At $650 million, Powerball lottery jackpot now third largest in US history

  • No winner on Saturday means Wednesday’s draw is even bigger
  • Odds of winning the prize are one in 292.2 million

The Powerball jackpot is set to become the third largest lottery pot in US history after no-one matched all six numbers during the latest draw on Saturday night.

Powerball Power Play logos

According to Powerball officials, there was no grand prize winner in the most recent drawing as no player managed to correctly predict the winning numbers, which extends the period during which no player has matched all six numbers to more than two months.

As a result, the jackpot has been growing steadily after each draw and now stands at a figure of $650 million, making it the third-largest jackpot in US history.

The next draw is on Wednesday.

Long odds

Powerball, which is played in 44 states of the US, as well as Washington, D.C., Puerto Rico and the US Virgin Islands, was launched in 1992 and has a history of producing giant payouts.

In January last year, it gave the largest ever lottery payout of $1.586 billion, which was split between three tickets in California, Tennessee and Florida, and in 2013, it also produced the world’s largest one-ticket jackpot of $590.5 million to a lucky player in Florida.

The original version of Powerball gave a 50 million to one chance of landing the jackpot, but the game was revamped in 2015. Players are now required to choose five numbers from a choice of 56, along with one Power Ball number from 26, making the odds of successfully picking all six numbers an unlikely 292.2 million to one.

The long odds have not deterred millions of Americans from wagering on the competition, and those lucky enough to land the big prize have the choice of receiving a cash payment or a thirty-year annuity, though conditions for claiming the prize vary from state to state.

READ: If you want to win more AND win big, then here’s how.

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