Put The Yacht On Order! The Powerball Jackpot Now Stands At $620 Million
DES MOINES, Iowa (CBSDFW.COM/AP) — The Powerball jackpot has climbed to an estimated $620 million, making it the 10th largest U.S. lottery prize ahead of Saturday night's drawing.
There have been 39 drawings in a row -- over nearly four months -- without a Powerball grand prize winner. The last time someone hit the jackpot was on June 5.
It's no mystery why it's been so long since a player has hit the jackpot — the odds are a steep one in 292.2 million.
Although the jackpot is billed as $620 million, that is the estimate for the annuity option paid over 30 years. Winners nearly always opt for the cash option, which for Saturday's drawing will be an estimated $446 million.
Either way, it's a huge amount of money, though it's far from the record prize. That was a $1.586 billion Powerball jackpot won in 2016 by ticket holders from California, Florida and Tennessee.
Powerball is played in 45 states plus Washington, D.C., the U.S. Virgin Islands and Puerto Rico.
Powerball drawings are held every Monday, Wednesday and Saturday. Tickets cost $2 (without multiplier options), and the sales time cut off in Texas is 9:00 p.m. — about an hour and 15 minutes before the actual drawing.
(© Copyright 2021 CBS Broadcasting Inc. All Rights Reserved. The Associated Press contributed to this report.)