A string of drawings without a jackpot winner have grown the estimated Powerball jackpot to its highest level since February. Because of the high jackpot, the Nebraska Lottery reminds customers to play responsibly.
The Powerball jackpot starts at $40 million and continues to grow by at least $10 million each drawing until it is won. There have been 13 consecutive Powerball drawings since June 27 without a jackpot winner. This run has grown the estimated jackpot for the Saturday, August 11 drawing to $253 million or $170.5 million with the cash option selected. If won, this will be the 12th largest jackpot in Powerball history.
Nine jackpots ranging from $2.5 million to $365 million have been won in Nebraska since the Nebraska Lottery began offering Powerball in July of 1994. The highest recorded Powerball jackpot was in February 2006 when a group of eight coworkers at the ConAgra Foods ham and corned beef plant in Lincoln split a $365 million jackpot.
Powerball jackpot winners have two options for collecting their payment: 30 annuity payments or one cash payment at present value. The annuity option provides annual payments that increase each year. The present cash value is less than the advertised jackpot, which is based on the 29-year annuity option.