US Powerball jackpot reaches whopping $1.04bn

By Isaac M October 1, 2023

The US Powerball jackpot has risen to a whopping $1.04bn (around £852m) after no one won over the weekend.

The next chance for ticket buyers to clinch the jackpot will be Monday’s draw, although they will have to overcome the steep odds of 1 in 292.2 million to secure a win.

The potential jackpot will be the world’s ninth-largest lottery of all time.

The money has been accumulated after 30 consecutive draws, over a period of more than two months, with no big winner.

To win the huge sum, a player must guess all six lucky numbers, including the final Powerball.

Saturday night’s numbers were: 19, 30, 37, 44, 46 and red Powerball 22.

Americans can buy a Powerball ticket for $2 (£1.64) and winners can decide to receive their money as an annuity, paid in 30 graduated payments over 29 years, or a lump sum cash payment.

So, while the annuity value of Monday’s jackpot would be $1.04bn, the lump sum of cash – which winners normally choose – would be an estimated $478.2m (£392m).

Those winnings would be subject to federal taxes, while many states also tax lottery prizes.

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For context, $1.04bn would buy you around thirty 10-bedroom mansions in the desirable west London suburb Kensington and Chelsea; 300 plus top of the range round the world cruises; or 100 eight-seater private jets.

The largest ever jackpot was a $2.04bn Powerball prize won by a player in California in November 2022.

The Powerball jackpot is played in 45 US states, as well as Puerto Rico and the US Virgin Islands.


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