Powerball jackpot climbs to $610M

Fox Business Flash top headlines for January 5

Check out what’s clicking on FoxBusiness.com.

The Powerball jackpot surpassed the $600 million mark ahead of Wednesday's drawing, lottery officials said. 

Now, lottery players have a chance to nab the estimated $610 million jackpot, which marks the seventh largest prize in Powerball history.  

CLICK HERE TO READ MORE ON FOX BUSINESS

The cash value of the jackpot is estimated at $434.2 million. 

The jackpot reached $540 million ahead of Monday's drawing. But after no ticket matched all five numbers, sales jumped across the country, officials said. 

However, there were still more than 1.8 million tickets that won a cash prize to some degree. 

Powerball ticket (REUTERS/Andrew Kelly / Reuters Photos)

"Although no one hit the jackpot, we had more than 1.8 million tickets win a cash prize in last night’s drawing," said May Scheve Reardon, Powerball Product Group chair and Missouri Lottery executive director. "Players should check their tickets for one of the nine ways to win."

The winning numbers in Monday's drawing were 02, 13, 32, 33 and 48. The Powerball number was 22.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

The jackpot winner can be paid through an annuity over 29 years, or they can opt for a lump sum payment. Both options are subject to federal and jurisdictional taxes.  

Powerball set a world record for the largest jackpot in 2016 when a $1.586 billion prize was shared amongst winners in California, Florida and Tennessee.

Lottery players have a 1 in 292.2 million chance of winning the Powerball jackpot. 

Source: Read Full Article