NEW YORK — One of the richest Powerball jackpots ever offered is up for grabs Saturday, with the multi-state lottery’s grand prize reaching an estimated $380 million after the previous drawing failed to produce a winner.
Powerball jackpots start at $40 million and grow until at least one player comes up with the winning number at a drawing.
The jackpot winners either receive payments over 29 years or a smaller cash lump sum. The cash option for the jackpot was about $257 million.
The biggest Powerball jackpot awarded by the Multi-State Lottery Association was $590.5 million and went to the holder of a single winning ticket in 2013. The association also operates the Mega Millions jackpot, which awarded a top prize of $656 million three years ago.
Game drawings for Powerball, played in 44 U.S. states, the District of Columbia and the U.S. Virgin Islands, are held Wednesdays and Saturdays at 10:59 p.m. in Tallahassee, Florida.
Powerball sales reached nearly $5 billion last year for game tickets that are sold through more than 210,000 lottery terminals. Each ticket costs $2.
The odds of winning the Powerball jackpot are one in 175 million.