"Powerball's odds of 1 in 292.2 million are designed to generate big jackpots, with prizes growing as they roll over when no one wins. Lottery officials note that the odds are far better for the game's many smaller prizes. There are three drawings each week. The estimated $1.6 billion jackpot goes to 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 Monday night's drawing would be an estimated $735.3 million."
"The Powerball jackpot has jumped to an eye-popping $1.7 billion, after the 46th drawing passed without a big winner. The numbers drawn Monday night were 3, 18, 36, 41, 54 and the Powerball 7. Since Sept. 6, there have been 46 straight drawings without a big winner. The next drawing will be Christmas Eve on Wednesday, with the prize expected to be the 4th-largest in U.S. lottery history."
Powerball's jackpot reached $1.7 billion after 46 consecutive drawings without a grand-prize winner. The Monday night numbers were 3, 18, 36, 41, 54 and Powerball 7. The next drawing is scheduled for Christmas Eve and the prize is expected to rank as the fourth-largest in U.S. lottery history. The advertised annuity estimate is $1.6 billion paid in 30 payments over 29 years; the cash option for the latest drawing is about $735.3 million. Powerball odds are 1 in 292.2 million; the game offers better odds for smaller prizes, holds three weekly drawings, costs $2 per ticket and is offered in 45 states plus DC, Puerto Rico and the U.S. Virgin Islands.
Read at Fortune
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