Additional Coverage:
Hold onto your hats, folks, because the Powerball jackpot is about to make history! It’s reached a staggering $1.7 billion – the third-largest prize ever – and it’s still climbing.
Nobody matched all six numbers in Wednesday’s drawing, so the pot keeps growing. For those keeping score at home, Wednesday’s numbers were 3, 16, 29, 61, and 69, with a Powerball of 22.
While nobody snagged the grand prize, there were plenty of other winners. Eleven lucky folks across the country won $1 million each, and four more doubled their winnings to $2 million with the Power Play option.
If you’re the lucky duck who wins the big one, you’ve got a choice: take the money as a lump sum or in yearly installments. The annuity option gives you an initial payment, then 29 more annual payments that each increase by 5%.
Of course, Uncle Sam will want his cut – expect to pay 37% in federal taxes. And depending on your state, you might owe even more.
But hey, with that much money, who’s counting?
The last time someone hit the Powerball jackpot was May 31st in California. Since then, there have been 33 drawings without a winner.
Think you can beat the odds? They’re a daunting 1 in 292.2 million for the jackpot, but a much more manageable 1 in 24.9 for any prize.
The next drawing is Saturday, September 6th, at 10:59 p.m. ET. Good luck, and may the odds be ever in your favor!