2023-10-09 19:27:30
The US$1.55 billion jackpot is for a single winner, who will receive payments over 30 years in the form of an annuity. Most jackpot winners opt for a cash payout, which would equate to approximately US$679.8 million. The jackpot is now the fourth largest lottery prize in the United States following being rolled over in 34 consecutive drawings, since the last time someone won the jackpot on July 19. This streak of consecutive draws is just behind the record of 41 draws set in 2021 and 2022.
The largest jackpot ever won in the United States was a US$2.04 billion Powerball prize won by a player in California in November 2022.
The rarity of Powerball jackpot winners reflects the extremely low winning odds of 1 in 292.2 million, designed to make wins rare and thus allow the accumulation of jackpots.
Federal taxes reduce winnings, and some states also tax lottery jackpots.
Powerball is played in 45 states as well as Washington, DC, Puerto Rico and the U.S. Virgin Islands.
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