Powerball drawing today: Jackpot nears record with $1.3 billion for tonight's drawing
Share this @internewscast.com

The Powerball jackpot for the upcoming Wednesday night draw has ballooned to an estimated $1.3 billion, marking it as the fifth largest in the game’s history, following no winner claiming the grand prize earlier this week.

This massive jackpot is also the ninth-largest among all lottery jackpots in the United States. The $1.3 billion value reflects the prize for those opting to receive it as an annuity, paid out in 30 annual portions over 29 years, with gradually increasing amounts. Alternatively, winners can select a one-time cash payment, which is currently estimated at $589 million.

There have been 40 consecutive drawings since the jackpot was last claimed in May, with Wednesday set to feature the 41st drawing. This streak is nearly the longest in Powerball’s 30-year existence; the previous record was 42 back-to-back drawings without a winner, established last year.

The increasing jackpot has spurred higher ticket sales. Compared to an earlier Monday drawing on August 25, which advertised a $750 million jackpot, the sales for Monday’s $1.1 billion prize saw a surge of 175.4%.

Though the grand prize has risen significantly, the likelihood of winning remains unchanged, standing at about 1 in 292 million. These odds are influenced by changes in the number of balls used in the drawings over time, which have decreased the chances of winning the jackpot—although the likelihood of multiple winners sharing the prize grows as more people purchase tickets.

Winning such a significant jackpot also comes with a considerable tax obligation, potentially amounting to hundreds of millions of dollars, depending on the winner’s state of residence and their choice on how to receive the winnings.

Powerball tickets sell for $2 and can be bought in 45 states, the District of Columbia, Puerto Rico and the US Virgin Islands.

The next drawing is scheduled for Wednesday night at 10:59 p.m. ET.

The CNN Wire & © 2023 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.

Share this @internewscast.com
You May Also Like
Cardi B wins case filed by security guard who claimed rapper assaulted her

Cardi B Prevails in Legal Battle Over Alleged Assault by Security Guard

A jury promptly awarded Cardi B a decisive victory on Tuesday in…
Trump claims Putin, Xi, Kim are conspiring against the US after military parade in China

Trump Alleges Putin, Xi, and Kim Are Collaborating Against the US Following China’s Military Parade

On Tuesday, U.S. President Donald Trump accused Russian President Vladimir Putin, Chinese…
Cardi B throws marker after asked about pregnancy rumors

Cardi B Reacts to Pregnancy Speculation by Tossing Marker

Cardi B angrily tossed a marker at a paparazzo after the shutterbug…
Jaguars, Firehouse subs announce new menu item

Jaguars and Firehouse Subs Introduce Fresh Menu Choice

The Jags Stack will be available for a limited time at all…
College student gunned down by ex-boyfriend after months of stalking: report

College Student Fatally Shot by Ex-Boyfriend Following Months of Stalking: Report

A college student in Michigan was tragically killed by her ex-boyfriend over…
FEMA, IEMA, US SBA, more to survey Chicago, Illinois, Cook County after August flooding damage for possible funding

FEMA, IEMA, US SBA, and other agencies to assess flood damage in Chicago and Cook County from August for potential funding assistance.

CHICAGO (WLS) — Assessment teams will be surveying parts of Chicago and…
Rudy Giuliani is released from hospital, 'recovering well' after New Hampshire car crash, associate says

Rudy Giuliani Leaves Hospital, ‘Doing Well’ After Car Accident in New Hampshire, Says Associate

Former New York City Mayor Rudy Giuliani is “recovering well” after being…
Putin, Kim Jong Un begin bilateral talks in Beijing after attending massive Chinese military parade

Putin and Kim Jong Un Engage in Bilateral Discussions in Beijing Following China’s Grand Military Parade

Russian President Vladimir Putin and North Korea’s leader Kim Jong Un met…
Pilsen community mourns Pedro Toledo, who relatives say was caught in crossfire of Heart of Chicago shooting near 17th and Wolcott

Pilsen Grieves for Pedro Toledo, Believed to Be an Innocent Victim in Heart of Chicago Shooting Near 17th and Wolcott

A tribute is expanding on Tuesday at the scene where a man…
Beloved professor vanishes during Labor Day walk as police intensify search efforts

Respected Academic Disappears on Labor Day Walk, Police Ramp Up Search

Authorities are searching for a beloved college professor who vanished during a…
Teen prank turns deadly in Dem-run city, homeowner facing murder charge

Tragic Outcome: Homeowner Charged with Murder Following Teen Prank in Democrat-Led City

A Houston, Texas man was charged with murder after allegedly killing an…
Florida boy, 5, asks police 'are you going to take me to jail?' after solo Chick-fil-A trip

Florida 5-year-old asks police if he’s going to jail after solo trip to Chick-fil-A

One summer morning, a 5-year-old boy from Florida, driven by his hunger…