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Powerball jackpot reaches $500 million
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ottery officials on Tuesday said the Powerball jackpot had reached a record $500 million, prompting a frenzy of last-minute purchases before the results are drawn on Wednesday night. The gigantic pot has been largely driven by a change in ticket price — from $1 to $2 — that encourages the haul to quickly accumulate. While a record for Powerball, the jackpot isn't even the biggest of 2012: The Mega Millions lottery reached $656 million in March, a prize split between three winners.

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