August 14, 2012 – Due to high sales, the Multi-State Lottery Association has increased the estimated jackpot amount for the Wednesday, August 15 drawing to $320 million or $213.3 million with the cash option selected. Because of the high jackpot, the Nebraska Lottery reminds customers to play responsibly.
The Powerball jackpot starts at $40 million and continues to grow by at least $10 million each drawing until it is won. There have been 14 consecutive Powerball drawings since June 27 without a jackpot winner. This run has grown the estimated jackpot for the Wednesday, August 15 drawing to $305 million or $203.3 million with the cash option selected. If won, this will be the 4th 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: 30 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 29-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 website, nelottery.com.
Because of the high Powerball jackpot, the Nebraska Lottery encourages customers to play within their means. “It’s important for Nebraska Lottery players to remember that no matter how large the jackpot is, the odds of winning the Powerball jackpot are 1 in 175 million,” said Nebraska Lottery Director Jim Haynes. “Your odds of winning remain the same, regardless of how many tickets are purchased 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 800-GAMBLER.