Powerball’s terrible odds of 1 in 292.2 million are designed to generate big jackpots, with prizes becoming ever larger as they repeatedly roll over when no one wins
The Powerball jackpot has topped a whopping $1billion after no winner was found on Saturday night, according to lottery officials.
The jackpot for the next drawing Monday night remains the world’s ninth-largest lottery prize of all time. The $1.04 billion jackpot is for a sole winner who opts for payment through an annuity, doled out over 30 years. Winners almost always take the cash option, which for Monday’s drawing would be an estimated $478.2 million. Those winnings would be subject to federal taxes, while many states also tax lottery prizes.
The jackpot has grown so large because there have been 30 consecutive drawings without a big winner, dating back to July 19. Powerball’s terrible odds of 1 in 292.2 million are designed to generate big jackpots, with prizes becoming ever larger as they repeatedly roll over when no one wins. The largest jackpot was a $2.04 billion Powerball prize hit by a player in California in November 2022. In most states, a Powerball ticket costs $2 and players can select their own numbers or leave that task to a computer.Powerball is played in 45 states as well as Washington, D.C., Puerto Rico, and the U.S. Virgin Islands.
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