The Powerball jackpot has surged to an estimated $750 million for the drawing on Saturday night, following an increase from its previous estimate of $725 million. This makes it the 7th largest jackpot in the history of the game. The cash value for the jackpot now stands at $350.6 million before taxes.
Winners of Saturday night’s drawing will have two options: a lump sum payment estimated at $350.6 million or an annuitized prize worth an estimated $750 million. For those who opt for the annuity, the prize consists of one immediate payment followed by 29 annual payments that increase by 5% each year. Both prize options are before taxes.
The last time the Powerball jackpot was claimed was on July 19, when a ticket from California secured a staggering $1.08 billion. This was the third time that a Powerball jackpot had crossed the billion-dollar threshold. Since that win, the Powerball has rolled over 27 times without a jackpot winner.
Wednesday’s drawing failed to produce a jackpot winner. The numbers for the drawing were white balls 16, 27, 59, 62, 63 and red Powerball 23, with a Power Play multiplier of 3X. Despite the lack of a jackpot winner, more than a million nationwide tickets won smaller prizes. A ticket from Georgia matched all five white balls, bagging a $1 million prize. Additionally, two tickets, one from Georgia and Texas, matched all five white balls and included the Power Play option, winning $2 million each. Other significant prizes from Wednesday’s drawing included 25 tickets that won $50,000 and 11 tickets that won $150,000.
Powerball tickets cost $2 per play and are sold in 45 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. Drawings are held at 10:59 p.m. EST every Monday, Wednesday, and Saturday at the Florida Lottery draw studio in Tallahassee. The drawings are also live-streamed on Powerball.com. Over half of the proceeds from ticket sales remain in the jurisdiction where the ticket was sold.
For those contemplating a shot at the enormous jackpot, the overall odds of winning any Powerball prize are 1 in 24.9. However, the odds of capturing the jackpot are considerably slimmer at 1 in 292.2 million.
The top 10 Powerball jackpots list now includes the current estimated prize, ranked 7th. The largest jackpot ever won was $2.04 billion on Nov. 7, 2022, followed by a $1.586 billion jackpot on Jan. 13, 2016. The $1.08 billion won on July 19, 2023, ranks third on the list. With Saturday’s drawing approaching, anticipation continues to build for what could be another record-setting win.