The Powerball jackpot on Wednesday (Jan 6) has reached $450 million dollars, making it the biggest lottery prize in nearly a year.
The prize would have a cash option of $275.4 million and that is before taxes are deducted, CNBC noted.
The Powerball jackpot has been growing since the last jackpot winner in Nov 4, 2015 and will continue to increase if no one wins the big prize on Wednesday.
The jackpot has gone untouched for 17 consecutive drawings. If remained this way, the jackpot prize for this Saturday’s draw would be exponentially huge.
Multi-State Lottery Association officials reported on Tuesday that all is because of fast sales for the largest lottery jackpot in nearly a year, CNBC reported. This leads to the question — would this jackpot prize beat the current record holder?
As of today, the biggest lottery jackpot in USA is the Mega Millions jackpot at $656 million, which was won in March 2012, ABC News wrote.
This Wednesday’s $450 million Powerball jackpot is the highest jackpot since a $564.1 million in February 11, 2015 drawing, when three winners from North Carolina, Texas and Puerto Rico split the prize. The largest Powerball prize was a $590.5 million jackpot won by a Florida woman on May 18, 2013.
The odds of winning a lottery are one in 292.2 million. In comparison, your chance of being struck by lightning in a year is about one in 960,000, CNBC noted. This means you have to believe that you are so lucky you will be smitten 304 times. But as lottery officials often say, “you can’t win if you don’t spin”
Powerball is played in 44 states as well as the District of Columbia, the U.S. Virgin Islands and Puerto Rico. Drawings are held every Wednesday and Saturday at 10:59 p.m.
Tickets for Wednesday’s Powerball drawing can be purchased until 9:45 p.m. on the same day, at any Lottery retailer, CBS Boston noted. Tickets cost $2 each.