Powerball jackpot reaches historic $1.5 billion

The jackpot has ballooned since its November 4 starting point of $40 million. Since then, there have been 19 consecutive drawings without a top prize victor.

While the Powerball jackpot continues to grow, a lucky Broome County Lottery player won $50,000 on a ticket sold at Friendly Food Mart at 1308 East Main St.in Endicott over the weekend. But as lottery officials often note, you have no chance of winning if you don’t buy a ticket.

The Powerball jackpot for Wednesday’s drawing is now an estimated $1.5 billion, officials said.

The cash option for that jackpot is $868 million.

The high jackpot clearly was the draw for new players, hoping that they land the highly unlikely combination that will net them the big jackpot or another lower prize. “In the 26-year history of the Lottery, more than $694.5 million has been generated to support our good causes”, said Jeff Anderson, Idaho Lottery Director. The new system changed the odds from 1 in 175 million to 1 in 292.2 million.

It’s because the jackpot is actually $930 million (before taxes) if the victor decides to take a lump sum payment. Forty-four U.S. states participate, as well as the District of Columbia, the U.S. Virgin Islands and Puerto Rico.

By Monday morning the prize was at $1.3 billion, and on Tuesday it rose even higher. All six numbers must be correct to win, although the first five can be in any order. If the victor is from Allen County, the county, which has a 1.35 percent local income tax, will get $13.5 million, the state would get $33 million, and you might end up with a billionaire for a neighbor.

Other tickets of varying amounts also won prizes Saturday.

The jackpot is so big that billboards around the country have to advertise the price as $999 million because they’re not built to show billions.