US Powerball jackpot boosted to $1.6bn making it largest lottery prize in history | US News


Strong sales have boosted a Powerball jackpot to an estimated $1.6bn (£1.3bn) – making it the largest lottery prize in history.

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

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

It is because of those long odds that the grand prize has grown so large.

The new jackpot tops the previous record prize of $1.586bn won in 2016 by three Powerball players in California, Florida and Tennessee.

In terms of what this amount of money actually looks like, according to Powerball if you stacked $1.5bn in $100 bills, it would reach a height of nearly 5,375ft – or over a mile.

If you won $1.6bn you could comfortably buy Windsor Castle.

Pic: Kristopher Radder/The Brattleboro Reformer via AP)
Pic: Kristopher Radder/The Brattleboro Reformer via AP)

The Castle’s current estimated market value is around £497.5m ($561.9m) according to the estate agent comparison site, GetAgent.

The total cost of construction for the world’s tallest building the Burj Khalifa, in Dubai at 2,717ft was $1.5bn.

The jackpot is played in 45 US states, as well as Washington DC., Puerto Rico and the US Virgin Islands.

Read more:
US Powerball jackpot surpasses $1bn ahead of Halloween night draw

But there are five states: Utah, Nevada, Hawaii, Alaska and Alabama which do not have a lottery. A mix of reasons has kept them away, including objections from conservatives, concerns about the impact on low-income families or a desire not to compete with existing gaming operations.

The advertised jackpot 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 $782.4m.

Winners of giant jackpots nearly always take the cash, and financial advisers say that might be a mistake.


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