With the fourth-largest Powerball jackpot on the line Saturday night, millions of Americans have bought what they hope will be the winning ticket.
The jackpot stands at a whopping $960 million, with a $441.4 million cash option.
Jackpot winners have the option of either taking the full jackpot in 30 payments over 29 years or a lump-sum cash option. Most people choose the cash option.
The drawing will take place at 11 p.m. ET Saturday. Make sure to check back here for the winning numbers.
The largest jackpot in American history was a $2.04 billion Powerball prize won by a player in California in November 2022. The Powerball in July of this year also awarded a $1 billion jackpot to one lucky player in Los Angeles, California.
Jackpots grow every time a winner is not picked in a drawing, based on the number of tickets bought. With no winner in Powerball’s last drawing on Wednesday, there has not been a winner in 30 consecutive drawings.
In most states, a Powerball ticket costs $2 and players can select their own numbers or leave that task to a computer.
Powerball winnings would be subject to federal taxes, and many states tax lottery prizes as well.
In most states, a Powerball ticket costs $2. Typically, $1 of the Powerball ticket cost goes to the player pool, and the other half goes to pay administrative fees, retailer costs and state services such as education.
In California alone, the lottery raised more than $2 billion for the state’s public school system in the 2021-2022 fiscal year, according to the California Lottery website.
Powerball is played in 45 states, as well as Washington, D.C., Puerto Rico and the U.S. Virgin Islands.
Source: NBC New York
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