Powerball prize climbs to $1 billion after 40 winnerless drawings

Dec. 11 (UPI) — The Powerball jackpot has jumped to $1 billion after no one stepped forward with the winning ticket in Wednesday night’s drawing.

It’s the second time the prize has climbed to a billion dollars this year, and the seventh biggest prize in the history of the game, Powerball said.

Powerball said the jackpot is worth an estimated $461.3 million in cash value. Winners have a choice between annual payments worth an estimated $1 billion, or receiving a lump sum cash prize.

The largest ever prize in the game’s history, $2.04 billion, was claimed on Nov. 7, 2002.

Since two tickets in Missouri and Texas split the $1.787 billion dollar prize on Sept. 6, there have been 40 consecutive drawings with no winner.

The next Powerball drawing is scheduled for Saturday.

The odds of winning are one in 292. 2 million, according to Powerball. Tickets are $2 each.