Drawing set for a Powerball jackpot that has ballooned to $1.8 billion
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DES MOINES, Iowa (AP) — A Powerball drawing will be held Saturday for what would be second highest lottery jackpot on record: an estimated $1.8 billion.
The prize ballooned after the lottery held more than 40 consecutive drawings without anyone matching all of the game’s six numbers. Whenever a drawing fails to get a winner, the lottery rolls over the winnings.
The game’s terrible odds of 1 in 292.2 million are designed to generate big jackpots and ever-larger prizes. There are three drawings each week.
The largest jackpot on record, $2.04 billion, was drawn in 2022 and went to a California ticket buyer.
No one has won the grand prize since May 31.
The $1.8 billion jackpot is for a winner who opts to receive 30 payments over 29 years through an annuity. Winners almost always choose the game’s cash option, which for this drawing would be an estimated $826.4 million.
Powerball tickets cost $2, and the game is offered in 45 states plus Washington, D.C., Puerto Rico and the U.S. Virgin Islands.