Powerball jackpot soars to $550M - FOX Carolina 21

Powerball jackpot soars to $550M

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A stack of Powerball tickets are displayed a lottery retailer. (File/FOX Carolina) A stack of Powerball tickets are displayed a lottery retailer. (File/FOX Carolina)

The Powerball jackpot for Wednesday's drawing now stands at $550 million - the biggest jackpot in the game's history.

The jackpot was increased by $75 million from $425 million on Tuesday then rose from $500 million to $550 million on Wednesday. The increase is an indication of excitement across the county, according to lottery officials.

The record-high top prize will likely mean multiple winners, according to South Carolina Education Lottery Executive Director Paula Harper Bethea.

"With such a large amount of money at stake, people are more apt to join with office groups, social clubs, family or friends to purchase tickets together," said Bethea. "While having a single winner is great, people also like to see a group share the winnings."

However, the odds of winning the jackpot are steep - 1 in 175,223,510.

The new top prize trounces the previous record-high jackpot of $365 million, which was won in 2006.

The drawing can be seen live on FOX Carolina at 10:59 p.m.

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