Powerball jackpot grows to $422 million, eighth largest ever
(Reuters) - The Powerball jackpot grew to $422 million before an 11 p.m. EDT drawing on Wednesday, making it the eighth largest in the game's history and the 11th-biggest lottery prize ever in the United States.
The jackpot amount has now rolled over 22 times since it was reset to its starting sum of $40 million for a drawing on May 11, lottery officials said.
The Powerball game is based on lottery tickets sold for $2 apiece. It is played in 44 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands.
A winning ticket will be worth an estimated payout of $422 million if spread over 30 years, or the winner may opt for a lump-sum payment of $291.8 million before federal taxes.
The Wednesday draw comes about 2-1/2 months after a $429.6 million winning Powerball ticket was sold in New Jersey and two weeks after a $540 million Mega Millions lottery jackpot was clinched in Indiana.
The largest all-time lottery prize offered in North America was a Powerball jackpot worth nearly $1.6 billion for winning tickets sold in California, Tennessee and Florida in January of this year.
(This story has been refiled to add dollar sign in fourth paragraph)
(Reporting by Brendan O'Brien in Milwaukee; Editing by Tom Heneghan)
