Powerball jackpot up to $1.6 billion, new lottery record

By AP News

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Strong sales boosted a Powerball jackpot to an estimated $1.6 billion, making it the largest lottery prize in history

Lottery Jackpot

DES MOINES, Iowa (AP) — Strong sales boosted a Powerball jackpot to an estimated $1.6 billion on Friday, making it the largest lottery prize in history.

A drawing will be held Saturday night for the Powerball prize, which hasn’t been won in more than three months. That string of 39 consecutive drawings without a winner is a reflection of the tough odds of winning a jackpot, at 1 in 292.2 million.

The advertised jackpot is the prize for a winner who chooses an annuity, paid annually over 29 years. Almost all winners instead opt for the cash prize, which for Saturday night’s drawing would be an estimated $782.4 million.

The new jackpot tops the previous record prize of $1.586 billion won in 2016 by three Powerball players in California, Florida and Tennessee.

Powerball is played in 45 states, as well as Washington, D.C., Puerto Rico and the U.S. Virgin Islands.

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Author: AP News

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

Originally published by Associated Press Valuethemarkets.com, Digitonic Ltd (and our owners, directors, officers, managers, employees, affiliates, agents and assigns) are not responsible for the content or accuracy of this article. The information included in this article is based solely on information provided by the company or companies mentioned above.

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