Powerball now up to $800 million

Posted at 5:06 AM, Jan 07, 2016
and last updated 2016-01-08 19:24:55-05

Another Powerball drawing has come and gone with no jackpot winner.

Nobody won Wednesday's $500 million prize, so the jackpot has grown to an estimated $800 million, which is more money than anybody has won in a North American lottery.

A winner would have the option of being paid $496 million in cash.

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The deadline for Saturday's drawing is 9:58 p.m.

Hoosiers who feel lucky may have something on their side -- Indiana leads the country in jackpot winners with 38.

Although nobody won the jackpot, tickets worth $50,000 were sold across Indiana in Noblesville, Vincennes, Greenwood, Lowell and Lake Station.

So where does this money go? 

"We have money set aside to pay winners, we haev money to give to retailers that help sell the products thorughout the State of Indiana, and then a good portion goes to the State of Indiana," Hoosier Lottery Executive Director Sarah Taylor said. 

In fiscal year 2013, the Hoosier Lottery distributed closed to $225 million to the state. Close to 75 percent went to the "Build Indiana Fund," which goes toward capital improvement projects in local communities. 

The lottery distributed $30 million to local police and firefighters pensions, and $30 million to the teachers' retirement fund. 

All funds are determined by lawmakers. 


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