US Powerball jackpot climbs to record-breaking $1.9bn

An already record-breaking US Powerball jackpot grew to a whopping $1.9bn (about R34bn) after no one secured a winning ticket in Saturday night's drawing, according to lottery officials.

The estimated $1.6bn (about R28.7bn) that was up for grabs on Saturday had been the largest lotto prize ever offered, Powerball said.

To win the big prize, a player must guess all six lucky numbers, including the final “Powerball.” The winning numbers drawn on Saturday were 28,45,53,56,69 and the Powerball 20.

The next chance for ticket buyers to clinch the jackpot will be Monday's draw, though they would have to overcome the steep odds of 1 in 292.2 million to secure a win.

No one has won the jackpot since August 3, when a lucky ticket holder from Pennsylvania took home over $200m, according to Powerball.

The prize money has since mushroomed, generating lots of business at petrol stations and news-stands around the US, where Americans buy Powerball tickets for $2 a pop.

Winners may decide to receive their money as an annuity, paid in 30 graduated payments over 29 years, or a lump sum cash payment. Both types of winnings are subject to federal and local taxes.

Reuters