U.S. Powerball jackpot hits $1.6 billion

Lotto fever is gripping the US after more than three months without a winner in the country’s premiere lottery game.

The Powerball jackpot advertised for today has grown to the biggest the world has ever seen…an estimated pre-tax prize of $1.6 billion.

That tops the previous record of $1.59 billion, split between three players in 2016.

The odds of winning the jackpot are one in 292 million.

Whoever holds the golden ticket has the option of receiving the full amount in an annuity paid over three decades.

However, almost all winners opt for the upfront cash option, where they can receive a smaller amount as a lump sum.

The cash prize for tonight’s draw is currently estimated at $782.4 million.

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