Lottery enthusiasts will get another opportunity on Saturday night to try their luck at a staggering $935 million Powerball jackpot. This grand prize has been steadily increasing since the last lucky winner emerged almost three months ago.
For 37 consecutive draws, no one has managed to clinch the top Powerball prize, bringing the current winning drought close to the record of 41 draws without a jackpot winner, a feat achieved twice in 2022 and 2021.
The game's steep odds of 1 in 292.2 million make hitting the jackpot a rare occurrence. By maintaining such challenging odds for the top prizes, the jackpots balloon in size, enticing more players to participate.
The $935 million reward is reserved for a single winner who selects the annuity option, receiving payments spread out over 30 years. Alternatively, winners who prefer a lump sum would pocket $452.3 million. It's important to note that these winnings would be subject to federal taxes, with additional state taxes applicable in many regions.
The chances of securing the Powerball jackpot stand at 1 in 292.2 million.
The occurrence of substantial jackpots has spiked in recent years for both Powerball and Mega Millions following a doubling of ticket prices and a reduction in odds.
Last August, a lucky individual purchased the winning ticket in Neptune, Florida, for a staggering $1.6 billion jackpot, marking the largest win in Mega Millions history and the third-largest in the history of lotteries. Fast forward to February 2023, another winning ticket was sold near Los Angeles, claiming an even more impressive $2.04 billion Powerball jackpot, which stands as the largest jackpot ever won in the lottery's history.
Powerball, a popular lottery game, is played in 45 states across the United States, as well as in Washington, D.C., Puerto Rico, and the U.S. Virgin Islands. Drawings for Powerball take place every Monday, Wednesday, and Saturday at 11 p.m. Eastern Time.
