$747 Million Powerball Jackpot to #9 as Draw Approaches

DES MOINES, Iowa — A Powerball jackpot of $747 million will be up for grabs on Monday night for players willing to risk $2 against the very long odds of winning the jackpot.

No one has won the jackpot since Nov. 19, 2022, allowing the prize to grow with each of the game’s three weekly draws. It’s now the ninth-largest in US history.

The game’s abysmal odds of 1 in 292.2 million are designed to create big prizes that attract more players. This strategy has certainly worked recently, as someone won a Mega Millions prize of $1.35 billion in January and a player from California won a record $2.04 billion Powerball jackpot last November. No one claimed either of these prizes.

The $747 million jackpot is for winners who opt for an annuity, paid over 29 years. Higher interest rates allowed these annuity payments to increase relative to previous jackpots, when rates were lower.

Most winners prefer cash, which for Monday night’s draw would be $403.1 million.

Powerball is played in 45 states, as well as Washington, DC, Puerto Rico, and the US Virgin Islands.

ABC News

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