US $1.7 billion Powerball jackpot offers a chance at a festive fortune

By Aleksandra Michalska NEW YORK, Dec 24 (Reuters) – The U.S. Powerball jackpot climbed to $1.7 billion ahead of Wednesday night's drawing, putting one of the biggest lottery prizes in American history within reach — just in time for Christmas. The jackpot swelled after Monday's drawing produced no winners, allowing the payout to climb. The next drawing was set for 10:59 p.m. ET on Wednesday (0359 GMT on Thursday), with the odds of winning the jackpot at 1 in 292.2 million. Players may choose between an annuitized payout of $1.7 billion over 29 years or a lump-sum cash option of about $781.3 million before taxes, according to the lottery website. The jackpot is the fourth-largest in Powerball history and among U.S. lottery games, raising hopes among players. "The chance of winning the lottery is, like, less than getting hit by lightning, and sometimes I think my lottery is going to get hit by lightning," said New York musician Richie Vitale, 71, showing five lottery tickets he bought on Wednesday. "I think, 'Let's be more hopeful and take a chance,' and I don't buy lottery tickets all the time." The jackpot has been won once on Christmas Eve in 2011 and four times on Christmas Day. Nationwide, nine secondary prizes of $1 million were claimed in the last drawing on Monday. The largest Powerball jackpot ever was $2.04 billion, won in California in 2022, representing the largest U.S. lottery prize on record. Large jackpots tend to bolster ticket sales, boosting revenue for state lottery funds that support education and other public spending. "It's scary, scary and exciting and a little bit daunting because what would one do with so much money? But we'll see, we hope," said New York resident Carl Schmehl after buying tickets. "I would like to try to give a lot of money away and help people and, I don't know, share it." (Reporting by Reuters; Editing by Howard Goller)

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