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Powerball hits $1 billion for tonight’s drawing, the biggest US lottery jackpot of the year
CNN • • business
Key Points:
- The Powerball jackpot has reached an estimated $1 billion for Wednesday's drawing, marking the first billion-dollar jackpot since a $1.8 billion win in Arkansas last Christmas Eve.
- Monday night's drawing yielded no grand prize winner, making Wednesday's the 44th consecutive drawing without a jackpot winner, with the prize now the eighth-largest in Powerball history.
- Winners can choose between a $1 billion annuity paid over 29 years or a lump sum estimated at $433.1 million before taxes, with many winners favoring the lump sum option.
- Despite no jackpot winner Monday, several players won significant prizes, including a $2 million prize in Tennessee and two $1 million prizes in California and Maryland.
- The odds of winning the Powerball jackpot are about 1 in 292.2 million, and the game has seen increasing jackpot sizes in recent years due to changes in game design and an expanded player base.
