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What better way to start the new year than by winning the Powerball jackpot? The top lottery prize for the January 1 drawing increased to an estimated $500 million after no tickets were received from all six numbers in the 2021 final drawing.

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The winner, who must match the numbers on the five white balls (1-69) and the red Powerball (1-26), also has the option of claiming a one-time payment of an estimated $355.9 million before taxes.

The next drawing will be held on the first day of 2022 at 10:59 p.m. ET.

“Ticket sales have been strong during the holidays, and we expect the majority of ticket purchases for the next drawing to happen on New Years Day,” said May Shave Reardon, president of Powerball Product Group and executive director of the Missouri Lottery. said in a statement,

The Powerball jackpot increases until the winning ticket is sold. Winners can choose to receive their prize as an annuity, which is paid out in 30 payments over 29 years, or can take a lump sum payment. Federal and jurisdictional taxes apply to any payouts.

FILE – Powerball tickets at the Hub at Broadway on March 22, 2019 in Boston, Massachusetts. (Photo by Nicholas Jarnecki/Media NewsGroup/Boston Herald via Getty Images)

winning number Wednesday night drawing There were 02, 06, 09, 33, 39 and Powerball 11. Power Play was 2X.

While no one won the grand prize, one man in Georgia matched five balls—a $1 million prize, according to lottery official, There were also two winning double play tickets worth $500,000 each sold in Michigan and Puerto Rico.

Powerball drawings are held on Mondays, Wednesdays and Saturdays in 45 states, Washington DC, the US Virgin Islands and Puerto Rico.

The year 2021 brought six Powerball jackpot tickets, with winners claiming more than $2 billion in total, officials said. Three winners got lucky in January, followed by March, June and October.

The overall odds of winning the Powerball jackpot are only 1 in 292.2 million. To put this in perspective, those odds are slightly worse than tossing a coin and getting a straight head 28 times, says University of Nebraska-Omaha math professor Andrew Swift. previously told the Associated Press,

For those who feel lucky and are willing to spend $2 for a ticket, the overall odds of winning any prize are slightly better at 1 in 24.9.

The current estimated prize is a far cry from the US jackpot record, which was a Powerball prize of $1.586 billion in 2016. The three winning tickets were sold in California, Florida and Tennessee.

There have been many lottery winners whose stories have made news headlines, including an English couple who won just days before their teens son declared cancer free, But for those who are lucky, be sure to double-check the winnings before taking any drastic measures.

A Spanish television reporter appeared in 2019 Quit Your Job Live On Air After receiving a winning lottery ticket, it was later discovered that his payout was only $5,500.

This story was reported from Cincinnati.