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Powerball $478 million jackpot is nation’s 8th largest

FILE - In this Jan. 13, 2016 file photo, a clerk hands over a Powerball ticket for cash at Tower City Lottery Stop in Cleveland. Powerball estimates that its jackpot for the May 4, 2016, drawing is $348 million. (AP Photo/Tony Dejak, File)

DES MOINES, Iowa (AP) — Powerball players have a shot at the nation’s eighth-largest lottery jackpot, but they should keep in mind that their dreams of riches likely won’t become a reality.

The odds of a winning ticket in Saturday night’s drawing for a $478 million prize are incredibly small: one in 292.2 million.

It’s because of those odds that there hasn’t been a winner since May 7, when a family from New Jersey won a $429.6 million jackpot. The nation’s biggest prize was January’s $1.6 billion Powerball jackpot.

The drawing will take place at 10:59 Eastern time, when tumblers filled with balls will select the five numbers and single Powerball. If there isn’t a winner, the jackpot will increase and another drawing will be held Wednesday.

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