Powerball jackpot hits $1.4B, largest global lottery prize ever

What to do when you win the Powerball
What to do when you win the Powerball
Powerball jackpot now at $1.3B
Powerball jackpot now at $1.3B
Powerball lottery reaches fever pitch
Powerball lottery reaches fever pitch

The biggest jackpot in U.S. lottery history just grew to $1.4 billion.

Strong sales for Wednesday night's drawing boosted the Powerball jackpot from the previous total of about $1.3 billion, the Texas lottery said Monday. The lump sum cash payout would be $867.9 million, it said.

The winner could also opt to receive the entire jackpot in annuities over 30 years. It will be the first U.S. lottery jackpot to reach $1 billion.

No ticket holder had all the winning numbers in Saturday night's $900 million drawing.

Saturday night's winning numbers were: 32, 16, 19, 57 and 34. The Powerball number was 13, with a multiplier of 3.

The prospect of a $900 million win had drawn long queues for tickets across the country. But the odds of matching all the numbers is 1 in 292.2 million.

Jeffrey Miecznikowski, an associate professor of biostatistics at the University of Buffalo said in an interview with Reuters that this meant an American was roughly 25 times more likely to become the country's next president that win a Powerball haul.

Or to put it another way, the odds are equivalent to flipping a coin 28 times and getting heads every time, he said.

"It doesn't sound so bad ... but you would be at it for an eternity," Miecznikowski said.

The Powerball has gone without a grand prize winner Nov. 7.

The previous U.S. record jackpot was $656 million in a Mega Millions drawing in March 2012. The largest Powerball prize was a $590.5 million jackpot won by a Florida woman in May 2013. Powerball tickets are sold in 44 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands.

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