The odds of a catastrophic mass-extinction impact are extremely small.  Statistically, this type of impact should happen about once every 20 million years.  To put this in perspective, here are some approximately comparable scenarios:
or
or
Statistical Odds
of an
Asteroid Impact
As you can see, this kind of impact is almost never going to happen.  That, however, does not mean that it cannot happen.  It is also important to remember that these estimates are based only on the asteroids that we know of.  And what we don't know can hurt us!
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