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US Powerball Jackpot Soars To $1.6 Billion and, Largest In History

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The #US Powerball jackpot grand prize, the highest lotto payout ever, has increased to $1.6 billion and could be paid out as early as Saturday. Since the jackpot was last claimed on August 3 in Pennsylvania, it has been slowly increasing.

The 40th Powerball drawing since the jackpot was last won will take place on Saturday at 10:59 p.m. (02:59 GMT) at the Florida Lottery studio.  In 2016, tickets in California, Florida, and Tennessee combined for the $1.586 billion Powerball record prize. The odds of winning the jackpot, according to Powerball organizers, are 1 in 292.2 million.

Not only those who have winning tickets receive a payout in the drawing. State and local governments might also want a piece of the windfall, with the US tax authorities taking about 40% of it. A lump sum payout of up to $782.4 million, estimated for Saturday’s jackpot, is an option for any single Powerball winner. Alternatively, they could decide to make 30 graded payments over 29 years.

In 45 US states, the District of Columbia, Puerto Rico, and the US Virgin Islands, $2 Powerball tickets can be purchased. A Powerball ticket holder must select a Powerball number between 1 and 26 and five additional numbers between 1 and 69 to play.

The buyer then returns home and, while anticipating the results of the drawing and the anticipated disappointment that would follow, daydreams about mansions, new vehicles, fine cuisine, and luxurious holidays. The longest period without a major prize will be tied if no one wins the jackpot in the drawing on Saturday.

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