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Powerball jackpot climbs to $1.2B ahead of Wednesday night drawing

The Powerball jackpot is now the third-largest in the history of the game, and the seventh-largest of all U.S. lottery jackpots.
Powerball jackpot climbs to $1.2B ahead of Wednesday night drawing
Posted at 7:21 AM, Oct 04, 2023

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Powerball’s jackpot climbed to a whopping $1.2 billion ahead of Wednesday night’s drawing. 

The jackpot is now the third-largest in the history of the game, and the seventh-largest of all U.S. lottery jackpots. 

No one matched all six numbers on Monday, when the Powerball jackpot had just passed the billion-dollar mark. A few lucky winners matched five of six numbers, scoring them $1 million — which doubled to $2 million for those who used the Power Play feature. 

Should a player win the top prize Wednesday, they will have the choice between an annuitized prize of about $1.2 billion or a lump sum payment around $551.7 million — which are both before taxes, Powerball said. If the annuity option is chosen, a player gets an immediate payment followed by 29 annual payments that grow by 5% each year. 

This is the first time in Powerball history that jackpot cycles have produced billion-dollar grand prizes back-to-back, the company said. In July, a lucky winner in California matched all six numbers to win $1.08 billion. There hasn’t been a jackpot winner in the 32 drawings since.

Powerball tickets cost $2 per play.

Drawings happen every Monday, Wednesday and Saturday at 10:59 p.m. ET. The odds of hitting the jackpot are 1 in 292.2 million. 

SEE MORE: Can I stay anonymous if I win a lottery jackpot?


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