43 drawings in, Powerball’s jackpot swings to $1.25 billion
By Toni Odejimi, CNN
(CNN) — Powerball’s jackpot pushed to an estimated $1.25 billion for Wednesday night’s drawing after no winners took home the big prize on Monday.
The winning numbers on Monday night were 23, 35, 59, 63, 68, and the red Powerball was 2. There was also a Power Play multiplier of 4, which multiplies non-jackpot winnings by four if ticket purchasers paid $1 extra per game.
The jackpot is the second largest of the year and the sixth highest in the lottery game’s history, according to the Multi-State Lottery Association. It’s been steadily crawling up in value to rival the largest jackpot this year, September’s $1.787 billion jackpot, split between winners in Texas and Missouri.
The winner of the jackpot can choose between two payment options: one upfront payment, followed by 29 escalating installment payments, which lotteries offer through an annuitized prize plan that takes interest into account, or a lump sum.
The lump sum is paid to winners at once from the money in the jackpot pool, which is typically lower than the annuitized value. For this jackpot, it’s an estimated $572.1 million; nearly half of the annuitized amount often advertised on billboards.
Both figures are before taxes, though some states don’t tax lottery winnings. Three of these states, California, Texas and Florida, have had some of the largest jackpot earnings in US lottery history.
The odds of winning Powerball’s jackpot are 1 out of 292.2 million, though the odds are better for smaller cash prizes, some as low as $4.
The next drawing, the 44th drawing in the series – a game record for the most drawings in a jackpot cycle, according to Powerball – is set for Wednesday at 10:59 p.m. ET.
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