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Powerball jackpot soars -- yet again

DES MOINES, Iowa -- The world's largest lottery jackpot has grown to $1.5 billion because of continuing strong Powerball ticket sales.

Lottery officials increased their estimate of the huge jackpot for the second day in a row Tuesday because of immense interest in the prize.

Record-setting Powerball jackpot nears $1.5 billion

The record-breaking Powerball jackpot could grow yet more before Wednesday's drawing if ticket sales continue to exceed expectations. Officials reassess the jackpot estimate daily.

No one matched all six Powerball numbers Saturday night, leading to the enormous prize.

The odds of matching all six numbers to win the jackpot are one in 292.2 million.

The $1.5 billion prize would be paid in annual payments over 29 years. Or the winner could opt for a lump-sum payment of $930 million.

Whoever wins will have to pay 39.6 percent of the prize in federal income taxes, and any state taxes. Lottery officials expect at least 80 percent of the 292.2 million number combinations will be purchased before Wednesday's drawing. That increases the chances - but doesn't guarantee - that someone will win the jackpot.

Even NHL superstar Alex Ovechkin couldn't resist buying a ticket.

Fresh off scoring his 500th NHL goal, a photo appeared on social media of Ovechkin buying Powerball tickets in Virginia with his father.

Ovechkin, who plans to get more tickets, says, "It was funny. Who's going to take a picture of me? It's crazy. People are crazy."

Ovechkin says he knows the odds are small.

He says, "If I win, I'll let you guys know."

The 30-year-old Ovechkin is in the eighth season of a $124 million, 13-year contract. The lump sum Powerball payout would be $930 million.

Canadians rush to U.S. for Powerball tickets

Excitement is growing internationally, with thousands of Canadians pouring into the U.S. to try their luck, reports CBS News correspondent DeMarco Morgan.

While millions of Americans think they're lucky enough to beat the unimaginable odds, so too do Canadians.

"I'm going to take my chances just like everyone else," said one player, Shari Ann, who drove nearly two hours from her Ontario home for a chance to become the world's next billionaire. "We come here and drop a lot of money on a regular basis. We shop in the U.S. a lot. So we give to you. It's time to give back!"

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