The Powerball jackpot keeps getting bigger!
The jackpot ranks as the sixth-largest in Powerball history.
The $700 million prize is for winners who choose to take their riches through an annuity, paid annually over 29 years. Nearly all winners opt for cash, which is currently estimated at $375.7 million.Get Philly local news, weather forecasts, sports and entertainment stories to your inbox.Those winnings also would be subject to federal taxes. Many states tax lottery winnings, too.
No one has hit all six numbers since Nov. 19, 2022, when a ticket in Kansas matched all five white balls and the red Powerball to win a $92.9 million jackpot. That's 32 consecutive draws without a jackpot winner. The winless streak is due to the abysmal odds of winning: one in 292.2 million. The longer the game goes without a grand prize winner, the larger the payout will grow. And with huge jackpots becoming increasingly common in lottery drawings — with six grand prizes between Powerball and Mega Millions surpassing $1 billion since 2016 — this latest Powerball streak could very likely become the seventh.
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