Powerball: The prize is approaching $1 billion

Des Moines – Saturday night there is another giveaway Powerballanother chance to win a jackpot approaching $1,000 million.

The $925 million prize is the ninth-largest lottery jackpot in the world, behind the previous two Powerball and Mega Millions jackpots, which each exceeded $1 billion.

The prize has grown so much because since July 19, 30 consecutive drawings have been held without a big winner. This series without a jackpot winner is due to the long game’s odds, of 1 in 292.2 million, which are designed so that wins are rare and big jackpots can grow.

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The $925 million prize goes to one winner who chooses the annuity, with annual payments for 30 years. Winners always choose the cash option, which will be worth $432.4 million in Saturday’s drawing. Federal taxes will be deducted from those winnings, and some states also impose a tax on large lottery prizes.

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