$1.4 Billion Powerball Jackpot Set For Wednesday Drawing

Posted: Jan 11 2016, 10:54am CST | by , in News | Latest Political News


$1.4 Billion Powerball Jackpot Set for Wednesday Drawing

The Powerball drawing on Saturday did not have any winners. The new jackpot is estimated to be now $1.4 billion.

Nobody had the winning numbers for the $949 million Powerball jackpot in the Saturday drawing. As anticipated the Powerball jackpot is now more than $1 billion. The lottery company estimates the jackpot to be way more than $1 billion. Initially the estimated jackpot was $1.3 billion with a $806 million cash option. 

Now the lottery company updated the jackpot for the Wednesday drawing to $1.4 billion with a cash option of $868 million.

As interest in the already record-breaking jackpot of $949.8 million was insane, now the drawing for the $1.4 billion on Wednesday will motivate even more players to buy a ticket who never play the lottery. The cash option could still rise above $1 billion in the upcoming drawing.

The next Powerball lottery drawing is on Wednesday, Jan. 13, 2016.

The biggest jackpot so far was $656 million in the 2012 Mega Millions lottery. There was also a huge Powerball jackpot in 2015. Three winners shared a $564 million jackpot.

The current estimated $1.3 billion Powerball jackpot has a cash value of $806 million. 

The $1.4 billion would be paid out via an annuity plan over 29 years. The cash option value is what the winner would get taking the money right away, before taxes are deducted.

The latest winner story shows that it does not matter how many tickets you buy. Julie Leach won a $310.5 million jackpot with a $20. The odds are just that bad with 1 in 292,201,338.00 for the grand prize. To win $4 the odds are 1 in 38.32.

Powerball costs $2 for a single play for one drawing. To add the Power Play multiplier, it costs an additional $1 for each play. The next drawing will be on Saturday, January 9.

The Powerball lottery is available in 44 states, District of Columbia, the U.S. Virgin Islands and Puerto Rico. 

Powerball publishes the winning numbers at the Powerball site.

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The Author

<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Luigi Lugmayr () is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com.




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