Powerball Ticket Prices to Double Beginning Jan. 15

January 3, 2012 Updated Jan 3, 2012 at 12:35 PM EDT

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Powerball Ticket Prices to Double Beginning Jan. 15

January 3, 2012 Updated Jan 3, 2012 at 12:35 PM EDT

If you play Powerball, prepare to pay more for tickets beginning later this month.

According to CNN.com, the organization that administers the popular multi-state lottery game says ticket prices will double -- from $1 to $2 -- beginning Jan. 15.

With the price increase, jackpots will start higher and increase faster, and the average jackpot is expected to be approximately $255 million, according to the CNN.com report

Read the CNN.com story HERE.