SUMMARY: The Powerball jackpot has reached an estimated $1.2 billion, making it one of the largest lottery prizes in history. No one won the jackpot in the most recent drawing, leading to the massive increase in the prize. The odds of winning the Powerball jackpot are 1 in 292.2 million. The new $1.2 billion jackpot can be claimed as an annuity paid over 30 years or as a lump sum of $551.7 million. The previous largest Powerball jackpot of $1.08 billion remains unclaimed. Powerball tickets are sold in 45 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.

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