DES MOINES, Iowa – The ninth-largest lottery jackpot can be at the line Monday evening when numbers are drawn for a $785 million Powerball prize.
The payout has grown so massive as a result of it’s been construction for greater than two months, since a participant in California matched all six numbers on July 19 and received $1.08 billion. That’s 28 consecutive drawings with out a large winner.
That winless streak is because of the miserable odds of winning the Powerball jackpot, at 1 in 292.2 million. It’s the ones long, long odds that lead to such massive most sensible prizes, as they purpose the jackpot to roll over week after week.
Although the sport highlights the $785 million prize, that is for a winner who is paid thru an annuity over 30 years. Winners nearly at all times make a selection the money payout possibility, which for Monday night’s drawing can be $367 million.
The massive jackpot would even be topic to federal taxes, and a few states additionally tax lottery winnings.
Powerball is performed in 45 states, in addition to Washington, D.C., Puerto Rico and the U.S. Virgin Islands.