Powerball fever grows as jackpot balloons to $550M - My29 WFTC Minneapolis-St. Paul

Powerball fever grows as jackpot balloons to $550M

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SOUTHFIELD, Mich. (WJBK) -- 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.

The Huffington Post reports the odds of winning are an estimated 1 and 175 million. The odds are better of you picking a perfect NCAA bracket (1:13,460,000) or becoming president of the United States (1:10,000,000).

"Nothing wrong with dreaming," said one customer at a Southfield gas station who bought a ticket.

The numbers will be drawn around 11 p.m. ET.

- The Associated Press contributed to this report

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