dollars.

The NBA has only three teams worth more than the jackpot.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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