Powerball Jackpot Could Hit $1 Billion

Powerball Jackpot Could Hit $1 Billion
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There were no winners who got all six numbers to the Powerball jackpot drawn Wednesday night.


It is the 18th consecutive time this has happened, Sydney Morning Herald reports. Saturday’s draw, as a consequence, has been increased to a record $700 million. If the jackpot reaches $1 billion, it will become more than the gross domestic product of nine countries, as reported by Sydney News Herald. According to the World Bank, these countries are Comoros, Dominica, Tonga, Sao Tome and Principe, Micronesia, Palau, Marshall Islands, Kiribati and Tuvalu.

The prize of $700 million, largest lottery reward in U.S. history, is for an annuity that is paid out over 30 years. If required immediately, one will be paid an estimated $428.4 million cash payout.

Lottery officials in Virginia said that as much as $21,600 worth of lottery tickets are expected to be sold per minute during peak time through Saturday.

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In Maryland, the prize money could increase before Saturday’s draw. Gordon Medenica, director of the Maryland lottery, said, “This is just one of those rate times when everybody is talking about the Powerball jackpot.” Maryland officials sold $6 million worth of tickets on Wednesday, as reported by the Washington Post.

Wednesday night’s draw was increased after no one won the lottery. The numbers of Wednesday’s draw were 2, 11, 47, 62 and 63, and the Powerball of 17.

Carole Everett, Maryland Lottery division spokeswoman, said the jackpot can be rolled over for as many times it can till “someone hits” the jackpot.

A few people won either $1 million or $2 million prizes on Wednesday. Lottery officials say that the chances of hitting the jackpot are 1 in 292.2 million.

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