Who wants to be a billionaire? Powerball jackpot soars to a historic US$1 billion
After no one won big in Monday’s Powerball draw, the jackpot amount has swelled to a jaw-dropping US$1 billion.
This is the third-largest Powerball jackpot, just behind the world-record-making US$2.04 billion won last year, and the US$1.586 billion won in 2016. In addition, it has also become the seventh-largest US lottery jackpot.
The major prize stood at US$900 million until the July 17 draw, and no one could match the winning numbers: 5, 8, 9, 17, 41, and red Powerball 21.
The prize now has a cash value of US$516.8 million, which may be just over half of the estimated jackpot but is still life-changing.
“The Powerball jackpot was last hit in the April 19, 2023 drawing, when a ticket in Ohio matched all five white balls and the red Powerball to win a grand prize worth $252.6 million,” reads a release. “Since then, there have been 38 consecutive drawings without a jackpot winner.”
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The odds of winning the grand prize may be one in 292.2 million, but that has never stopped lottery players from trying out their luck.
The next draw will take place on Wednesday, July 19.
“If a player wins the jackpot on Wednesday night, they will have the choice between an annuitized prize worth an estimated US$1 billion or a lump sum payment estimated at US$516.8 million,” Powerball said, adding that both prize options are before taxes.
“If the winner selects the annuity option, they will receive one immediate payment followed by 29 annual payments that increase by 5% each year.”
These are the 10 biggest Powerball jackpots in history:
- US$2.04 billion – November 7, 2022 – California
- US$1.586 billion – January 13, 2016 – California, Florida, Tennessee
- US$900 million (est.) – July 17, 2023
- US$768.4 million – March 27, 2019 – Wisconsin
- US$758.7 million – August 23, 2017 – Massachusetts
- US$754.6 million – February 6, 2023 — Washington
- US$731.1 million – January 20, 2021 – Maryland
- US$699.8 million – October 4, 2021 – California
- US$687.8 million – October 27, 2018 – Iowa, New York
- US$632.6 million – January 5, 2022 – California, Wisconsin
Unlike in Canada, there is no limit to how much the jackpot can grow in the US, a communications representative for the Multi-State Lottery Commission told The Hill.
With files from Irish Mae Silvestre
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