Powerball jackpot hits $1 billion: Here's everything you need to know about the next drawing on Wednesday

The Powerball jackpot has risen to an estimated $1 billion as no one bought the winning ticket for the latest drawing. Nobody hit the estimated Powerball jackpot of $900 million on Monday. The white balls drawn were 5, 8, 9, 17, 41, and the red Powerball was 2.

The new jackpot price for Wednesday's drawing would be the third highest in US history. It will keep going up until someone hits the jackpot. Ticket buyers can win $1 billion in yearly increments or $516.8 million one-time lump sum before taxes. Until now, three people have won $2 million after matching all five numbers and the Power Play. According to the lottery officials, the prize winners are in Arkansas, Georgia, and Texas. Furthermore, five people have won $1 million after matching all five numbers. The winning tickets were from Connecticut, Florida, Kentucky, New York, and Pennsylvania.

The odds of winning a Powerball jackpot are 1 in 292.2 million. The officials have designed it to draw more players and create massive prizes. The largest Powerball ever recorded was $2.04 billion last November. Moreover, the last time someone hit a jackpot was in April 2019. It was nearly $253 million. Since then, no one has won the grand prize in the last 38 drawings.

Debbie Kempf, store director at Cosentino's Price Chopper in St.Joseph, told CBS News, the store saw an increase in sales as the jackpot prize increased. "Sometimes you'll see groups of people or families go together and pool their money and to purchase a larger amount — you know, more opportunity," she said.

The Powerball officials draw the winning numbers every Monday, Wednesday, and Saturday at 10:59 pm ET from the Florida Lottery draw studio in Tallahassee. The cost of each Powerball ticket is $2. They're available in 45 states of the United States, the District of Columbia, Puerto Rico, and the US Virgin Islands. Moreover, the live broadcast of the Powerball drawings is available on Powerball.com.

Players can purchase the tickets from a retail store authorised to participate inUS states. Players can buy tickets online through the state lottery agency in some US states. They can also participate using the online lottery ticket company Jackpot.com. The five numbers on the white ball are between 1 and 69, and the numbers on the red ball arebetween 1 and 26. Players can also add the Power Play feature for an additional $1.

(With inputs from agencies)

WATCH WION LIVE HERE