TODAY   |  May 16, 2013

Powerball jackpot grows to $475 million

With no Powerball winner drawn last night, the jackpot is now the third largest in history. The next drawing will be held on Saturday. NBC’s Mara Schiavocampo reports.

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>>> bad news if you dreamed of waking up $360 million richer this morning, there was no power ball winner last night. you know what that means? the jackpot and lottery fever are now growing. more on this. mara, good morning to you.

>> good morning, everyone. well, the power ball jackpot soars to at least $475 million for saturday's drawing. the odds of winning are 1 in 175 million, but lots of folks are still hoping lady luck is on their side.

>> big money tonight --

>> unfortunately for countless lottery hopefuls --

>> remember, match this number and you're always a winner. tonight it is 32 --

>> no one had power ball 's winning numbers wednesday night. the $363 million grand prize would have been the seventh largest payout in history. but now, that jackpot has swelled to $475 million and disappointment is giving way to excitement about another shot at the big prize.

>> this is an exciting prospect to imagine it just for $2 you could win something like this.

>> this current jackpot has been growing since march. power ball prizes are actually getting bigger faster since the price of a single ticket doubled to $2 a year ago. bigger prizes equals bigger dreams.

>> i would go to a spa for a month.

>> of course. i'd show up for work.

>> i'm going to buy my own island and start my own country.

>> well, winners have between 90 days and a full year in some states to come forward. lotto reps say give yourself plenty of time to decide if you want your payout in 30 years or faster in the large lump sum . i personally would go for the lump sum .

>> definitely.

>> i love that guy who said, would you go to work? yeah, i'd show up to work to let them know i quit.

>> i like the guy who said i'll start my own