Powerball Jackpot Reaches $1.6B, Breaking Lottery Document

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Posted on: November 4, 2022, 02:10h. 

Final up to date on: November 4, 2022, 02:22h.

The Powerball jackpot that began rolling three months in the past will turn into the biggest lottery prize ever received– if somebody wins the grand prize on Saturday, November 5. Recreation officers elevated the Powerball jackpot estimate Friday morning to a document $1.6 billion.

Powerball jackpot lottery odds
A Powerball participant in Florida reveals off their ticket slips. The Powerball jackpot for the November 5 draw is a record-shattering $1.6 billion. (Picture: Getty)

The prospect of a single ticket hitting this jackpot is barely about 1 in 292 million, recreation officers report. And odds like which can be the primary purpose Saturday’s drawing will probably be the fortieth with no jackpot winner since August 3, when a ticket in Pennsylvania matched all six numbers drawn for $206.9 million.

If nobody wins Saturday’s jackpot, it’ll tie the sport document for the variety of consecutive drawings with no grand prize winner. The longest jackpot run in Powerball historical past ended on Oct. 4, 2021, when a ticket in California received a $699.8 million jackpot on the forty first drawing.

That $1.6B Wouldn’t ALL be Yours

After all, that $1.6 billion is pretax cash, as any accountant will level out. (It’s additionally pre-accountant, for that matter.) Moreover, you’ll get that pretax quantity as an annuity unfold over three many years. The upfront money choice — which most jackpot winners select — for this drawing is $782.4 million. And that’s nonetheless pretax and pre-accountant.

Today, the annuity choice is greater than it beforehand was, relative to the money choice, on account of larger rates of interest that facilitate bigger annuitized prizes, based on the Multi-State Lottery Affiliation, which runs Powerball.

Saturday’s estimated jackpot has surpassed the world-record quantity beforehand set by Powerball in 2016, when tickets in California, Florida, and Tennessee received a $1.586 billion jackpot.

The subsequent Powerball drawing will happen on the Florida Lottery draw studio in Tallahassee at 10:59 p.m. ET on Saturday, November 5. Ticket sale cut-off occasions range by jurisdiction, however usually happen 1-2 hours earlier than the scheduled drawing.

Powerball tickets are $2 per play. Tickets are bought in 45 states, the District of Columbia, Puerto Rico, and the US Virgin Islands.

Prime 10 Powerball Jackpots

  1. $1.6B (est.) – Nov. 5, 2022
  2. $1.586B – Jan. 13, 2016 – CA, FL, TN
  3. $768.4M – March 27, 2019 – WI
  4. $758.7M – Aug. 23, 2017 – MA
  5. $731.1M – Jan. 20, 2021 – MD
  6. $699.8M – Oct. 4, 2021 – CA
  7. $687.8M – Oct. 27, 2018 – IA, NY
  8. $632.6M – Jan. 5, 2022 – CA, WI
  9. $590.5M – Might 18, 2013 – FL
  10. $587.5M– Nov. 28, 2012 – AZ, MO

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