Powerball jackpot hits $925 million

The Gist: Hopeful ticket-holders take note, the Powerball jackpot has reached an eye-popping $925 million for the Saturday drawing, the fourth-largest jackpot in the game’s history.

The Details: The substantial prize comes after a Wednesday night draw failed to produce a grand prize winner. The numbers rolled were white balls 1, 7, 46, 47, 63, and the red Powerball 7 with a Power Play multiplier of 3X.

The jackpot last found a home on July 19 when a Californian ticket matched all the required numbers to claim a $1.08 billion prize. Since then, 30 consecutive drawings have passed without a top winner.

By The Numbers:

• More than 1.8 million tickets won prizes in the Wednesday drawing
• Four tickets from California, Kansas, Maryland, and New York won $1 million each
• 39 tickets across the U.S. bagged $50,000 prizes
• Five tickets scooped $150,000 each
• Odds of winning a prize: 1 in 24.9
• Odds of hitting the jackpot: 1 in 292.2 million

In Context: The prize now sits as the second-largest of this year and only trails behind three other massive jackpots in the history of Powerball. Those who manage to beat the steep odds and claim the jackpot come Saturday night will face a choice between an annuitized prize worth about $925 million or a lump sum payment of around $432.4 million—both before taxes, of course.

Why It Matters: Such a large jackpot creates a buzz that extends beyond habitual lottery players, driving ticket sales and, in turn, increasing the prize pot. More than half of all proceeds from ticket sales remain in the jurisdiction where the tickets are sold, thereby impacting local economies.

What’s Next?: As the countdown to Saturday’s 10:59 p.m. drawing intensifies, tickets will continue to be sold in 45 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. Each ticket will cost hopefuls $2 a pop.

Read the full article here