Powerball jackpot grows to a staggering $850 million, the fourth largest in history

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By Kim Novak

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The Powerball jackpot is always a life-changing amount but the current total is one of its biggest yet, standing at a huge $850 million.

The jackpot has soared to the huge total after nobody managed to pick the winning numbers in Monday night's draw, meaning the current total is the fourth-highest the jackpot has ever been.

Nobody managed to match all six of Monday's numbers - 10 - 12 - 22 - 36 - 50 - and the Powerball 4, meaning the prize has rolled, and Wednesday's drawing will be a huge $850 million, which comes out to a cash value of £397.4 million, according to the Powerball website.

The prize total is only surpassed by three past jackpots which have been over $1 billion in total, according to the Multi-State Lottery Association.

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Whoever wins the Powerball jackpot is about to become rich beyond their wildest dreams. Credit: Mario Tama/Getty Images

The massive jackpot has amassed because there have been 29 consecutive draws without a grand prize winner.

The last time someone won the Powerball jackpot was on July 19, when a lucky winner in California bagged a $1.08 billion prize.

While nobody bagged the big one on Monday, there were some people who were celebrating as three tickets in Florida and one in Oregon matched five of the numbers to win $1 million each.

While the grand prize is a whopping $850 million, that sum is if the winner chooses to be paid out over 30 annual installments. If they choose to take their winnings as one lump sum, they'll get less than half at $397.4 million, which while it is a huge amount less, is still a very handsome win that will mean generations of their family won't have to work again.

Most people who manage to pick those lucky numbers do tend to go for the lump sum, meaning they face a mandatory federal tax, which also applies to those choosing to be paid out in 30 annual installments too.

Powerball is played in 45 states and the chances of winning are just one in 292.2 million - so those that have bagged the grand prize really are incredibly lucky.

Drawings are held every Monday, Wednesday, and Saturday, and the prize pot rolls over if nobody finds all six numbers.

While the grand prize is every entrant's dream, other life-changing sums can be won too, as experienced by a woman who won $1 million after he friend convinced her to get a ticket.

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There's a life-changing sum up for grabs if all six numbers are picked. Credit: Tasos Katopodis/Getty Images

Tiffany Brown managed to match the first five numbers, making her millionaire, but missed out on the - at the time - $638 million jackpot had her final number also matched.

The store that sold her the ticket is also set to receive a $10,000 prize for being the location the winning ticket was purchased from, so it pays to be the vendor, too.

Here's hoping someone bags tonight's grand prize and walks away a whole lot richer.

Featured image credit: Mario Tama/Getty Images

 

Powerball jackpot grows to a staggering $850 million, the fourth largest in history

vt-author-image

By Kim Novak

Article saved!Article saved!

The Powerball jackpot is always a life-changing amount but the current total is one of its biggest yet, standing at a huge $850 million.

The jackpot has soared to the huge total after nobody managed to pick the winning numbers in Monday night's draw, meaning the current total is the fourth-highest the jackpot has ever been.

Nobody managed to match all six of Monday's numbers - 10 - 12 - 22 - 36 - 50 - and the Powerball 4, meaning the prize has rolled, and Wednesday's drawing will be a huge $850 million, which comes out to a cash value of £397.4 million, according to the Powerball website.

The prize total is only surpassed by three past jackpots which have been over $1 billion in total, according to the Multi-State Lottery Association.

wp-image-1263230431 size-full
Whoever wins the Powerball jackpot is about to become rich beyond their wildest dreams. Credit: Mario Tama/Getty Images

The massive jackpot has amassed because there have been 29 consecutive draws without a grand prize winner.

The last time someone won the Powerball jackpot was on July 19, when a lucky winner in California bagged a $1.08 billion prize.

While nobody bagged the big one on Monday, there were some people who were celebrating as three tickets in Florida and one in Oregon matched five of the numbers to win $1 million each.

While the grand prize is a whopping $850 million, that sum is if the winner chooses to be paid out over 30 annual installments. If they choose to take their winnings as one lump sum, they'll get less than half at $397.4 million, which while it is a huge amount less, is still a very handsome win that will mean generations of their family won't have to work again.

Most people who manage to pick those lucky numbers do tend to go for the lump sum, meaning they face a mandatory federal tax, which also applies to those choosing to be paid out in 30 annual installments too.

Powerball is played in 45 states and the chances of winning are just one in 292.2 million - so those that have bagged the grand prize really are incredibly lucky.

Drawings are held every Monday, Wednesday, and Saturday, and the prize pot rolls over if nobody finds all six numbers.

While the grand prize is every entrant's dream, other life-changing sums can be won too, as experienced by a woman who won $1 million after he friend convinced her to get a ticket.

wp-image-1263230433 size-full
There's a life-changing sum up for grabs if all six numbers are picked. Credit: Tasos Katopodis/Getty Images

Tiffany Brown managed to match the first five numbers, making her millionaire, but missed out on the - at the time - $638 million jackpot had her final number also matched.

The store that sold her the ticket is also set to receive a $10,000 prize for being the location the winning ticket was purchased from, so it pays to be the vendor, too.

Here's hoping someone bags tonight's grand prize and walks away a whole lot richer.

Featured image credit: Mario Tama/Getty Images