Powerball jackpot nears $1 billion as drawing for giant prize nears

DES MOINES, Iowa (AP) — A nearly $1 billion Powerball jackpot will tempt lottery players who think they just might hit it rich after three months without a big winner. No one has won Powerball’s $975 million jackpot since New Year’s Day, a stretch of 38 consecutive drawings without anyone matching the game’s six numbers. The reason for the jackpot drought is simple: The odds of winning the top prize are miserable, at 1 in 292.2 million. The $975 million prize is for a sole winner who makes the rare decision to be paid over 30 years through an annuity. Nearly all winners instead take the cash option, which for Monday night’s drawing would be $471.7 million.