Powerball's estimated jackpot hits $422 million

AP News
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Posted: Jul 27, 2016 7:23 AM
Powerball's estimated jackpot hits $422 million

DES MOINES, Iowa (AP) — The estimated Powerball jackpot has soared to $422 million thanks to nearly three months without a winner of the big prize.

If anyone matches the five balls and red Powerball in Wednesday night's drawing, it will be the game's first jackpot winner since May 7.

A jackpot winner could opt for a $422 million annuity paid out over 29 years or a $291 million lump sum. The prize would rank as the nation's 11th largest.

The chance of winning Powerball is incredibly small, at 292.2 million-to-1. But players have much better odds, of about 1 in 25, of winning smaller prizes ranging from $4 to $1 million.

The big Powerball prize comes less than three weeks after a player in Indiana won a $536 million Mega Millions jackpot.