Powerball jackpot swells to $550 million

The Powerball jackpot swelled to an estimated $495 million, creating the largest jackpot of 2019, after no one held a winning ticket in Wednesday night’s drawing.

The Powerball jackpot has been growing since late December and is the largest Powerball jackpot since the $687.8 million shared by two winning tickets in October. But it is still nowhere near the record $1.586 billion jackpot, shared among three winning tickets on Jan. 13, 2016.

The next Powerball drawing will take place at 10:59 p.m. Eastern time on Saturday.

That estimated $495 million is the amount awarded if the annuity option, with payments spread out over 30 payments, is chosen; the cash option would pay out an estimated $300.2 million all at once, all before taxes.

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