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$1.4B Powerball drawing tonight
A $1.4 billion Powerball jackpot is up for grabs tonight. FOX 5 NY's Duarte Geraldino has the latest.
NEW YORK - The Powerball jackpot has reached $1.7 billion after no one won the prize last night. Find out when the next draw is and how much the jackpot would pay if you live in New York.
Powerball jackpot
What we know:
The next drawing will be this Saturday, September 6. It will set the record for the most consecutive drawings without a big winner.
The $1.7 billion is for a winner who opts to receive 30 payments over 29 years through an annuity. Jackpot winners almost always choose the game's cash option, which for this drawing would be an estimated $770.3 million, before taxes.
How Powerball works
The backstory:
Powerball tickets cost $2, and the game is offered in 45 states plus Washington, D.C., Puerto Rico and the U.S. Virgin Islands. The odds of winning the jackpot are 1 in 292.2 million.
Drawings are broadcast live every Monday, Wednesday and Saturday at 10:59 p.m. and are streamed on Powerball.com.
Powerball jackpot payout in NY
Local perspective:
The payout of a $1.7 billion jackpot in New York would amount to $886,989,390 after 30 payments, or $401,369,280 in one lump sum, after state taxes, according to USA Mega.
An additional withholding is imposed if the winner lives in either New York City or Yonkers.
Here’s a breakdown of what you would get paid in each state if you won the $1.7 billion Powerball jackpot.
Biggest Powerball jackpots
The Source: This article includes information provided by USA Mega.