The upcoming $1.4 billion Powerball jackpot is the world’s fifth-largest lottery prize due to higher interest rates, long odds, fewer ticket sales per drawing, and luck.
Dareus White buys a Powerball ticket at Cigarettes and More on Wednesday, Oct. 4, 2023, in Pineville, N.C. A combination of all those factors means that unless there is a winner soon, the jackpot could top the record lottery prize ofand since then it has grown three times a week, with each drawing on Mondays, Wednesday and Saturdays without a winner. It started at $21 million on July 22 and after 33 straight drawings in which no one matched all six numbers drawn, it has reached $1.
For Wednesday night’s drawing, roughly 25% of the 292.2 million possible Powerball combinations were selected, according to the Multi-State Lottery Association. That was up from about 20% for the drawing Monday night. The lottery association forecasts that for Saturday night’s drawing, sales will increase enough that nearly 38% of number combinations will be covered — in part because Saturday sales usually are higher.
Initially, the giant prizes attract giant sales. For example, on Jan. 13, 2016, when a Powerball prize reached $1.5 billion — a record then, but close to what’s up for grabs Saturday — sales were so high that 88.6% of possible number combinations were covered. That’s more than double the sales expected this Saturday.
Alan Feldman, a distinguished fellow at the University of Nevada, Las Vegas' International Gaming Institute, said that state lotteries have worked hard to keep their games lively but that it is inevitable some people will lose interest over time.DON'T EXPECT A CHECK FOR $1.4 BILLION
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$1.4 billion Powerball prize is a combination of interest rates, sales, math — and luckThe upcoming $1.4 billion Powerball jackpot is the world’s fifth-largest lottery prize due to higher interest rates, long odds, fewer ticket sales per drawing, and luck. A combination of all those factors means the jackpot could eventually top the record lottery prize of over $2 billion won last November. Someone last won the Powerball jackpot on July 19. Since then it has grown three times a week. The winless streak shouldn’t be a surprise because it shows the game is operating as it was designed. The immense jackpot odds are intended to make winning rare so the grand prizes can grow so large.
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$1.4 billion Powerball prize is a combination of interest rates, sales, math — and luckThe upcoming $1.4 billion Powerball jackpot is the world’s fifth-largest lottery prize due to higher interest rates, long odds, fewer ticket sales per drawing, and luck
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$1.4 billion Powerball prize is a combination of interest rates, sales, math — and luckThe upcoming $1.4 billion Powerball jackpot is the world’s fifth-largest lottery prize due to higher interest rates, long odds, fewer ticket sales per drawing, and luck
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Powerball prize reaches $1.4 billion after 33 drawings without winnerJustin Boggs is a writer for the E.W. Scripps company. Justin covers anything from politics to sports and entertainment.
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Powerball jackpot: Everything you need to know about $1.2 billion prize on offer tonightThe Powerball jackpot has jumped to an estimated $1.2 billion, the third largest jackpot in history according to the lottery.
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