Billion-Dollar Powerball Jackpot Approaches World Record Amount

The Powerball jackpot, which is currently estimated at $1.5 billion, is rapidly approaching a record-high sum after 39 consecutive drawings without a grand prize winner.

It will be the 40th Powerball drawing since the jackpot was last won in Pennsylvania on August 3 when the following drawing takes place on Saturday night. According to a Powerball press release, the jackpot’s cash value on Saturday was $745.9 million.

It will be the second-largest jackpot won in Powerball’s 30-year history and the third-largest jackpot in American lottery history if a player’s ticket matches all six numbers drawn on Saturday night, trailing only the world record $1.586 billion Powerball jackpot in 2016 and the $1.537 billion Mega Millions jackpot in 2018. If no one scoops up the jackpot on Saturday, it will tie the previous high for the number of consecutive drawings with no jackpot winner, according to Powerball.

More than 7.2 million tickets won cash prizes worth a combined $74.9 million in the most recent drawing, which took place on Wednesday night despite there being no jackpot winner. According to Powerball, there is a 1 in 24.9 chance of winning a prize overall.

According to game sales and interest, the jackpot increases. However, according to Powerball, the chances of winning the top prize remain the same at 1 in 292.2 million.

Winners of the jackpot have two options for receiving their winnings: they can either take a lump sum of cash right away or 30 annual payments spread over 29 years. Prior to state and local taxes, Powerball stated that both advertised prize options.

In 45 states, Washington, D.C., Puerto Rico, and the U.S. Virgin Islands, tickets are available for $2 each. Powerball claims that more than half of all winnings stay in the country where the ticket was bought.

Every Monday, Wednesday, and Saturday at 10:59 p.m. ET, Powerball drawings are streamed live from the Florida Lottery draw studio in Tallahassee. also broadcasts the drawings live online.

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