Powerball jackpot hits a record $500 million

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It's time to buy a lottery ticket -- Powerball has reached a record $500 million jackpot, and the money is only expected to grow before Wednesday's (Nov. 28) drawing.

There were no winners of the main prize in the last Powerball drawing, held on Saturday (Nov. 24). That means that the maximum possible prize will continue to grow -- based on ticket sales -- until a winner is found.

Powerball, run by the Multi-State Lottery Association (which runs the drawing), allows people in 42 states plus the District of Columbia and the U.S. Virgin Islands to pool money for a massive prize. Players either choose six numbers or allow a computer to find some numbers for them. If all six match, you win. It is also possible to win smaller prizes for fewer matches.

The Wednesday drawing will be held at 10:59pm ET. You can find the winning numbers on the Powerball website, in local newscasts and on YouTube.

Only 8 states -- Alaska, Alabama, California, Hawaii, Mississippi, Nevada, Utah and Wyoming -- do not participate in the Powerball lottery.

Sure, the odds are low -- about 1 in 175,000,000. This means, according to ABC News, that you are three times more likely to be killed by a coconut falling from a tree. But someone has to win it, right?

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