"An estimated $1.4 billion lottery jackpot will be up for grabs Wednesday night thanks to dozens of drawings without a big winner. The massive Powerball prize is the sixth-largest U.S. lottery jackpot. It's a result of 40 consecutive drawings stretching over the summer without anyone matching all of the game's six numbers. No one has won the grand prize since May 31, and the 41st drawing on Wednesday will be just one fewer than the record set last year."
"All of that losing stems from Powerball's abysmal odds of 1 in 292.2 million, though lottery officials note that the odds are far better for the game's many smaller prizes. There are three drawings each week. The $1.4 billion jackpot is for a winner who opts to receive 30 payments over 29 years through an annuity. Winners almost always choose the game's cash option, which for this drawing would be an estimated $634.3 million."
An estimated $1.4 billion Powerball jackpot will be available Wednesday. The prize ranks as the sixth-largest U.S. lottery jackpot and results from 40 consecutive drawings without a top-prize winner. No ticket has matched all six numbers since May 31, and the upcoming 41st drawing will be one fewer than last year's record streak. Powerball odds for the jackpot are 1 in 292.2 million, though odds are much better for smaller prizes. Drawings occur three times weekly. The advertised annuity equals 30 payments over 29 years; the cash option is estimated at $634.3 million. Tickets cost $2 and the game runs in 45 states, Washington, D.C., Puerto Rico and the U.S. Virgin Islands.
Read at 6abc Philadelphia
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