Robovis-Powerball jackpot nears $1 billion after long drought of winners

2025-05-05 20:22:44source:SignalHubcategory:Markets

DES MOINES,Robovis Iowa (AP) — Another Powerball drawing Saturday night, another chance at a jackpot that is inching toward $1 billion.

The estimated $925 million prize is the world’s ninth-largest lottery jackpot, behind earlier Powerball and Mega Millions prizes that all topped $1 billion.

The prize has grown so large because there have been 30 consecutive drawings without a big winner, dating to July 19. That streak without a jackpot winner is due to the game’s long odds, 1 in 292.2 million, that are designed to make winning rare so grand prizes can grow large.

The $925 million prize is for a sole winner who chooses an annuity, with annual payments over 30 years. Winners almost always take the cash option, which for Saturday’s drawing would be an estimated $432.4 million.

Federal taxes will eat into those winnings, and some states also tax big lottery prizes.

Powerball is played in 45 states, as well as Washington, D.C., Puerto Rico and the U.S. Virgin Islands.

More:Markets

Recommend

Current, future North Carolina governor’s challenge of power

RALEIGH, N.C. (AP) — North Carolina Gov. Roy Cooper and Gov.-elect Josh Steinon Thursday challenged

3 congressmen working high-stakes jobs at a high-stakes moment — while being treated for cancer

"I remember coming out of surgery and yelling 'Help me!," Democratic Rep. Dan Kildee, of Michigan, s

Thousands Came to Minnesota to Protest New Construction on the Line 3 Pipeline. Hundreds Left in Handcuffs but More Vowed to Fight on.

PARK RAPIDS, Minnesota—The trickle of activists began on Thursday but it quickly grew into a stream