Powerball jackpot hits $700m for tonight’s draw – the fifth highest in history of Powerball
>
The Powerball jackpot hits $700 million for tonight’s draw – the fifth highest in Powerball history – with winners receiving a $335 million after-tax lump sum
- The Powerball jackpot is $700 million for Wednesday night’s draw
- The huge amount makes it the fifth largest prize in the game’s 30-year history
- It comes after no winners have been declared after 35 consecutive draws
- Wednesday’s Potential Jackpot Has a Cash Value of $335.7 Million After Tax
- Monday’s winning numbers: 18-23-35-45-54, Powerball – 16, Power Play – 4
- The odds of winning the Powerball jackpot are an astronomical 1 in 292 million
<!–
<!–
<!–<!–
<!–
<!–
<!–
The Powerball jackpot skyrocketed to $700 million Tuesday after no one picked all six winning numbers on Monday night – making it the battle-biggest prize in the history of the game.
The sum comes because there is no winner after 35 consecutive draws – causing Wednesday night’s jackpot to climb slowly for nearly three months.
However, the jackpot flat-rate payout option, which lottery officials say most people select, is now $336 million.
Players also have a choice of the annuity option – paid in installments over the course of 29 years. Those who opt for cash see their profits reduced by almost 30 percent.
Just two months ago, that payout would have been closer to $413 million — a $77 million difference.
The odds of winning the jackpot are an astronomical 1 in 292 million. For reference, the odds of being affected by lighting are a much more realistic 1 in 15,000.
The Powerball jackpot skyrocketed to $700 million Tuesday after no one picked all six winning numbers Monday night — making it the biggest prize in the game’s history
The odds of winning the jackpot are an astronomical 1 in 292 million. For reference, the odds of being struck by lighting are a much more realistic 1-in-15,000
The top prize had reached $637.8 million prior to Monday night’s drawing, with the winning numbers 18-23-35-45-54 and a Powerball of 16 drawn. The multiplier was 4X.
One lucky Texas gambler matched five of the numbers to win a commendable $1 million – though the top prize has continued to elude citizens in the lotto’s 45 states.
When it was determined that no one won the top prize, the jackpot was increased to $680 million. That increase was short-lived, however, and it jumped back to its current $700 million within hours.
That number could still grow for Wednesday’s draw, but it would need to earn another $31.2 million to become the fourth-largest prize in the game’s 30-year history.
The jackpot is Powerball’s biggest prize to date this year, the fifth largest for Powerball and the eighth largest jackpot ever in the US lottery, Powerball Brass said in a press release.
No one has matched all six numbers and has won the Powerball top prize since August 3.
The sum comes as there is no winner after 35 consecutive draws – causing Wednesday night’s jackpot to rise slowly for nearly three months
The top prize had reached $637.8 million prior to Monday night’s drawing, drawing the winning numbers 18-23-35-45-54 and a Powerball of 16. The multiplier was 4X
The biggest lottery jackpot was a $1.586 billion Powerball prize that three cardholders won and had to split in 2016.
Last July, a lucky player in Illinois won a whopping $1,337 billion in the Mega Millions jackpot – the even more astronomical odds of which are 1 in 302 million.
That prize was the third largest prize in American lottery history, holding a South Carolina gambler four years before taking in $1,537 billion in another lucrative Mega Millions draw.
For those lucky enough, tickets cost $2 and are sold in 45 US states, as well as Washington, DC, Puerto Rico, and the US Virgin Islands.
More than half of all proceeds remain in the jurisdiction where the ticket was purchased, according to Powerball — with the drawings airing live every Monday, Wednesday and Saturday at 10:59 p.m. ET.
Drawings will also be streamed live online at Powerball.com.