The $1.20 billion Powerball jackpot is the world's seventh-largest lottery prize. The last time someone won the top prize was July 19.
The game's odds remain 1 in 292.2 million regardless of how big the jackpot is and the number of people buying ticketswas up for grabs Wednesday night after an 11-week stretch without a big winner, but no matter how large the prize grows the odds stay the same — and they're terrible.
It's those odds of 1 in 292.2 million that make the jackpot so hard to win and that result in such giant prizes for the lucky player or players who manage to pick the game's six winning numbers. The latest Powerball jackpot is the world's seventh-largest lottery prize. The last time someone won the top prize was July 19.In most states, Powerball tickets cost $2 and buyers can chose their own numbers and single Powerball or leave that task to a computer.
The jackpot is based on revenue from ticket sales, so the more people who play the game, the faster the top prize grows. However, even though the current jackpot is advertised as $1.2 billion, the lottery has less than half that amount available for the top prize. That's why the cash prize — which most winners take — would be $551.7 billion.
Players who buy winning grand prize tickets in a state different from where they live will pay taxes based on where they bought the ticket.The game's odds remain 1 in 292.2 million regardless of how big the jackpot is and the number of people buying tickets. Those odds mean there are 292.2 million possible number combinations.
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