The jackpot for the Nov. 5 Powerball drawing is an estimated $1.6 billion. Photo: Kelly Tyko/Axios
The winning Powerball numbers have been announced for Saturday’s $1.6 billion drawing jackpot — the world’s largest-ever lottery jackpot.
Driving the news: Whether someone won the jackpot was not immediately known late Saturday and is expected to be announced early Sunday.
The big picture: The cash option for the Nov. 5 drawing is an estimated $782.4 million, according to the Powerball website.
- Aug. 3 was the last time the Powerball jackpot was won and the jackpot has rolled 39 times since then.
- If no one wins the jackpot in Saturday’s drawing, Powerball officials said it will tie the game record for the number of consecutive drawings without a grand prize winner.
Winning Powerball numbers for Saturday drawing
The winning numbers in the drawing were 28, 45, 53, 56 and 69 with a red Powerball of 20.
Powerball jackpot annuity versus cash
How it works: In theory, Powerball jackpot winners can choose an “annuity option” instead of just taking the amount of money in the prize pool, Axios’ Felix Salmon reports.
- The annuity option is an annual payout over 30 years, with the sum paid out rising by 5% each year. The headline jackpot size is not the amount in the prize pool but rather the size of all those 30 payments, added together.
- No one has chosen the annuity option since 2014.
Powerball winning odds versus Mega Millions
Between the lines: Since the Powerball numbers are drawn from two sets of numbers, the lottery said the odds of winning a prize are calculated by combining the odds for both sets of numbers for all prize levels.
- The odds of winning the Powerball jackpot are 1 in 292.2 million.
- The overall odds of winning a prize are 1 in 24.9.
Yes, but: The jackpot odds for Mega Millions are 1 in 303 million.
Powerball ticket prices
Powerball tickets are $2 per play but for an extra $1 per play you can add the Power Play feature to “multiply non-jackpot prizes by 2, 3, 4, 5 or 10 times.”
Editor’s note: This story is developing and will be updated.
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