$700M Powerball prize latest in string of giant jackpots

DES MOINES, Iowa (AP) — No, it’s not lottery deja vu.

There really is another giant lottery jackpot up for grabs Saturday night, the latest in a string of big prizes enticing players to plunk down $2 and try to beat formidable odds.

This time, it’s an estimated $700 million Powerball jackpot drawing, which ranks at the 10th largest in U.S. lottery history. It comes on the heels of a $1.35 billion Mega Millions prize won by someone in Maine less than three weeks ago and a record $2.04 billion Powerball jackpot won by a California player last November.

The prizes grow so large because the odds of winning them are so long, at one in 292.2 million for Powerball. That allows jackpots to roll over week after week, getting bigger and bigger.

The last time someone won the Powerball jackpot was Nov. 19, 2022.

The $700 million prize is for a winner who chooses to be paid over 29 years through an annuity. Nearly all jackpot winners prefer a one-time check, which for Saturday’s drawing would be an estimated $375.7 million.

Here is a look at the 10 largest U.S. jackpots that have been won and the states where the winning tickets were sold:

1. $2.04 billion, Powerball, Nov. 8, 2022 (one ticket, from California)
2. $1.586 billion, Powerball, Jan. 13, 2016 (three tickets, from California, Florida, Tennessee)
3. $1.537 billion, Mega Millions, Oct. 23, 2018 (one ticket, from South Carolina)
4. $1.35 billion, Mega Millions, Jan. 13, 2023 (one ticket, from Maine)
5. $1.337 billion, Mega Millions, July 29, 2022 (one ticket, from Illinois)
6. $1.05 billion, Mega Millions, Jan. 22, 2021 (one ticket, from Michigan)
7. $768.4 million, Powerball, March 27, 2019 (one ticket, from Wisconsin)
8. $758.7 million, Powerball, Aug. 23, 2017 (one ticket, from Massachusetts)
9. $731.1 million, Powerball, Jan. 20, 2021 (one ticket, from Maryland)
10. $699.8 million, Powerball, Oct. 4, 2021 (one ticket, from California)

Powerball is played in 45 states, as well as Washington, D.C., Puerto Rico and the U.S. Virgin Islands.

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