It’s that time again. Lottery players are checking their tickets after Wednesday night’s Powerball drawing.
An estimated $653 million jackpot, with a cash option of $350.5 million, is up for grabs Wednesday. No one has won Powerball’s top prize since Nov. 19, according to the lottery game, causing the jackpot to grow bigger and bigger in recent months.
The chances of winning a Powerball jackpot are extremely slim, with odds standing at about 1 in 292.2 million.
If someone finally wins the jackpot on Wednesday, the estimated $653 million would only be distributed if a winner selects an annuity option paid gradually over 29 years. Most jackpot winners opt for the cash option – and the final amount taken home depends on state and federal taxes.
How much will a lottery winner get after taxes? Jackpot shrinks quite a bit.
Watch:If you ever hit a lottery jackpot, take these steps after winning
Here are Wednesday’s winning numbers.
Powerball winning numbers: 2/1/23
The winning numbers for Wednesday night’s drawing are 31, 43, 58, 59, 66, and the Powerball is 9. The Power Play was 2X.
What are my chances of winning Powerball?
While many lottery players may be tempted by Wednesday’s estimated $653 million jackpot, it’s important to note that the odds of winning Powerball’s grand prize are incredibly slim.
- The odds of winning a Powerball jackpot are about 1 in 292.2 million.
- The overall odds of winning a Powerball prize (across all tiers) are about 1 in 24.9.
Another record-breaking jackpot? Here’s why lottery prizes have grown so large.
More:Where’s California’s $2 billion Powerball lottery winner?
What states play Powerball?
Powerball can be played in 45 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands.
How do I play Powerball?
Powerball tickets cost $2 per play. To enter the game, players select (or opt to randomly receive) five numbers from one to 69 for the white balls, and one number from one to 26 for the red Powerball.
To win the jackpot, you need to match the numbers for all five white balls and the red Powerball.
Aside from the grand prize, depending on how many balls are matched, there are eight additional ways you can win a Powerball prize across the game’s non-jackpot tiers.
Tempted by the jackpot? Here’s how to play Powerball.
Non-jackpot prizes start at $4 and go up to $1 million. For an extra $1, you can opt into “Powerplay” – which multiplies non-jackpot winning prizes by 2, 3, 4, 5 or 10.
The 10X Powerplay is only available when the jackpot is $150 million or less, Powerball notes. The game’s second-tier “Match 5” prize is capped at $2 million for the Powerplay.
An additional add-on feature called “Double Play,” which gives players another chance to match their numbers after each Powerball drawing, is available in some jurisdictions for $1 per play.
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Largest lottery prizes in US history
- $2.04 billion, Powerball, Nov. 7, 2022: Won in California.
- $1.586 billion, Powerball, Jan. 13, 2016: Three winners in California, Florida, and Tennessee.
- $1.537 billion, Mega Millions, Oct. 23, 2018: Won in South Carolina.
- $1.348 billion, Mega Millions, Jan. 13, 2023: Won in Maine.
- $1.337 billion, Mega Millions, July 29, 2022: Won in Illinois.
- $1.05 billion, Mega Millions, Jan. 22, 2021: Won in Michigan.
- $768.4 million, Powerball, March 27, 2019: Won in Wisconsin.
- $758.7 million, Powerball, Aug. 23, 2017: Won in Massachusetts.
- $730 million, Powerball, Jan. 20, 2021: Won in Maryland.
- $699.8 million, Powerball, Oct. 4, 2021: Won in California.
Contributing: The Associated Press.
Story Credit: usatoday.com