Record Powerball jackpot reaches $900 million hours before drawing

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Since Nov. 4, the Powerball jackpot has grown from its $40 million starting point when no one won.

According to ABC News, the Powerball could grow from $900 million to $1.3 billion for the next Powerball drawing after Saturday's drawing.

Gary Grief, executive director of the Texas Lottery and president of the multistate Powerball Lottery, says officials tallied $352 million in ticket sales on Friday.

A woman purchases Powerball lottery tickets from a newsstand Wednesday, Jan. 6, 2016, in Philadelphia. In Maryland, sales of the game with two weekly drawings dropped 15 percent in the last state fiscal year. "We're very concerned about people playing responsibly and not overspending", he said. The retailer selling a single winning ticket would receive a $1 million bonus. The Match 5 prize with the Power Play option is worth $2 million. However, as lottery officials often note, you have no chance of winning if you don't buy a ticket. If no one claims the lucky number combination for tonight's drawing, the pot will jump to well over $1 billion for next Wednesday's drawing, according to ABC. Previously, many had to wait to collect their prizes due to the state's budget impasse.

"Take a deep breath and sit down", he told KYW Newsradio.

Which states participate in Powerball? That puts the estimated cash value at $558 million.

While the first chunk of prize money will be charged the current rate, future tax bills may go up or down (probably up) depending on how lawmakers change the tax code.

A few blocks away, Sohan Singh, manager of the 7-Eleven at 201 W. Fillmore Street said big jackpots are good for business. PAYMENT OPTIONS The prize is based on an annuity, which would pay out the money over 29 years.

The drawing was due to be held at 10.59pm ET.

On Thursday, the prize climbed to $675 million, zooming past the record of a $656 million Mega Millions jackpot won in March 2012. Matching at least three white ball numbers will also net prizes. "I'm going insane! I can't take it anymore!", she said, burying her face in her hands, but giggling uncontrollably as she turned to a lineup of customers.

So far, more than $1 billion in tickets have been sold nationwide, lottery officials said. Hopefully he would give her some money to do some repairs on her Jetta, she added. A much-cited Duke University study found that low-income households spend more of their income on lottery games than higher-income households. Read on for four important things you should know about January 9's Powerball event!

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