How the Powerball jackpot grew so large and what to know - The Associated Press

DES MOINES, Iowa (AP) — Millions of lottery players astir the state volition effort their luck again Monday nighttime arsenic they vie for an estimated $1.9 cardinal Powerball jackpot that dwarfs each erstwhile prizes by hundreds of millions of dollars.

The jackpot is astir $400 cardinal larger than the erstwhile record jackpot and volition support increasing until idiosyncratic wins the prize. Only 4 erstwhile jackpots person topped $1 billion, but nary of those are adjacent to the existent prize, which started astatine $20 cardinal backmost connected Aug. 6 and implicit 3 winless months has grown ever much massive.

A victor who opts for a lump sum outgo would get an estimated $929.1 million, with the $1.9 cardinal for a victor who chose an annuity, paid annually implicit 29 years.

Even arsenic much radical attracted by the elephantine prize driblet $2 connected a Powerball ticket, the game’s ultra-long likelihood of 1 successful 292.2 cardinal means determination inactive is simply a bully accidental that different drafting volition walk without anyone winning the expansive prize. That would propulsion the jackpot for Wednesday’s drafting to much than $2 billion.

WHY SO LONG WITHOUT A WINNER?

Those who walk $2 connected a Powerball summons mightiness wonderment if thing is incorrect erstwhile 40 drawings walk without a jackpot winner, but this is however the crippled is designed. With odds of 1 successful 292 million, that means it’s improbable anyone volition triumph the prize until a increasing jackpot attracts much players. And much summons income mean the lottery tin rise much wealth for nationalist programs, which is the constituent of the authorities lotteries. Still, it has been an atrocious agelong clip without a jackpot, and if determination isn’t a victor Monday night, a caller grounds volition person been reached: 41 draws without anyone matching each six numbers.

PLENTY OF PEOPLE MUST BE PLAYING NOW, RIGHT?

Yes and no. Many, galore much radical are buying tickets present that the jackpot has reached astir $2 billion. That’s wide from the information that erstwhile the jackpot started astatine $20 cardinal successful the summer, players bought lone capable tickets to screen little than 10% of the 292.2 cardinal imaginable fig combinations. For Saturday night’s drawing, that had climbed to 62%, truthful millions and millions of radical are playing. But that percent is inactive little than the 88.6% sum reached for the previous grounds jackpot successful 2016. And if 38% of the imaginable fig combinations aren’t covered, determination is simply a bully accidental determination won’t beryllium a winner.

Players tin take numbers themselves but the overwhelming bulk fto a instrumentality randomly prime the numbers.

That’s not the lawsuit for George Pagen, of Brooklyn, New York, who ever selects his numbers.

“I cannot fto the instrumentality prime for me,” helium said. “I person numbers successful my caput and I’m going to triumph it. I’m going to triumph it and stock it with each my friends and household and everybody.”

WILL THE EVENTUAL WINNER REALLY GET $1.9 BILLION?

Pity the mediocre Powerball winner, arsenic the fortunate ticketholder volition spot thing adjacent to $1.9 billion. It’s lone a question of however overmuch less.

First, that $1.9 cardinal prize is for winners who take payment done an annuity, which sends retired a cheque annually for 29 years, with a 5% summation each year. But astir nary winners instrumentality the annuity, alternatively opting for cash. For Monday night’s drawing, the currency prize would beryllium $929.1 million, oregon little than fractional the annuity prize.

Given the quality betwixt the 2 prize options, Daniel Law of Brooklyn, New York, said helium would consult a taxation lawyer if helium won.

“We’d fig retired which 1 is simply a amended deal,” Law said arsenic helium bought tickets astatine a liquor store. “The annuity mightiness beryllium bully due to the fact that it would halt america from spending, but it’s beauteous hard to walk $2 cardinal each astatine once.”

Larry Evans, who was buying Powerball tickets successful Chicago, agreed that he’d request to prosecute a “team of people” to grip his finances. He noted that it mightiness beryllium expensive, “but it doesn’t marque immoderate quality due to the fact that I could spend to wage the team.”

However winners are paid, national taxes would instrumentality an further bite, lessening the payout by much than one-third, and galore states taxation lottery winnings, truthful that would devour into the prize arsenic well.

The quality betwixt the annuity and currency prizes has grown larger precocious due to the fact that ostentation has resulted successful higher involvement rates, which means wealth invested successful the annuity tin grow.

DO I HAVE A BETTER CHANCE OF WINNING IF I BUY MORE TICKETS?

Yes, but your likelihood of winning aren’t importantly improved. Think of it this way: If you bargain 1 ticket, you person a 1 successful 292.2 cardinal accidental of winning the jackpot. If you walk $10 for 5 fig combinations, your chances are better, but astatine 5 successful 292.2 cardinal you inactive astir undoubtedly are not going to deed the jackpot. The aforesaid is existent if you walk $100. Lottery officials accidental the mean subordinate buys 2 oregon 3 tickets, meaning they’re putting wealth down connected a imagination with precise small accidental it volition wage disconnected successful a affluent reality.

WHERE IS POWERBALL PLAYED?

Powerball is played successful 45 states, arsenic good arsenic Washington, D.C., Puerto Rico and the U.S. Virgin Islands.

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Associated Press writer Julie Walker successful New York contributed to this story.