Powerball Swells to $900 Million

The Powerball jackpot skyrocketed to $900 million after nobody picked all 6 winning numbers in Saturday’s drawing, making it the third-biggest prize in the game’s history. After no grand prizes for 37 drawings, the record-setting jackpot could be claimed as soon as Wednesday, when the next drawing takes place. That said, players who defy the odds and pick all 5 numbers plus the elusive Powerball — a 1 in 292 million chance — might be surprised to know that the sum they will actually take home if they win is far less than the jackpot. While awarded immediately, players can expect their winnings cut by roughly 30% if they need the cash now, meaning the $900 million jackpot would actually pay somewhere around $465 million. More patient players would have access to the full amount via the game’s annuity option, paid out in installments over the course of 29 years. Any way you look at it, if you happen to win the entire jackpot — whether you take the lump sum or the annuity payments — you’ll be one wealthy person.