The world’s largest-ever lottery amount has gotten even bigger.
Saturday’s drawing of the record-setting $1.6billion Powerball jackpot produced no winning ticket, bumping up the grand prize to an estimated $1.9billion ahead of Monday night’s draw.
The Powerball amount on Saturday broke ‘the world record for the largest national lottery jackpot in the Guinness World Records’, according to the California Lottery.
More than 10million players won payouts from Saturday’s drawing, including one who matched five numbers and added the Power Play option to score $2million. But no one matched all five digits as well as the Powerball, boosting the jackpot to a new high.
Top 10 Powerball jackpots of all time:
1. $1.9 billion (estimated) – drawing Nov 7, 2022
2. $1.586 billion – Jan 13, 2016 – California, Florida, Tennessee
3. $768.4 million – March 27, 2019 – Wisconsin
4. $758.7 million – Aug 23, 2017 – Massachusetts
5. $731.1 million – Jan 20, 2021 – Maryland
6. $699.8 million – Oct 4, 2021 – California
7. $687.8 million – Oct 27, 2018 – Iowa, New York
8. $632.6 million – Jan 5, 2022 – California, Wisconsin
9. $590.5 million – May 18, 2013 – Florida
10. $587.5 million – Nov 28, 2012 – Arizona, Missouri
Odds of winning are one in 292.2million, and the next drawing takes place on Monday at 10.59pm ET.
The cash value for the current jackpot is $929.1million if the winner chooses to take the lump sum instead of annuity payments over 29 years. The take home amount is significantly reduced after taxes. Federal tax on the $1.9billion annuity amounts to more than $700million over about three decades. For the lump sum, taxes would be close to $345million.
Powerball ticket sales usually end one to two hours before the drawing, but vary by jurisdiction.
Drawings on Mondays were added in August 2021, upping the number of possible days to win per week to three. It is also drawn on Wednesdays and Saturdays.
The Powerball jackpot was last hit on August 3 in Pennsylvania.
‘This Powerball game is delivering exactly what our players want,’ stated Powerball Product Group Chairperson Drew Svitko before Saturday’s drawing.
‘We are witnessing history in the making with this $1.6billion jackpot! What’s also exciting is that this run has already created millions of winners, including nearly 100 players who have won prizes worth $1million or more.’
The biggest Powerball jackpot ever won was in January 2016, when three players split the $1.586billion prize. All three winners picked the cash value, which was $983.5million total.
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