The Powerball jackpot is making headlines as it climbs to an estimated $1.8 billion, marking it as the second-largest lottery prize in U.S. history. This figure comes just ahead of the upcoming drawing scheduled for 11 p.m. EDT on Saturday. The current jackpot has seen a boost from late ticket sales, surpassing the previous high of $1.765 billion set on October 11, 2023.
As excitement builds, this drawing will be the 42nd since the last jackpot winner was recorded on May 31. Powerball, which first launched on April 22, 1992, was a rebranding of an earlier game called Lotto America, which began in 1988.
The winning ticket will offer players two payout options: a lump sum payment estimated at $826.4 million or a series of 29 payments that increase by 5% each year. However, winners should be aware that both federal taxes and any applicable state taxes will be deducted from the total payouts. Interestingly, residents in 18 states have the option to remain anonymous should they win.
Recent winning numbers from the last drawing included the white balls 3, 16, 29, 61, 69, and the red Powerball 22, which had a Power Play multiplier of 2. Players should note that the odds of winning the jackpot are a daunting 1 in 292.2 million.
Tickets for Powerball are priced at $2 and are sold across 45 states, along with the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. However, lottery enthusiasts in Alabama, Alaska, Hawaii, Nevada, and Utah will find themselves unable to participate in the game. Powerball drawings take place three times a week on Mondays, Wednesdays, and Saturdays, with the live event broadcast from a studio in Tallahassee, Florida. Viewers can catch the drawing on the official Powerball website, its YouTube channel, or local TV stations.
In the realm of lotteries, Mega Millions is notable for having awarded its largest jackpot of $1.60 billion in August 2023. This year also saw an increase in the price of Mega Millions tickets from $2 to $5, with drawing nights set for Tuesdays and Fridays. The roots of Mega Millions trace back to August 31, 1993, and the game officially debuted in 2002, with New York and Ohio being among the first states to join.
