Powerball Jackpot Reaches Record $550 Million - KTVN Channel 2 - Reno Tahoe News Weather, Video -

Powerball Jackpot Reaches Record $550 Million

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DES MOINES, Iowa (AP) -- The record Powerball jackpot just keeps rising. It now stands at $550 million after officials say brisk sales keep driving up the payout amount.  

The jackpot was boosted to $500 million on Tuesday and raised again Wednesday morning to $550 million. 

A winner taking the cash option would get $360.2 million before taxes. 

The numbers are an estimate and could be increased again as the drawing nears. 

Powerball officials say they now believe there is a 75 percent chance that the winning combination of numbers will be drawn Wednesday night.

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