Wednesday’s Powerball drawing will be good for a $1 billion jackpot.
If no one wins, the prize value will surely skyrocket before lottery officials draw another set of ping-pong balls Saturday night. Odds of hitting the jackpot are one in 292,201,338, according to Powerball officials.
Winners have the choice to take home home a lump sum or accept annual payments over the course of 30 years. Players can choose their ticket numbers or allow a machine to select a random combination. Powerball as we know it began in 1992 with 15 consolidated lotteries amounting to larger cash winnings. Only six U.S. lotteries have paid more than the current Powerball prize in play.
The largest Powerball payout happened in November when a Southern California man guessed correctly that the drawing’s white balls would bear the numbers 10, 33, 41, 47, 56 and the red Powerball would show the number ten. That jackpot topped $2 billion before taxes. Howard Beach, Queens lottery player Johnnie Taylor became the state’s biggest Mega Millions winner last month when he claimed a $476 million prize in June. The 71-year-old former handyman opted for a payout of $157,288,402 after state and federal withholdings.
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