No First Prize Winner Since May
Powerball Jackpot Soars to $1.7 Billion
The jackpot for the U.S. Powerball lottery has soared to 1.7 billion dollars (approximately 2.3699 trillion won) after yet another drawing failed to produce a first prize winner. This is the third-largest amount in the history of U.S. lotteries.
On September 4 (local time), ABC News reported that there was no first prize winner in the most recent Powerball drawing held the previous day, resulting in the jackpot increasing to 1.7 billion dollars. The winning numbers were 3, 16, 29, 61, and 69, with the Powerball number being 22. Since May 31, there has not been a single first prize winner in Powerball, and a total of 42 drawings have been held so far.
Powerball tickets are sold for 2 dollars (approximately 2,790 won) each. Depending on the combination of matched numbers, fixed prizes are awarded from ninth place to second place, ranging from a minimum of 4 dollars (about 5,600 won) to a maximum of 1 million dollars (about 1.4 billion won).
In contrast, the first prize jackpot, known as the "jackpot," has odds of about 1 in 292.2 million and is not a fixed amount; if there is no winner, the prize money continues to roll over. As a result, if there are no winners for an extended period, the jackpot can grow to several billion dollars. The largest prize in history was 2.04 billion dollars (about 2.844 trillion won), awarded in California in November 2022.
Winners can choose to receive their prize in the form of an annuity paid out over 30 installments across 29 years, or opt for a lump-sum payment, which is roughly half the total amount. Most winners are known to prefer the lump-sum option. The next Powerball drawing will be held on the night of September 6.
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