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Powerball Jackpot At $550 Million

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UNDATED (WHBL) - The Powerball jackpot was jacked up again this afternoon. It’s now at 550-million-dollars for tonight’s drawing. You until have nine o’clock to buy your tickets, and the drawing will be at 9:59. If the prize does not go any higher, the cash option will be 360-million dollars for a single winner who takes the whole prize now instead of in 30 annual installments. The jackpot is a record for Powerball, and it’s the world’s second-largest lottery prize behind the 636-million-dollar Mega Millions jackpot shared by three groups of winners in March. Powerball officials say there’s a 60-percent chance that somebody will win tonight – just because more people are choosing more different number combinations. But if you live in a home that you own in Wisconsin, you’ll win no matter what happens. That’s because 40-percent of all Powerball revenues in the Badger State go to property tax relief – but only to owner-occupied homes, and not vacation homes owned by out-of-staters. Those who qualify get credits on their December tax bills, based on lottery profits for the last fiscal year. This year’s average credit will be 96-dollars, six-dollars more than last year. The sky-high revenues from the current Powerball frenzy will be reflected on the following year’s tax bills. Lottery officials expect about five-million dollars in tickets to be sold for tonight’s drawing. 

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