The Powerball jackpot has reached an incredible $1.2 billion as no players won the big prize on Monday night, according to the AP. The winning numbers for the previous draw were: 12, 26, 27, 43, 47 and the Powerball 5. The upcoming Wednesday night drawing will have one of the largest lottery jackpots in history, following previous big prizes in the Powerball and Mega Millions games. The reason for the massive jackpot is that there have been 33 consecutive draws without a jackpot winner, dating back to July 19. This long losing streak highlights the extremely slim odds of winning the jackpot, which are 1 in 292.2 million.
The new $1.2 billion jackpot is for a single winner who chooses to receive the prize through an annuity, paid annually over 30 years. However, winners usually opt for the cash option, which for Wednesday night’s drawing is estimated to be $551 million. A Powerball ticket costs $2 in most states, and players can either choose their own numbers or use a computer to make the selection. Powerball is played in 45 states, as well as Washington, DC, Puerto Rico, and the US Virgin Islands. Only nine lottery jackpots, including this one, have ever exceeded $1 billion, and only one has surpassed $2 billion, as reported by the Palm Beach Post.
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