The Powerball jackpot is climbing again, jumping to $653 million after no winning tickets were drawn on Monday.
The jackpot ranks as the eighth-largest in Powerball history.
The $653 million prize is for winners who choose to take their riches through an annuity, paid annually over 29 years. Nearly all winners opt for cash, which is currently estimated at $350.5 million.
Those winnings also would be subject to federal taxes. Many states tax lottery winnings, too.
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No one has hit all six numbers since Nov. 19, 2022, when a ticket in Kansas matched all five white balls and the red Powerball to win a $92.9 million jackpot. That's 31 consecutive draws without a jackpot winner. The winless streak is due to the abysmal odds of winning: one in 292.2 million.
The longer the game goes without a grand prize winner, the larger the payout will grow. And with huge jackpots becoming increasingly common in lottery drawings — with six grand prizes between Powerball and Mega Millions surpassing $1 billion since 2016 — this latest Powerball streak could very likely become the seventh.
The largest lottery jackpot in U.S. history stands at $2.04 billion and was won by a single Powerball ticket in California on Nov. 7, 2022. No one has come forward to claim their prize, though the winner has until November 2023 before the ticket expires.
Powerball is played in 45 states, the District of Columbia and Puerto Rico. It costs $2 to play.
Drawings are held each Monday, Wednesday and Saturday at 10:59 p.m. ET.