DES MOINES, Iowa — The Powerball jackpot has increased to an estimated $1.23 billion after another drawing without a big winner Wednesday night.
The numbers selected were: 11, 38, 41, 62, 65 and the Powerball 15.
The jackpot, which now ranks as the eighth-largest in U.S. lottery history, has been growing for more than three months, reflecting the long odds of 1 in 292.2 million of winning the top prize. Since the last player won the jackpot Jan. 1, there have been 40 consecutive drawings without anyone matching all six numbers and hitting it rich.
Lottery officials note that thousands of people have won smaller prizes, which range from $2 to $2 million.
The $1.23 billion prize is for a sole winner who chooses to be paid through an annuity with 30 annual payments. Winners almost always prefer the cash option, which for the next drawing Saturday night would be an estimated $595.1 million.
People can pick their own numbers — and some play the same numbers each time — but most players opt for the quick pick option, which lets a computer generate random numbers.
Drawings are held every Monday, Wednesday, and Saturday at 10:59 p.m. EST at the Florida Lottery draw studio in Tallahassee.
Players can win a prize by matching one of the 9 ways to win. The jackpot is won by matching all five white balls in any order and the red Powerball.
Who runs the lottery games?
Powerball, and Mega Millions, the other big lottery game, are run separately but both are overseen by state lotteries. Powerball operates in 45 states plus Washington, D.C., Puerto Rico and the U.S. Virgin Islands. Mega Millions is played in 45 states as well as Washington, D.C., and the U.S. Virgin Islands.
The games don't operate in Alabama, Alaska, Hawaii, Nevada or Utah.
Both of the games raise money for the jurisdictions where they operate along with profits from other lottery games, such as scratch tickets. Some states shift the money into their general funds while others use it for specific purposes, such as funding college scholarships or state parks.
What are the odds?
The odds of winning the Powerball jackpot are 1 in 292.2 million, and it's those low odds that enable the game to trundle along without a winner for months. If the odds were better, people would win jackpots more frequently, so the top prizes wouldn't grow so large — and entice so many people to play.
That said, lottery officials note there have been millions of winning tickets during that span, with prizes ranging from $2 to $1 million. The overall odds of winning a prize are 1 in 24.87.
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A Powerball advertisement displays $999 million as tickets are sold Monday at the Las Palmitas Mini Market in in the Fashion District downtown Los Angeles.