DES MOINES, Iowa (AP) — The ninth-largest lottery jackpot can be on the road Monday evening when numbers are drawn for a $785 million Powerball prize.
The payout has grown so massive as a result of it has been constructing for greater than two months, since a participant in California matched all six numbers on July 19 and received $1.08 billion. That’s 28 consecutive drawings with no massive winner.
That winless streak is because of the depressing odds of profitable the Powerball jackpot, at 1 in 292.2 million. It’s these lengthy, lengthy odds that lead to such massive high prizes, as they trigger the jackpot to roll over week after week.
Though the sport highlights the $785 million prize, that’s for a winner who’s paid by means of an annuity over 30 years. Winners virtually all the time select the money payout choice, which for Monday evening’s drawing could be $367 million.
The enormous jackpot would even be topic to federal taxes, and a few states additionally tax lottery winnings.
Powerball is performed in 45 states, in addition to Washington, D.C., Puerto Rico and the U.S. Virgin Islands.
