Cha-ching! Powerball jackpot swells to more than a half-billion
The Powerball jackpot has soared to over a half-billion, which the Associated Press reports would make it the eighth largest lottery jackpot in U.S. history.
No one picked the winning six numbers Wednesday, so Saturday’s jackpot climbs to $510 million for a single annuity winner, according to a Georgia Lottery Corp. news release.
That means the winnings would be paid out over 29 years in 30 graduated payments, the release said.
Or, the winner could take home a $324 million cash prize. But state and federal taxes would come out of that amount.
The odds of winning the cash prize are 1 in 292 million, the release said.
The last winning jackpot ticket was for $447.8 million on June 10 in California, according to the release.
Powerball is available in 44 states and in Washington, D.C., Puerto Rico and the U.S. Virgin Islands, the AP reported.
Powerball jackpot climbs to an estimated $510 million, making it one of the largest in U.S. history. https://t.co/tUbrK836ay
— The Associated Press (@AP) August 17, 2017
Georgia Powerball Fast Facts
Draw Date: Saturday, Aug. 19, 2017
Estimated Jackpot Amount: $510 million
Annuity Amount: Jackpot prize paid over 29 years in 30 graduated payments
Cash Option Amount: About $324 million
Cost to Play: $2 per play; an additional $1 per play to add the Power Play multiplier
Drawings: 11 p.m. every Wednesday and Saturday
Overall Odds of Winning Any Prize: Approximately 1:24.87
Source: Georgia Lottery Corp.
This story was originally published August 17, 2017 at 4:04 PM with the headline "Cha-ching! Powerball jackpot swells to more than a half-billion."