Half a billion! Powerball® jackpot estimate raised to $500 million
INDIANAPOLIS - As of noon today, Multi-State Lottery Association (MUSL) officials raised Wednesday's estimated Powerball jackpot from $425 million to $500 million due to robust sales nationwide.
$500 million is the biggest Powerball jackpot ever and the second-largest lottery jackpot ever available in North America. The cash option is an amazing $327 million.
The mission of the Hoosier Lottery is to maximize net income for the state in a socially-responsible manner. In fiscal year 2012, the Hoosier Lottery generated $211 million in surplus revenue which was used to significantly reduce the motor vehicle excise tax for all Hoosier drivers and also supported the pension funds for retired Indiana teachers, police and firefighters. Player prizes for the fiscal year totaled $533 million and $60 million was earned by Indiana retailers on the sale of Hoosier Lottery products.
Since its inception in 1989, the Hoosier Lottery has produced more than $4 billion for the citizens of Indiana, $1 billion in commissions and bonuses for participating Indiana retailers, and has paid out more than $8.8 billion in player prizes.
The Hoosier Lottery reminds all players to play responsibly.