Powerball jackpot balloons to $925 million

Sept. 28 (UPI) -- Powerball lottery participants will again play for a shot to win the fourth-largest jackpot in the game's history but at a significant increase -- an estimated $925 million on Saturday after no one matched the winning numbers on Wednesday.

No ticket matched the winning numbers of 1, 7, 46, 47 and 63 with the red Powerball 7. The jackpot at that time was $835 million, qualifying for potentially the fourth-largest pool. The new jackpot has a current cash value of $432.4 million.

"The Powerball jackpot was previously won on July 19, when a ticket in California matched all five white balls and the red Powerball to win a $1.08 billion jackpot," Powerball said in a statement. "Since then, there have been 30 consecutive drawings without a grand prize winner."

If this jackpot or the next one reaches $1 billion, it would be the first time ever that Powerball offered billion-dollar jackpots twice in the same year, which seems to be an increasing trend.

America's other lottery game, Mega Millions, has already produced two billion-dollar winners this year. On Jan. 13, a ticket in Lebanon, Maine won a $1.348 billion jackpot. Then on Aug. 8, $1.602 billion was won with a ticket purchased at Publix in Neptune Beach, Fla.

Mega Millions' next drawing is Friday with a current jackpot of $267 million and a cash value of $123.6 million.

If a player wins the jackpot on Saturday night, they will have the choice between an annuitized prize worth an estimated $925 million or a lump sum payment estimated at $432.4 million. Both prize options are before taxes. If the winner selects the annuity option, they will receive one immediate payment followed by 29 annual payments that increase by 5% each year.