Powerball jackpot hits staggering $1.5 billion after no one won $1.2 billion grand prize

No profitable tickets had been offered for Wednesday night time’s Powerball jackpot of $1.2 billion, so the highest prize for Saturday night time’s drawing might be $1.5 billion, Powerball officers mentioned.

The profitable numbers for Wednesday night time’s drawing had been 02, 11, 22, 35, 60 and a Powerball of 23.

The jackpot grows after each drawing and not using a winner and now was approaching the document of $1.586 billion won by three Powerball gamers in 2016. The second– and third-largest prizes had been hit by gamers of the Mega Millions lottery recreation.

There have now been 39 consecutive attracts and not using a jackpot winner because the final one was won on Aug. 3.

“I think it would be close to being a record if not a record,” mentioned Drew Svitko, the Pennsylvania Lottery’s government director. “The record of $1.586 billion that we had back in 2016 is within reach, but it really depends on a couple factors.”

The first issue is the variety of tickets offered, and they’re flying out of lottery machines all through the nation.

For the Monday night time drawing, there have been 131.6 million Powerball performs offered, mentioned Anna Domoto, a spokeswoman for the Multi-State Lottery Association, which oversees the sport. That amounted to 36.3% of all doable quantity combos being coated, as thousands and thousands of gamers picked the identical numbers.

That’s rather a lot, however contemplating the chances of profitable the jackpot are 1 in 292.2 million, which means about 186 million quantity combos weren’t coated, which is why no one won the grand prize.

Although the main target of the sport is on the $1.2 billion prize — that’s the quantity for an annuity, doled out over 29 annual funds — almost all winners select a money prize, which might be $596.7 million.

Still, the marketed prize relies on the annuity, and that is the place the second consider figuring out the jackpot is available in as increased rates of interest trigger annuities to develop extra shortly. Put one other method, the $596.7 million in money is funneled into investments that can ultimately pay out $1.2 billion, and people investments develop sooner as rates of interest rise.

“We use investments to fund the annuity to pay that prize, so the investments rely on interest and the degree to which interest rates effect the value of those investments also effect that jackpot,” Svitko mentioned.

For some gamers, it is not concerning the grand prize.

“What’s so fun about it?” Jeff Bennett requested Monday. “It’s the potential for winning, not that you win. It’s the potential — you’re buying hope.”

But even with the huge jackpot, not everybody has caught Powerball fever.

“There’s no use,” a person named Diego mentioned. “I mean, you’ve got a better chance of getting struck by lightning than winning that lotto.”

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