DES MOINES, Iowa (AP) — Another huge lottery jackpot will be on the line Saturday night for players willing to put up $2 against daunting odds of actually winning the top prize.
The estimated $700 million Powerball jackpot is the 10th largest in U.S. lottery history and the latest in a string of huge lottery prizes. Someone in Maine won a $1.35 billion Mega Millions prize less than three weeks ago and a California player won a record $2.04 billion Powerball jackpot last November.
The jackpots grow so large because the tough odds offer just a miniscule chance of matching all six numbers and winning the top prize. That enables the jackpots to roll over and increase for months.
The last time someone beat the odds of one in 292.2 million and won the Powerball jackpot was Nov. 19, 2022.
The $700 million estimate is for a winner who is paid through an annuity over 29 years. Winners usually opt for cash, which for Saturday night’s drawing would be $375.7 million.
Powerball is played in 45 states, as well as Washington, D.C., Puerto Rico and the U.S. Virgin Islands.