Powerball jackpot jumps to $500 million for Wednesday's drawing - KPTV - FOX 12

Powerball jackpot jumps to $500 million for Wednesday's drawing

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PORTLAND, OR (KPTV/AP) -

The Powerball jackpot jumped to $500 million Wednesday, making it one of the largest Powerball prizes of all time.

Lottery officials said the jackpot estimate increased from $450 million due to strong sales before Wednesday night's drawing.

A winner of Wednesday's jackpot could claim the pre-tax $500 million prize through an annuity over 29 years or in a single pre-tax payout of $306 million.

According to the Oregon Lottery, Wednesday's jackpot is the largest since February 2015 when three people in North Carolina, Puerto Rico and Texas split $564 million.

The largest Powerball jackpot of all time was $590 million in May 2013, won by a person in Florida.

In 2005, a Powerball player in Oregon won a $340 million jackpot.

Powerball is played in 44 states, the District of Columbia, the U.S. Virgin Islands and Puerto Rico.

If a store in Oregon sells the winning ticket, that business would receive a $100,000 bonus from the state, according to an Oregon Lottery spokesman. 

Related: Tales of lottery winners hitting the jackpot in Oregon

Copyright 2015 KPTV-KPDX Broadcasting Corporation. All rights reserved. The Associated Press contributed to this story. 

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