Since the changes came into effect, the starting jackpot has been $20 million and rollover increases have been at least $2 million. Previously, the starting jackpot was $40 million and there was a minimum rollover of $10 million. Powerball officials eliminated a guaranteed level for the lowest jackpot during the coronavirus pandemic due to falling ticket sales as players stayed at home. Visit the Jackpot Analysis to see a breakdown of the current annuity and lump sum payouts and how federal and state taxes affect them. The estimated jackpot includes an annuity figure and the cash alternative if you would prefer to take it as a lump sum. If there are multiple winners, it is split between them. If you win the jackpot, the amount is the same no matter where you live or bought your ticket. The jackpot value is the same across all 48 jurisdictions where Powerball is played. Robert Salvato Jr., a 60-year-old electrician, bought 40 Powerball tickets at a hardware store in Billerica, Massachusetts.The jackpot increases by $2 million per draw as a minimum, although it's typically a lot more in practice. That didn’t bother those eager to plunk down their money on Wednesday for a long-shot chance at instant wealth. And wins in recent months have been few and far between.

Powerball’s terrible odds of 1 in 292.2 million are designed to generate big jackpots, with prizes becoming ever larger as they repeatedly roll over when no one wins.

The only top prize that was ever bigger was the $2.04 billion Powerball won by a player in California last November. Final ticket sales pushed the jackpot beyond its earlier advertised estimate of $1.73 billion for Wednesday night’s drawing. That streak trails the record of 41 draws set in 20. The jackpot is the world’s second-largest lottery prize after rolling over for 36 consecutive drawings. Before someone won the giant prize, there had been 35 consecutive drawings without a big winner, stretching back to July 19 when a player in California matched all six numbers and won $1.08 billion.

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