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Yahoo Finance Plus Powerball Jackpot Hits $925M Ahead of Saturday’s Drawing
Powerball has had 30 consecutive drawings without a grand prize winner.
There was no Powerball lottery grand prize winner on Wednesday night, so the jackpot has reached an estimated $925 million ahead of Saturday’s, September 30, drawing.
The lump sum cash payment option for Saturday’s drawing, which is scheduled to take place at 10:59 pm ET, is estimated to be about $432.4 million after taxes, meaning there's a hefty Powerball jackpot tax bill for the winner.
The numbers drawn on Wednesday were 1, 7, 46, 47, and 63. The red Powerball was 7. Four tickets — one in California, one in Kansas, one in Maryland, and one in New York — matched all five white balls for the Match 5 prize of $1 million.
This was the 30th consecutive drawing without a grand prize winner. July 19 was the last time a grand prize winner was drawn for the $1.08 billion jackpot.
According to Powerball, the current odds of winning the Jackpot stands at one in 292.2 million.
How Powerball works
The drawings are held on Mondays, Wednesdays and Saturdays. To win the jackpot, players must match all six numbers. The five white balls are numbered between one and 69 and the one red Powerball is numbered between one and 26.
Powerball tickets are sold for $2 each, and the game is offered in 45 states, Washington D.C., Puerto Rico and the U.S. Virgin Islands. For an additional $1 per play, the Power Play feature can multiply non-jackpot prizes by 2, 3, 4, 5 or 10 times.
A portion of each ticket sold during the jackpot run is slated for public programs and services in communities, Powerball said. Powerball holds the current world record for the largest national lottery jackpot at $2.04 billion, it added.
Jackpot winners can choose one of two options when receiving their prize. They can take the payout in a lump sum, the most common choice, or they can opt for an annuity. The annuity is paid in 30 graduated payments over 29 years.
Mega Millions jackpot rises to $267 million
Despite the attention that the Powerball jackpot is receiving now, the Mega Millions jackpot is currently sitting at about $267 million, with the next drawing on September 29.
