Powerball Jackpot Hits Record High; Nebraska Lottery Encourages Players to Play Responsibly
August 23, 2007 – A string of drawings without a jackpot winner have grown the estimated Powerball jackpot to its highest level since February 2006.
The Powerball jackpot starts at $15 million and continues to grow by at least $5 million each drawing until it is won. There have been 16 consecutive Powerball drawings since June 30, 2007 without a jackpot winner. This run has grown the estimated jackpot for the Saturday, August 25 drawing to $300 million or $140.3 million with the cash option selected. If won, this will be the fourth largest jackpot in Powerball history.
Nine jackpots ranging from $2.5 million to $365 million have been won in Nebraska since the Nebraska Lottery began offering Powerball in July of 1994. The highest recorded Powerball jackpot was in February 2006 when a group of eight coworkers at the ConAgra Foods ham and corned beef plant in Lincoln split a $365 million jackpot.
Powerball jackpot winners have two options for collecting their payment: 29 annuity payments or one cash payment at present value. The annuity option provides annual payments that increase each year. The present cash value is less than the advertised jackpot, which is based on the 30-year annuity option. Winning Powerball numbers are announced every Wednesday and Saturday at 9:59 p.m. Central Time and posted at the Nebraska Lottery web site, www.nelottery.com.
Play Responsibly
Because of the high Powerball jackpot, the Nebraska Lottery encourages customers to play within their means. The odds of winning the Powerball jackpot are the same, 1 in 146 million, regardless of how many tickets a person buys, or how many people play. If you or someone you know has a problem with compulsive gambling please call the Nebraska Compulsive Gambling Help Line toll free at 1-800-522-4700.
Published on 08/20/2007