Powerball's Lottery Jackpot Reaches Estimated $1 Billion

This is only the second time in Powerball history that the estimated jackpot has been $1 billion high.

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Winning the Powerball lottery jackpot requires a ticket holder to match six numbers from the Powerball drawing.

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The odds of winning the Powerball jackpot are about one in 292.2 million.

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The Powerball winning numbers from the Saturday, October 29 drawing were 19, 31, 40, 46, 57 and the Powerball was 23.

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The advertised cash value of the Powerball lottery for Saturday's drawing is about $497.3 million.

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While $1 billion is a bunch of money and $497.3 million is a lot of cash, Monday’s lucky Powerball lottery winner will also be looking at some hefty tax bills.

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The IRS withholds 24% of the winnings off the top.

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