US Powerball Jackpot Reaches $1 Billion for Second Time This Year

The upcoming Powerball drawing on Saturday night features an estimated $1 billion jackpot, marking the 14th time the US lottery has reached this milestone and the second such jackpot this year. The jackpot increased after no winner claimed the $930 million prize in Wednesday's drawing. The $1 billion advertised prize represents the annuity option paid over 29 years, while the lump sum payout is estimated at $457.7 million, both before taxes. Lottery winners typically opt for the lump sum. Besides the jackpot, smaller prizes are available, such as $1 million for matching five numbers but not the Powerball.