Powerball Jackpot Hits $1.7B as Winning Remains Elusive

The Powerball jackpot has surged to an extraordinary $1.7 billion after no ticket matched all six numbers in Wednesday night’s drawing. The prize now ranks as the third largest in American lottery history, behind only two jackpots that topped $1.7 billion and $2 billion in recent years.

Next Powerball Draw Could Make History as Jackpot Rolls Over Again

Wednesday’s winning numbers were 3, 16, 29, 61, 69, and the red Powerball 22. The Power Play multiplier was 2. While nobody took home the grand prize, dozens of players secured smaller windfalls, including four tickets worth $2 million each and 11 tickets that earned $1 million prizes across multiple states.

The next drawing is scheduled for Saturday evening. It will mark the 42nd consecutive drawing without a jackpot winner, tying the record for the longest streak in Powerball’s history. The last time someone hit the jackpot was on May 31, when a California player won more than $600 million.

For those dreaming of becoming the next multimillionaire, winners face a decision between two payout options: an annuity of $1.7 billion spread over three decades, or a lump-sum cash option valued at about $770 million. Federal taxes would immediately reduce that figure by at least 24%, with the final amount depending on the winner’s total taxable income and their state of residence. In states like New York, lottery winnings can be taxed at rates as high as 10.9%, while residents of Florida, Texas, and California would avoid state-level deductions entirely.

Powerball’s Massive Jackpot Comes With High Stakes and Slim Odds

Financial experts warn that enormous prizes often come with unexpected challenges. Chicago-based attorney Andrew Stoltmann, who has represented more than a dozen lottery winners, noted that many past winners quickly lost their fortunes through reckless spending, poor investments, or pressure from friends and family, reported NBC.

Despite the staggering top prize, the odds of securing it remain unchanged at 1 in 292.2 million. The design of the game ensures these slim chances, which in turn help jackpots roll over and grow to eye-popping amounts. Still, Powerball continues to attract players nationwide. Tickets cost $2 and are sold in 45 states, the District of Columbia, Puerto Rico, and the US Virgin Islands. Drawings are broadcast live from Tallahassee, Florida, three times a week.

The growing prize has sparked excitement across the country, but it also highlights the harsh mathematical reality: while a jackpot may one day be claimed, millions of players will be reminded just how elusive a winning ticket can be.