Related videos:
The top prize of Powerball is once again capturing the attention of the American public.
After the drawing this Wednesday, where no one correctly guessed the six winning numbers, the jackpot surged to 1.7 billion dollars, making it the third largest in the history of the lottery in the United States.
According to the Multi-State Lottery Association, the drawn combination consisted of the numbers 3, 16, 29, 61, and 69, with the red Powerball 22, and a Power Play multiplier of 2.
The next drawing will take place on Saturday night, when thousands of players will once again try their luck in hopes of winning the multimillion-dollar prize.
This is a milestone in Powerball history: only two prizes have been higher: the all-time record of $2.04 billion won in 2022; and the $1.765 billion won in 2023.
Both ended up in the hands of players from California.
How is the prize paid?
The current amount of 1.7 billion corresponds to a payment option of 30 annual installments over 29 years, with an immediate initial disbursement.
However, there is another option: a one-time cash payment that, according to estimates, would be around 770 million dollars before taxes.
The organizers note that most winners choose this immediate payout option, even though it means receiving a considerably smaller amount than the jackpot announced.
In fact, the estimated prize of $1.4 billion for Wednesday's drawing would have been reduced to $634.3 million in cash, had there been a winner.
An unprecedented streak
The game has also reached a particular record.
Since May 31, when the last major prize was awarded in California, there have been 41 consecutive draws without a winner.
This Saturday will mark the 42nd drawing, matching the longest streak in Powerball history.
The only previous occasion when something similar happened was in April 2023, when a player from Oregon finally won 1.3 billion.
Almost impossible odds
The success of Powerball lies not only in the astronomical numbers but also in its extremely low odds.
CNN reminds us that the chance of winning the jackpot is 1 in 292.2 million.
“The slim chances of winning the Powerball[…] are designed to create large jackpots, which increase as they build up continuously when there are no winners,” noted Associated Press.
Although the grand prize is the main attraction, the odds of winning smaller prizes are much more accessible, which helps maintain interest in each drawing.
Furthermore, as ticket sales increase, so do the chances that two or more people will share the same prize.
A game that moves crowds
With a ticket price of two dollars, Powerball is available in 45 states, as well as Washington D.C., Puerto Rico, and the U.S. Virgin Islands.
Three times a week—Monday, Wednesday, and Saturday—millions of people eagerly follow the lottery draws, hoping to become overnight millionaires.
The magnitude of this Saturday's jackpot promises an even greater participation, with long lines at gas stations and supermarkets, and a renewed debate about luck, odds, and the impact of the lottery on the lives of those who manage to win it.
Filed under: