Powerball Jackpot Nears $1 Billion as Almost Three Months Pass by Without a Winner

One of the two largest lotteries in the U.S. has not had a winner in almost three months, which means that its prize continues to increase, to the point of reaching close to $1 billion at the moment.

Concretely, Powerball's jackpot currently stands at $935 million following 37 consecutive drawings without a winner. The record for consecutive drawings stands at 41, being set twice in 2022 and 2021.

The last time someone took the top prize was on New Year's Day. It's not that surprising, considering that the odds of taking it are one in 292.2 million. If someone indeed wins on Saturday, they can take $935 if they are the only winners and choose an annuity paid over 30 years.

Winners who choose the cash would be paid a little over half: 452.3 million. The prizes would be subject to federal taxes, and many states also tax lottery winnings, The Associated Press clarified.

The other large U.S. lottery, Mega Millions, awarded a $1.13 billion jackpot after someone bought the winning ticket in New Jersey.

The jackpot had been growing since early December, as it's the case when there are no winners in each one of the drawings. This was the 31st drawing, and odds of getting all of Mega Millions' six numbers right is one in more than 300 million.

Mega Millions said in a statement that only four previous jackpots have been higher than this one, "including the game's current record prize of $1.602 billion, won in Florida last August 8."

"This is exciting news, not just for our players, but also for lottery-funded beneficiary programs in each jurisdiction," said Georgia Lottery President and CEO Gretchen Corbin, lead director of the Mega Millions Consortium.