Powerball jackpot up to $1.6 billion, new lottery record

DES MOINES, Iowa (AP) – Strong sales boosted a Powerball jackpot to an estimated $1.6 billion, making it the largest lottery prize in history.

A drawing will be held Saturday night for the Powerball prize, which hasn’t been won in more than three months.

Two Powerball playslips sit on top of a piece of scratch paper at Bluebird Liquor in Hawthorne, Calif., Wednesday, Nov. 2, 2022. The fourth-largest lottery jackpot in U.S. history could soar to the largest ever if no one wins the top prize in Wednesday night’s Powerball drawing. (AP Photo/Jae C. Hong)

That string of 39 consecutive drawings without a winner is a reflection of the tough odds of winning a jackpot, at 1 in 292.2 million.

The jackpot increased Friday is the prize for a winner who chooses an annuity, paid annually over 29 years. Almost all winners instead opt for the cash prize, which for Saturday night’s drawing would be an estimated $782.4 million.

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