Powerball jackpot remains at $1.5 billion, will increase to $2 billion if no winner

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DES MOINES, Iowa (AP) — The latest on Wednesday’s Powerball drawing (all times local):

10:20 a.m.

A lottery official says the estimated Powerball jackpot remains at $1.5 billion, still the largest lottery jackpot in the world.

Kelly Cripe of the Texas Lottery says 85.8 percent of possible number combinations have been selected ahead of the drawing scheduled for Wednesday evening.

The odds of matching all six numbers to win the jackpot are 1 in 292.2 million.

The $1.5 billion prize would be paid in annual payments over 29 years or the winner could opt for a lump-sum payment of $930 million.

Cripe says if no one wins the jackpot Wednesday, the estimated jackpot for Saturday’s drawing will increase to $2 billion, with a cash value of $1.24 billion.

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1 a.m.

The largest lottery jackpot in the world is up for grabs in the latest Powerball drawing.

The prize has climbed to an estimated $1.5 billion, easily surpassing all other lotteries. The jackpot estimate is reviewed daily, so it could increase before Wednesday night’s drawing if ticket sales continue to exceed expectations.

The jackpot for the twice-weekly game started at $40 million on Nov. 4. No one has matched all six Powerball numbers since then, so the prize kept growing.

Lottery officials expect at least 80 percent of the 292.2 million number combinations will be purchased before the drawing.