Powerball jackpot grows to $975 million after no winner in March 30 drawing
No one has won Powerball's top prize since New Year's Day.
Powerball Jackpot Reaches $975 Million
In the most recent Powerball drawing on Saturday night, no one managed to match all six numbers, causing the jackpot to soar to an estimated $975 million. The winning numbers from the drawing were 12, 13, 33, 50, 52, and the red Powerball was 23.
A Long Streak of Jackpot Misses
This marks the 37th consecutive drawing without a jackpot winner since New Year's Day. The current streak is closing in on the record of 41 consecutive drawings without a winner, which was set twice in 2022 and 2021.
Rare Odds and Large Jackpots
Powerball's odds of winning the jackpot are quite challenging, with a 1 in 292.2 million chance. This rarity in hitting the top prize allows the jackpots to grow to substantial amounts and attract more sales.
Prize Details and Tax Implications
The $975 million prize is designated for a single winner who chooses the annuity option, which is paid out over a span of 30 years. If the winner prefers a lump sum payment, they would receive $471.7 million. It's important to note that both options would be subject to federal taxes, and many states also tax lottery winnings.
Recent Surge in Large Jackpots
Both Powerball and Mega Millions have seen an increase in the frequency of large jackpots in recent years. This surge can be attributed to the doubling of ticket prices and the lowering of odds for both games.
Last August, a single winning ticket was sold in Neptune, Florida, resulting in a staggering $1.6 billion Mega Millions jackpot, the largest in the game's history and the third-largest in lottery history. In February 2023, a winning ticket sold near Los Angeles claimed a $2.04 billion Powerball jackpot, setting a new record as the largest in lottery history.
Powerball Details and Draw Schedule
Powerball is played in 45 states, including Washington, D.C., Puerto Rico, and the U.S. Virgin Islands. The drawings for Powerball take place every Monday, Wednesday, and Saturday at 11 p.m. Eastern Time.