Powerball Jackpot Is Now 3rd-Largest Lottery Jackpot

The Powerball jackpot has jumped to an eye-popping $1.7 billion, after yet another drawing passed without a big winner Wednesday, the AP reports. The numbers selected were: 3, 16, 29, 61, and 69, with the Powerball number being 22. Since May 31, there have been 41 straight drawings without a big winner. The next drawing will be Saturday night, with the prize expected to be the third-largest in US lottery history. The top two: a $2.04 billion jackpot in 2022, and a $1.765 billion jackpot the following year, the AP reports.

Powerball's terrible odds of 1 in 292.2 million are designed to generate big jackpots, with prizes becoming ever larger as they repeatedly roll over when no one wins. Lottery officials note that the odds are far better for the game's many smaller prizes. There are three drawings each week. The estimated $1.4 billion jackpot from Wednesday night's drawing would have been for a winner who had opted to receive 30 payments over 29 years through an annuity. Winners almost always choose the game's cash option, which would have been an estimated $634.3 million. The cash option for Saturday night's drawing is an estimated $770.3 million. Powerball tickets cost $2 and the game is offered in 45 states plus Washington, DC, Puerto Rico, and the US Virgin Islands.